PernixData develops FVP, a flash virtualization platform that speeds computing performance by using server-side flash and decoupling performance from capacity. The company currently supports VMware vSphere and recently added support for server RAM and file-based storage in addition to block. PernixData reported revenues growing 42% quarter-over-quarter in its most recent full fiscal year and estimates its FVP software is accelerating roughly 120,000 virtual workloads worldwide. The company has sold FVP to about 200 companies across more than 20 countries, including customers such as Tata Steel, Bank of the West, Sega and Toyota. Management says it will use the new funding to build out the platform, add support for more hypervisors, grow existing markets, penetrate new ones, and expand reseller recruitment, training, and partner incentive programs. PernixData has developed a scale-out software-defined storage system that manages flash to separate performance from capacity and avoid over-provisioning. Its approach lets organizations scale performance independently of capacity without changing applications or storage infrastructure. The company initially focused on the VMware market at launch and plans to extend support to other hypervisors such as Xen and KVM. PernixData launched in February under CEO and co-founder Poojan Kumar and has acquired customers and grown quickly since that launch. The company is positioned as a software play in a market where competition is expected to intensify as systems vendors shift toward software. Financially, PernixData raised $7 million last year and has continued fundraising activity into the current round.

Total raised

$55M

Funding rounds

2

Latest round

Series C

Latest activity

Aug 2014