Bangalore: Nimble storage provides its customers an efficient, high performing and scalable storage platform on the market. This company is on an active spree as it procured another round of funding from Sequoia Capital and Accel Partners which makes it $98 million till date with three rounds of fund raising with an aggregate valuation of $500 million. It poses a threat to Dell, NetApp and EMC as it saves tons of money over traditional systems offered by them, reports Business Insider.

Nimble was founded by Umesh Maheshwari and Varun Mehta and the company gained quick recognition for its product and performance. Suresh Vasudevan, CEO of Nimble Storage says “EMC, NetApp, Dell—those are three we see all the time where our win rates are really high,” by which he meant that Nimble is winning lots of deals against them.

Though the company was founded 5 years ago, it started to ship its products only in 2010. The company involves itself in the production of flash storage systems foe enterprises. Flash storage is generally the kind of memory used in thumb drives and cell phones. The company’s mission is to pack a lot more of data for enterprises in tinier spaces without losing any performance. The company gained its popularity as it saves tons of money over traditional systems offered by Dell, NetApp and EMC.

Nimble storage is all set to make another huge hit, it has over 600 enterprise customers and 175 new clients were added to the list in the last quarter. Vasudevan also says that he expects Nimble to touch the $50 million to $60 million mark in revenue by the end of this year.

When Vasudevan was asked about Nimble’s plan on going IPO he said “If things are still going this well "by the second half of next [year], we'll start thinking about it."