Investors are clearly seeing promise in cloud leader StorSimple, as the company announced today a Series C round of funding of $10.5 million, a round that was led by Ignition Partners and included participation by all of StorSimple’s previous investors, including Index Ventures, Mayfield Fund and Redpoint Ventures.
This latest round brings the company’s total funding to $31.5 million and will finance accelerating the growth of the company due to significantly increased demand both in the U.S. and internationally, according to company officials.
“We appreciate this proactive support from our investors,” said Ursheet Parikh, StorSimple co-founder and CEO, in a statement. “We are now funded to hit escape velocity. This round reflects the fact that StorSimple has become the clear leader in this space and is the safe bet for any company looking for enterprise cloud storage where high-availability, security and performance are a given.”
StorSimple, a leader in Enterprise Cloud Storage for Windows and VMware infrastructures, works to bring the benefits of the cloud to on-premises applications without forcing the migration of applications into the cloud. This week the company celebrated some other big news as well when it was honored with the title of Microsoft (News - Alert) BixSpark Partner of the Year.
For leading investor Ignition, the decision to back StorSimple was a no brainer.
“History has shown first movers with great breakthrough products capture disproportionate value for their customers and investors – we believe StorSimple to be just such a company,” said Richard Fade, partner at Ignition, in a statement. “StorSimple is a company we wanted to become a bigger a part of. It has an awesome team, a proven product, early market leadership and deep partner relationships with companies such as Microsoft, who recently selected StorSimple as a Partner of the Year.”
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Carrie Schmelkin is a Web Editor for TMCnet. Previously, she worked as Assistant Editor at the New Canaan Advertiser, a 102-year-old weekly newspaper, covering news and enhancing the publication's social media initiatives. Carrie holds a bachelor's degree in journalism and a bachelor's degree in English from the S.I. Newhouse School of Public Communications at Syracuse University. To read more of her articles, please visit her columnist page.
Edited by Jennifer Russell