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Nirvanix Raises Over $25M Series C Funding


SAN DIEGO, May 3 – Nirvanix, Inc. today announced it has raised over $25M in a Series C funding round led by Khosla Ventures. Current Nirvanix investors Valhalla Partners, Intel Capital, Mission Ventures and Windward Ventures also participated in the round. The company plans to utilize the capital infusion to significantly expand its engineering organization and accelerate the delivery of innovative new cloud storage services while increasing its global footprint across sales and marketing. The new investment brings Nirvanix's total capital raised to $70M.

Nirvanix is the leading cloud storage services provider for enterprises with massive amounts of large unstructured content files, and the only company offering fully managed services with usage-based pricing across public, hybrid and private cloud storage deployments. Specifically designed for millions of users, billions of files and exabytes of data, Nirvanix cloud storage is architected from the ground up for business-critical enterprise data. Customers such as Cerner Corporation, IBM, USC Digital Repository, National Geographic and Relativity Media, among thousands of others are using Nirvanix to archive, backup and collaborate on large content files across multiple diverse locations.

"We look to bet on fundamental technology shifts that create big markets, and with Nirvanix we see two of these fundamental shifts occurring together: cloud and data," said David Weiden, general partner, Khosla Ventures. "The advantages of cloud computing are becoming more clear all the time, and it is inevitable that storage will also move to this architecture. Data, particularly unstructured data, is exploding in volume and ways to leverage it. Nirvanix's momentum with top tier enterprise customers speaks for itself, and we look forward to helping them accelerate their lead."

"Nirvanix is changing the game when it comes to enterprise storage deployments," said Charles Curran, general partner, Valhalla Partners. "Companies are deploying multi-petabyte Nirvanix clouds and bypassing the never-ending cycle of migrating data from one overly expensive hardware platform to the next. Aging storage hardware vendors are like online dial-up providers – a few people will still use their boxes in five years, but they represent a dying model."

"Our enterprise cloud storage focus has clearly resonated with customers, as demonstrated by the fact that we booked more revenue in Q1 of 2012 than nearly all of 2011," said Scott Genereux, president and CEO of Nirvanix. "Additionally, over the past year Nirvanix has secured more petabytes under management than the prior three years combined; deployed the largest private clouds in the world; and made significant market advances in the financial services, healthcare and media and entertainment sectors. Going forward we expect our growth trajectory to increase as we deliver new functionality for our battle-hardened enterprise services and expand our reach to customers across the globe – further demonstrating the broad applicability of our cloud technology."

Nirvanix Competitive Advantages

The Only Consistent Data Storage on the Internet
Nirvanix has the only cloud storage technology that knows where every single object in the cloud is located at any point in time by virtue of its innovations in data consistency software. This software ensures that there are no data consistency windows for companies to deal with as changes to a file are immediately reflected across the whole cloud and not at some future point in time.

A Geo-Diverse Namespace
Nirvanix has the only cloud storage service with a truly geo-diverse namespace that spans countries, regions, data centers and pools all data into a single globally accessible repository – enabling companies to upload data once and access it anywhere. Others either offer "cloud-in-a-box," are limited by regional namespaces or confined to a single physical data center. The Nirvanix geo-diverse namespace creates a logical pool across all deployed nodes in a public, hybrid or private cloud implementation.

Autonomous Self-Healing Clouds
Nirvanix cloud storage services provide for continuous data accessibility across the globe as live replicas of customer data are maintained in multiple geo-diverse locations – not DR copies that need to be restored. Nirvanix provides customers with rapid time-to-recovery – not just the ability to recover. If data stored in a primary location is unavailable for any reason, advanced self-healing cloud software autonomously serves up data to customers from a secondary or tertiary location while the software continuously checks the integrity of files and automatically repairs any potentially corrupted files in the background.

The Nirvanix Cloud File System
Specifically designed for millions of users, billions of files and exabytes of data, the Nirvanix Cloud File System is architected from the ground up for massive unstructured content files prevalent in healthcare, media and entertainment, finance, biotech and IT industries, among other verticals.

About Nirvanix

Nirvanix is the leading provider of enterprise-class cloud storage services designed specifically for customers with expectations of extreme security, reliability and redundancy. Under its CloudComplete portfolio, Nirvanix is the only company that offers fully managed public, hybrid and private cloud storage services with usage-based pricing. The company's battle-hardened, proven second generation technology is utilized by leading IT OEMs and is fully integrated with third-party backup and archiving software products and appliances, enabling One Click to the Cloud. Nirvanix has global customers accessing its Cloud Storage Network, from SMBs to Fortune 500 companies.

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Source: Nirvanix, Inc.

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