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Bill Roth, Ulitzer Editor-at-Large

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Nexenta Raises $21 Million in Series C Funding

Today, we announced funding led by Menlo Ventures.  Razor’s Edge and Sierra Ventures both participated, as did our existing investors.

A few quick points:

1.  A hearty welcome to Pravin from Menlo and Tim from Sierra Ventures.  I couldn’t be more proud that Menlo Ventures decided to lead our investment round.  To be blunt - they had significantly better references than some of the other lead investors that we were considering.  That sealed the deal for me.

2.  The old cliché that the best time to raise money is when you do not need the money is simply true.  Nexenta grew by 400% last year, largely funded by our own sales.  We could have decided to not raise money, which made raising money easier.

3. So why did we raise a growth round?  You don’t get to choose when these markets transition.  And storage appears to be transitioning now.  We named a few of our customers in the funding release.  There are others with bigger names and tighter PR policies :)   We are going to be using the funding to improve NexentaStor, scale our support, and further accelerate our innovation.

4.  Thank you.  If you are reading this, then you have something to do with Nexenta’s success.  It is due to the strong pull from partners, customers, end users, and technical partners like Dell, Intel, LSI, and others. And that the lock-in-based business models of legacy storage are giving way to OpenStorage and our mission of “enterprise class storage for everyone”.

Evan

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Bill Roth is a Silicon Valley veteran with over 20 years in the industry. He has played numerous product marketing, product management and engineering roles at companies like BEA, Sun, Morgan Stanley, and EBay Enterprise. He was recently named one of the World's 30 Most Influential Cloud Bloggers.