SolidFire Lands $82 Million to Expand Flash Memory in Data Centers
It’s not everyday a four-year-old startup in Colorado—or anywhere, really—raises an $82 million funding round, but Boulder-based data storage startup SolidFire has done just that.
SolidFire develops all-flash storage systems for enterprise customers and cloud-services providers. Clients include eBay, PayPal, and CenturyLink.
The round, which is a Series D, brings the total raised by SolidFire to $150 million. Greenspring Associates, a new investor, led the round along with Silicon Valley Bank and an unnamed “major” sovereign wealth fund. Prior investors New Enterprise Associates, Novak Biddle, Samsung Ventures, and Valhalla Partners also participated
SolidFire has seen business boom lately, as flash-based solid-state drives continue to replace traditional spinning disks in data centers around the world. SolidFire started selling its drives in 2012, and while the company did not give exact numbers, it said revenue increased 700 percent in 2013 and 50 percent on a quarter-over-quarter basis this year.