January 22nd, 2012 by Lyle Smith
Nexenta Secures $21 Million in Series C Funding
Nexenta Systems, supplier of OpenStorage solutions, has announced that it has secured over $21 million in Series C financing, with Menlo Ventures-- experienced investor in the storage space industry--as its new lead investor. Sierra Ventures and Razor’s Edge Ventures were also chosen for partnership in this round, joining current investors Javelin Venture Partners and TransLink Capital.
This announcement follows its three year growth of over 400% year-over-year making it one of the fastest growing enterprise storage companies. Throughout 2011, Nexenta achieved additional corporate milestones, including $300 million in hardware sales, serving over 4,000 customers, and tripling its workforce. They were also able to be ‘capital efficient’ while funding most of their operations from sales revenue. Nexenta Systems has stated that they will use this growth in funding to sustain the company’s growth, pace of innovation, and global expansion to meet the rapid of their customers.