Venture Capital News: Nasuni Announces $17.5M Series E Round
NATICK, MA, Nasuni, the leading cloud-native provider of Enterprise File Services to distributed organizations, today announced that the company has closed on $25 million in new financing.
Most of the funding comes from a new $17.5 million Series E equity round, led by new investor, Sigma Prime Ventures. The company also closed on $7.5 million in venture debt financing from Eastward Capital.
All previous investors - Flybridge Capital Partners, North Bridge Venture Partners, Sigma Partners, and a large strategic investor - participated in this new round. To date, Nasuni has raised $80.5 million in venture capital financing.
'All aspects of managing files are causing enormous headaches for enterprise IT,' said Paul Flanagan, managing director at Sigma Prime. 'Exponential file growth is creating a constant capacity crunch for most companies, employees face slow and unreliable access to the corporate file share, and protecting files using traditional systems is cumbersome and extremely expensive. Nasuni's cloud-based file system addresses all of these issues, and we've been extremely impressed with the market response. In the last year, for instance, the company has doubled the amount of customer data under management to 12 PB. And just as compelling to us is the fact that our investment will directly support further expansion with the Fortune 500 and the Global 2000.'
A provider of Enterprise File Services to distributed organizations, Nasuni has created the world's first cloud-native file filesystem, UniFS, and uses the public, private or hybrid cloud in much the same way that traditional storage vendors use commodity disk drives in their boxes. With Nasuni, enterprises benefit from the almost limitless capacity and inherent resiliency of the cloud, and all file-related operations occur on a system that features military-grade encryption and centralizes control - including provisioning, permissions and encryption keys - solely under corporate IT.
Nasuni continues to win large, well-known companies from a wide variety of sectors, including Ecolab (a water, hygiene and energy technologies and services company), one of the world's largest video game developers and publishers, and one of the world's largest advertising agencies. The company also continues to forge new alliances with market-leading IT vendors, such as IBM Cloud Object Storage and Microsoft Azure.
'Nasuni was in the enviable position of raising money from a position of strength,' said Scott Dussault, Chief Operating Officer and Chief Financial Officer at Nasuni. 'The problems IT faces in managing file growth, access and data protection are only getting more painful, and traditional storage systems are not up to the task. We could, if we wanted, achieve cash flow break-even next year, but given the intense demand for our solution, we've chosen to pursue growth and invest in all aspects of our business, including further international expansion in 2017.'
Nasuni provides an integrated solution to store, protect, share and access all enterprise files. Powered by UniFS, the first cloud-native file system, Nasuni transforms enterprise file infrastructure. With unlimited scale, continuous versioning and high-performance distributed file access, Nasuni delivers the complete suite of Enterprise File Services - all at a significantly reduced cost.
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