SANTA CLARA -– Cohesity, a developer of hyperconverged secondary storage, has raised over $90 million in a Series C round co-led by investors GV (formerly Google Ventures) and Sequoia Capital. Technology giants Cisco Investments and Hewlett Packard Enterprise (HPE) also participated in this round as strategic investors, joining Accel, ARTIS Ventures, Battery Ventures, DHVC (formerly Danhua Capital), Foundation Capital, Qualcomm Ventures (the investment arm of Qualcomm Incorporated), Trinity Ventures and Wing Venture Capital.
The decision to seek additional funding was driven by a rapid uptick in customer demand for Cohesity’s hyperconverged secondary storage platform, which debuted over one year ago.
Companies are grappling with a vast amount of data that is flooding their organizations. Cohesity delivers a radically efficient way to manage this surge in data volume and complexity. By consolidating a wide range of secondary storage workloads – from backups to analytics – into a software-defined platform that spans both on-premises and public cloud environments, customers can dramatically reduce storage capacity requirements, simplify complicated data management processes and extract more value from their data. Cohesity differentiates itself from other vendors in the space by providing a web-scale platform that consolidates all secondary data use cases, not just backups.
“Given the tsunami of data flowing through businesses, hyperconverged secondary storage is now a must-have for enterprise companies. Customers are recognizing the tremendous value that Cohesity provides for managing all of their data in a single platform,” said Bill Coughran, partner at Sequoia Capital and Cohesity board member. “Market interest is driving this round of funding, which will be used to help us meet the accelerating demand.”
Cohesity will use the new funding to expand its worldwide sales and marketing footprint to meet the surge in customer demand. The investment will also accelerate Cohesity’s research and development of additional secondary storage use cases beyond data protection, with a special focus on analytics, test/dev, file services and object services.
“Cohesity’s ability to consolidate diverse secondary storage workloads is an impressive technical feat: it represents a fundamental shift in the way that companies manage and store data,” said GV General Partner Karim Faris. “Customers are demanding that their data protection systems do more than simple backup in a world with an increasing volume of data use cases.”