Tegile
Systems, the leading provider of flash-driven storage arrays for
databases, virtualized server and virtual desktop environments, today
announced $33 million in additional funding. With strong business growth
and increased interest in all-flash storage deployments, the funding was
led by Western Digital Corp and current investors such as Meritech
Capital, Capricorn Investment Group, and Cross Creek Capital. The
company will use the new funds to invest further in technology
development and product innovation, and to expand worldwide market reach.
According to Gartner,
the solid state array (SSA) market will reach $10.4 billion by 2020 and
account for 52 percent of the external storage market. With an all-flash
revenue growth rate of 110 percent year over year, Tegile is already
outpacing the market and is in a prime position for solid growth,
fulfilling its mission of helping companies transition to an all-flash
data center. New and expanded customers include CMG Financial, United
Center, and AT&T.
Product innovation is driving the company’s business growth. In 2016,
Tegile launched IntelliFlash HD, the industry’s first multi-tier flash
platform, and introduced IntelliFlash Cloud Platform, which harnesses
the performance of NVMe SSDs and the economics of high density flash to
cost-effectively build a private cloud. At the core of every Tegile
solution is the company’s patented IntelliFlash™ software architecture
and multi-tier flash technology, where data is organized and placed on
the most appropriate media to deliver memory class performance and
balanced economics to enable enterprises to migrate to an all-flash data
center.
“The storage market is rapidly being reshaped as the battle continues
between incumbents that struggle to innovate and startups that have
brought tremendous innovation to data centers. In this
highly-competitive and turbulent market, Tegile has always been focused
on two main goals: disruptive all-flash technology and sustainable
growth,” said Rohit Kshetrapal, CEO of Tegile. “This new investment in
Tegile will allow us to continue on this path, all while helping
enterprises and businesses of all sizes around the world transition to
an all-flash data center.”
With this financing, Tegile has raised a total of $178 million to date.