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SimpliVity, a  hyperconverged infrastructure startup, has raised $175 million in venture capital funding, giving the firm a valuation of more than $1 billion.

The company’s OmniCube combines network, storage and servers in one box. The funding is led by  Waypoint Capital, which is a (very enthusiastic) user of the OmniCube system to provide IT at five sites.

“As a customer, we experienced first-hand the transformational impact of SimpliVity’s hyperconverged infrastructure. After a thorough analysis of alternatives, we were convinced SimpliVity is technologically superior, and that its unique data architecture is years ahead of the market,” said Frederic Wohlwend, chief technology officer at Waypoint Capital. 

The money will fund expansion of the company  -  Gartner predicts total integrated system spending will grow by 24 percent per year from 2013 through 2018, reaching a total of $19 billion.  

SimpliVity launched Omnicube in April 2013. It now has 400 staff and resell in 50 countries. It has  partnership deal with Cisco.