Today Tegile Systems announced that it has raised an additional $70 million in series D funding. This brings their total funding to $117.5 million. Tegile came out of stealth and shipped its first array in 2012. Tegile has shipped over 1,500 units since launching and has seen year-over-year revenue growth of 350%.
Today Tegile Systems announced that it has raised an additional $70 million in series D funding. This brings their total funding to $117.5 million. Tegile came out of stealth and shipped its first array in 2012. Tegile has shipped over 1,500 units since launching and has seen year-over-year revenue growth of 350%.
This round of funding has seen three new investors including Capricorn Investment Group, Cross Creek Advisors and Pine River Capital Management, who join the previous group of investors that include August Capital, Meritech Capital Partners, Western Digital, and SanDisk. Tegile plans on using the newly acquired finances to continue to expand globally and take advantage of the growing opportunity of enterprise flash storage.
Since its launch, Tegile has focused on flash storage offering hybrid and all-flash arrays as well as IntelliFlash Software to intelligently manage different storage media. Tegile states that its foundation of performance and value is enabling broader adoption of flash storage in business IT.
Tegile further states that in the next year and a half it plans will double its employees, scale up its operations, and further expand its reseller channel. In North America, Tegile plans on ramping up its sales team to meet the growing needs of enterprise and federal government customers.
