Nimble Storage raises $25 Million in Series D Funding
Date: Monday , August 01, 2011
California based Nimble Storage, a provider of data storage, backup and disaster recovery device, has raised $25 million in series D funding. Artis Capital Management led the round with participation from the existing investors Accel Partners, Lightspeed Venture Partners and Sequoia Capital. The fund raised will be used to help build its sales force and make a customer base for the coming years.
Umesh Maheshwari and Varun Mehta founded nimble Storage in 2008. The company targets data storage managers or IT generalists at companies with 200 to 500 employees who wants to combine multiple storage devices into one. They emphasize their ability to reduce data backup windows from hours or even days to seconds. The product of the company is a single appliance on which customers can do both primary storage and backup. Due to the relative low cost and high capacity of the Nimble product, the users do not have to go through the traditional backup model of moving data from disk to tape, then archiving that tape somewhere.
In November last year, they have raised their series C funding of $16 million and the total amount raised by the company so far is $58 million.