Application-aware cloud-based storage provider Tintri has closed an “oversubscribed” $75-million Series E funding round which it will use to accelerate its global expansion, technology development, scale operations and support its rapidly growing customer base, as well as prepare for a future initial public offering.
Tintri’s solutions help more efficiently store and manage flash drive data for virtualization and cloud environments, resulting in smaller data footprints, among other benefits.
According to Tintri’s Thursday announcement, the new funding brings the company’s funding to $135 million in total, and puts the company on track to launch an IPO in 2015. Tintri’s global growth has been particularly aggressive recently, evidenced by the opening of the company’s new Australian headquarters in Melbourne as of Thursday.
Tintri is not alone in this niche to seeking capital through issuing stocks. Nimble Storage, which offers a similar flash storage service, launched its IPO in December, and Violin Memory filed for an IPO in 2013.
Flash memory will be very significant for data centers as they make the switch from mechanical disks to flash memory which are much faster, but smart storage capabilities also promise to boost performance to a new level.
David Cheriton, a Tintri investor and an early investor in Google and VMware, said Tintri’s able to make applications run better by fusing flash storage and intelligent management. “This is where the Tintri application-aware storage is in a league of its own,” he said in a statement. “As the only application-aware storage platform, Tintri storage is intelligent, self-learning and adaptive to the needs of the virtualized applications it supports.”