This time, the focus is on Europe and Asia
American enterprise storage specialist Tegile Systems has received $70 million in venture capital, in its largest financing round to date.
The money will help the company double the number of employees and fund the expansion of global operations.
“The opportunity to partner with Tegile and help scale the company as it continues its rapid ascent in the flash storage industry is one that we simply could not afford to pass up,” said Dipender Saluja, managing director at Capricorn Investment Group.
Hybrid and all-flash storage arrays made by Tegile rely on high endurance enterprise-grade NAND memory from SanDisk, made more affordable by proprietary data management and compression algorithms, which allow cramming more data into SSDs.
The company shipped its first storage array in 2012. Since then, Tegile has deployed more than 1,500 systems within mid-sized and large enterprise environments, and attracted $117.5 million in venture capital.
Investors participating in the latest Series D round include Western Digital and SanDisk – who also supply the drives for Tegile’s storage arrays.
The company will use the money to increase the number of employees from 300 to 600 and ramp up its sales and channel operations, especially in Europe and Asia. The previous funding round - worth $35 million - was intended to focus on North American and European channels.
“With this infusion of venture and debt capital, we will be able to satisfy the rising demand for our Tegile Intelligent Flash Arrays and methodically build Tegile into a sustainable multi-billion-dollar business that will deliver maximum value to our investors,” said Rohit Kshetrapal, CEO of Tegile.