Tuesday, October 17, 2017

Goldman Sachs targets $40bn storage world with multi-million Dollar investment into Infinidat

For Infinidat, total raised funds amount now to $325m as business continues to expand worldwide.

Data storage company Infinidat has closed a Series C funding round which has seen the company raise $95m led by Goldman Sachs Private Capital Investing (PCI).

The round also saw the participation from some of the company’s previous backers in Series B including TPG Growth.

With the latest round, Infinidat has raised a total amount of $325m which the company has and is using to target the overall $40bn data storage industry.

Moshe Yanai, Infinidat Chairman and CEO, said: “We have broken every record for growth of a data storage company in a few short years by focusing on fundamentals: Anticipating customers’ needs, ignoring hype cycles and fostering an inclusive culture of innovation and engineering excellence.

“We are delighted that Goldman Sachs is joining us for the next chapter of this journey.”

Infinidat was founded in 2011 and started selling its flagship InfiniBox product in 2014. Its early customers include large telcos, banks and cloud service providers.

InfiniBox has been designed to help businesses consolidate large numbers of legacy enterprise systems onto a simpler platform. Each InfiniBox system manages over 5 petabytes (5 million gigabytes) of data.

The company has today offices in 17 countries, is dual-headquartered in Waltham, MA and Herzliya, Israel and currently employs 500 staff worldwide.

Holger Staude, VP Private Capital Investing at Goldman Sachs, said: “We are excited to partner with Infinidat.

“The company’s impressive track record of technological innovation and strong, profitable growth really stands out among its peers in the storage industry.”