BOSTON, MA, Nasuni, the leading provider of cloud-scale enterprise file services, today announced it has closed $38 million in growth equity funding.
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The round was led by Goldman Sachs Growth Equity (GS Growth), a platform within Goldman Sachs' Merchant Banking Division. The investment follows another record quarter by Nasuni for new customer acquisition, expansion bookings from existing customers, and revenue. Nasuni, which has now raised approximately $120 million, will use the new funding to expand its research and development, customer success, and go-to-market efforts.
Nasuni's growth is accelerating as enterprises look for a more scalable and cost-effective way to manage the exponential growth of unstructured data. Traditionally, IT organizations purchased network attached storage (NAS), backup, archive, replication, and disaster recovery hardware and software. File growth would quickly outpace capacity, file sharing and transfer challenges would limit multi-site collaboration, and insufficient recovery points and recovery times would threaten business continuity. Nasuni's cloud-native global file system and on-premises caching appliances, delivered as a subscription-based cloud service and integrated with cloud object storage, represent a paradigm shift in unstructured data management. This modern, cloud-native approach is why Nasuni counts the largest businesses in 6 different industry segments among its hundreds of customers.
"The cloud is replacing on-premises disk arrays as the next wave of data storage," said David Campbell, Managing Director of Goldman Sachs' Merchant Banking Division and newly appointed member of Nasuni's Board of Directors. "What has been missing is a global file system that enables enterprises to store their fastest growing type of data - unstructured file data - in cloud object storage. Nasuni, powered by its UniFS file system, is Network Attached Storage redesigned for the cloud, enabling enterprises to reduce costs and provide data access to an increasingly global workforce, while seamlessly securing and protecting data so it can be easily recovered."
The GS Growth investment follows a year in which Nasuni received numerous awards and customer validation, while positioning itself to further disrupt the NAS, backup, and disaster recovery markets that command billions of IT spend annually:
-Microsoft awarded Nasuni "Azure Global ISV of the Year" for driving more customer wins in the Azure cloud than any other vendor in Microsoft's fiscal 2017.
-CIOReview named Nasuni to its 20 Most Promising Storage Solution Providers 2017 list.
-40 new employees were added in the first half of 2017, and the Nasuni leadership team was expanded with 5 key appointments.
-Nasuni relocated its corporate headquarters to the fast-growing Seaport District in downtown Boston, doubling its office space and enabling the company to more easily tap the talented pool of engineering and technology expertise in the city.
"While unstructured file data is the lifeblood of almost any large organization, the last decade has seen only incremental innovation in file system design," said Andres Rodriguez, Nasuni Founder and CEO. "Traditional storage software and hardware vendors have viewed the cloud largely as a 'cheap and deep' target for backup and archive data, so they have perpetuated unscalable, device-centric architectures. Our disruptive approach of making the cloud the target for primary file storage as well as the hub for high-performance file distribution is now meeting the NAS scale and performance requirements of the most demanding media, manufacturing, engineering, technology, and construction companies. For any enterprise that lives and breathes files and needs to support global file workloads, Nasuni is now the clear choice."
"We have proven our technology works at scale, we are acquiring new customers at an increasing pace, and our customers renew their Nasuni subscriptions and buy more every year," said Paul Flanagan, President of Nasuni. "Now, it's about driving growth and scale in our business. We are thrilled to welcome Goldman Sachs to our investor base and delighted to be working with David Campbell, who, as a former IT executive with a computer engineering background, brings invaluable perspectives and real-world experience to our board."
Nasuni ("NAS Unified") is the leading provider of cloud-scale enterprise file services. Powered by Nasuni UniFS, the first global file system that resides in private and public cloud object storage, the Nasuni hybrid cloud platform transforms the way enterprises store, protect, share, and manage unstructured file data. By using Nasuni and their preferred cloud provider for Network Attached Storage (NAS) replacement, multi-site file collaboration, archiving, and data analytics, Nasuni customers are meeting global growth, workforce productivity, and "cloud-first" objectives, while also realizing massive IT cost savings. Nasuni is a privately held company based in Boston, Mass. For more information, visit http://www.nasuni.com.
About Goldman Sachs
Founded in 1869, The Goldman Sachs Group, Inc., is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for Goldman Sachs' long term principal investing activity. With nine offices across seven countries, MBD is one of the leading private equity investors in the world. Since 1986, the group has invested approximately $180 billion of levered capital across a number of geographies, industries and transaction types. Within MBD, Goldman Sachs Growth Equity (GS Growth) is a dedicated platform for venture capital and growth equity investments in leading companies that have built innovative technology or processes to transform their industries. Since 1994, GS Growth has partnered with more than 200 companies and invested more than $5 billion of capital across sectors including technology, software, media, healthcare IT, and business and information services. GS Growth seeks to partner with strong management teams to help companies achieve product, customer and geographic expansion. For more information about GS Growth, please visit: http://www.gs.com/gsgrowth.