Fusion-io closes $47.5 Million in series B funding
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Orlando: Fusion-io, which revolutionize the way database, application and system administrators architect their data centers, has closed $47.5 million in series B funding from a group of investors led by global venture capital firm Lightspeed Venture Partners. Series A investors, including New Enterprise Associates (NEA), Dell Ventures and Sumitomo Ventures, also have participated in the new financing. The company also announced that David Bradford, a technology industry veteran, has been named CEO of Fusion-io. Bradford will lead the company's strategic expansion, seizing the opportunity to help transform the corporate data centers of the world with Fusion-io's solid state storage solutions. Fusion-io offers the first true fusion of high-performance I/O and network storage, replacing racks of storage disks with a single card. Fusion-io is experiencing substantially increased momentum, adding hundreds of new customers with deployments across multiple industries. The company has also made a series of announcements regarding OEM and working agreements with HP, IBM and Dell. Scott Sandell, General Partner at NEA, said, "This round of funding will enable Fusion-io to build on that momentum and help the company keep pace with the growth demands of the marketplace, while permitting them to continue leading the evolution of network storage." Fusion-io will use the series B funding to significantly increase production capabilities to meet the rapidly growing demand for Fusion-io's current offerings. It will also use the investment to develop the next generation of Fusion-io technologies that will build on its industry-leading server-attached storage products to supply server-deployed, network-attached solid-state storage. The first of these products, releasing this summer, is the ioSAN, a PCI Express-based product that extends the raw power of Fusion-io's solid-state technology across the network.

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