April 23rd, 2014 by Lyle Smith
Pure Storage Raises $225M in Series F Funding
Pure Storage has announced it has closed a $225 million Series F funding round with a pre-money valuation of over $3 billion. The round comprised of contributions from previous public market investors, such as T. Rowe Price Associates, Tiger Global, and new investor, Wellington Management Company. In addition, the round also included participation from prior venture capital investors, Greylock Partners, Index Ventures, Redpoint Ventures, and Sutter Hill Ventures. This new funding puts Pure Storage’s total capital raised to $470 million, which will support the continued acceleration of its market course and international business expansion through increased investments in engineering, sales, marketing and channel partner enablement to meet the demand for their Pure Storage FlashArray.
Pure Storage has achieved over 700% YOY growth and has consistently achieved 50% sequential quarterly growth over the past year. Additionally, it has continued its fast international expansion by opening new offices across four continents. In 2013, Pure Storage grew its global customer base by 650%, shipping its 1000th FlashArray to customers worldwide since it was founded.
With Pure Storage’s focus on operating as a channel-centric organization, channel productivity has increased threefold in the last year through a multi-tiered network of more than 200 partner organizations. They have also been recruiting industry veterans across sales and operations to help improve on its global go-to-market infrastructure. This includes hiring Kevin Delane, who previously held executive leadership roles at IO and EMC, as vice president of global alliances and business development.
For more information on the Series F round, navigate to Pure Storage's blog.