NEWARK, Calif., May 27, 2015 /PRNewswire/-- Tegile
Systems, the leading provider of flash-driven storage arrays for
databases, virtualized server and virtual desktop environments,
today announced that it has closed a $70
million funding round. The new funding brings the company's
total capital raised to $117.5
million to date, and will be used to finance its rapid
global expansion and address the explosive opportunity within the
enterprise flash storage market space.
Three new investors, Capricorn Investment Group, Cross Creek
Advisors and Pine River Capital Management, join existing investors
August Capital, Meritech Capital Partners, Western Digital and
SanDisk to fund the round.
"With a best-in-class product portfolio, an award-winning
partner program, and numerous industry accolades, Tegile continues
to set the bar for up-and-coming storage vendors," said
Dipender Saluja, Managing Director,
Capricorn Investment Group. "Tegile is transforming the
storage industry by offering unique storage solutions that strike
the perfect balance between performance and economics. The
opportunity to partner with Tegile and help scale the company as it
continues its rapid ascent in the flash storage industry is one
that we simply could not afford to pass up."
Tegile provides innovative flash-optimized storage solutions
that enable businesses of all sizes to accelerate their
applications, reduce their storage footprint and cut operational
costs. Tegile shipped its first storage array in 2012. Since
then, the company has deployed more than 1,500 systems within
mid-sized and large enterprise environments and has experienced
year-over-year revenue growth of 350 percent.
"The enterprise flash storage market is rapidly evolving and
there are a number of companies vying for leadership position,"
said Rohit Kshetrapal, CEO of
Tegile. "I truly believe that we have built something unique
in the marketplace. Our flash storage solutions deliver the
performance, flexibility, and economics that companies need to
achieve new levels of business acceleration while controlling IT
costs. With this infusion of venture and debt capital, we will be
able to satisfy the rising demand for our Tegile Intelligent Flash
Arrays and methodically build Tegile into a sustainable
multi-billion-dollar business that will deliver maximum value to
our investors."
In the next 18 months, Tegile plans to double the number of
employees from its current base of 300, scale up its operations,
and further expand its reseller channel to satisfy the rising
demand in Europe and Asia. In North
America, the company will continue to ramp its sales teams
to meet the needs of enterprise and federal government
customers.
"I've seen what Tegile's team is capable of, and couldn't be
more pleased with the technical and management direction of the
company," said Vivek Mehra, general
partner at August Capital, which was Tegile's first investor.
"Tegile's foundation of performance and value is enabling broader
adoption of flash storage in business IT, and delivering benefits
for big segments of the market that have not typically been served
well by other storage vendors."
"Tegile solved a mission-critical need for a hybrid Fibre
Channel boot and virtualization storage system for our newly
deployed MLB Network post-production system. The technology
exceeded our performance needs and enabled more workflows than
originally anticipated, given the flexibility of the software and
performance of the system," said Tab Butler of MLB Network.
"Tegile's technology allows us to provide our users a low latency,
high availability OS environment while simultaneously fulfilling
our high-performance virtualization needs. It is a cost-effective
solution that allows us to improve our operations while ensuring
data integrity."
About Tegile Systems
Tegile Systems is pioneering a
new generation of intelligent flash arrays that balance
performance, capacity, features and price for virtual desktop and
database applications. With Tegile's line of all-flash and hybrid
storage arrays, the company is redefining the traditional approach
to storage by providing a family of arrays that accelerate business
critical enterprise applications and allow customers to
significantly consolidate mixed workloads in virtualized
environments.
Tegile's patented IntelliFlashâ„¢ technology accelerates
performance and enables inline deduplication and compression of
data so each array has a usable capacity far greater than its raw
capacity. Tegile's award-winning solutions enable customers to
better address the requirements of virtualization, virtual desktop
integration and database integration than any other offerings.
Featuring both NAS and SAN connectivity, Tegile arrays are
easy-to-use, fully redundant and highly scalable. They come
complete with built-in snapshot, remote-replication, near-instant
recovery, onsite or offsite failover, and VM-aware features.
Additional information is available at www.tegile.com. Follow
Tegile on Twitter @tegile.
CONTACT AGENCY:
Dan Miller, JPR Communications
818-798-1473
dan@jprcom.com
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SOURCE Tegile Systems