subject: Nimble Storage Will Get $16 Million In Series C Funding To Proceed Operations [print this page] San Jose, California-primarily based Nimble Storage, developer of your 1st converged storage and backup remedy, announced that it has acquired $16 million in its Series C round of funding from present investors Accel Companions, Lightspeed Venture Lovers, and Sequoia Capital. The expense is going to be used to assistance Nimble storages expansion by expanding product sales, marketing and engineering initiatives.
Nimble Storage has the scarce combination of a leading group coupled with disruptive technological innovation as well as a market place that may be primed for change, said Jim Goetz, a Sequoia Capital accomplice and member of the board of Nimble Storage. Board fellow member Peter Wagner of Accel Partners added, Were incredibly impressed aided by the breakthrough architecture the workforce has produced as well as the earlier sales traction theyve attained. The organizations earlier income ramp is swifter than any storage startup weve observed inside last decade.
The attention weve experienced in Nimble has been remarkable. We have been through-subscribed for this Series C round of funding and glimpse forward to rapidly scaling the corporate to take benefit of a huge current market opportunity, said Mehta. Its clear that weve hit an actual buyer pain-position, and the volume of specials weve closed presently proves theres enormous pent-up demand for any new approach to enterprise storage and backup.
Founded by former Data Area and NetApp executives Varun Mehta, CEO, and Umesh Maheshwari, CTO, Nimble Storage has produced the businesss initially converged iSCSI storage, backup, and disaster restoration remedy. Since introducing the Nimble CS Series in July of this 12 months, the corporate has become named a CRN Sizzling Rising Know-How Vendor for October. The corporate has also acquired VMware-Prepared status and develop into an Elite fellow member in the VMware Technological innovation Alliance Partner software.
