Qumulo, a stealth-mode enterprise data storage startup, announced today that it has closed a $40 million Series B funding round. The funding was led by Kleiner Perkins Caufield & Byers (KPCB) with participation from existing investors Highland Capital, Madrona Venture Group and Valhalla Partners. The company also announced that Sujal Patel, founder of Isilon, which was acquired by EMC for $2.5 billion in 2010, Wen Hsieh, partner at KPCB, and Matt McIlwain, managing director at Madrona Venture Group, have joined the company’s board. The Series B round brings Qumulo’s total funding to $67 million.
Qumulo’s offering has met with exceptionally positive early customer response. Qumulo will use this investment to expand product development and scale marketing and sales efforts to support the company’s go-to-market strategy. The company is founded and led by a proven team of scale-out Network Attached Storage (NAS) experts who are uniquely qualified to build a modern and disruptive scale-out storage solution.
“Enterprises are grappling with the challenge of how to understand, store, and cost-effectively manage an incomprehensible number of files and digital assets,” said Peter Godman, co-founder and CEO of Qumulo. “The caliber of venture capital investors and board members that have joined us underscores the huge market opportunity that exists and reflects investor confidence in the work accomplished over the last three years by our team.”
“Qumulo is poised to disrupt a huge and rapidly growing market. They have quietly assembled a world-class team including ex-Isilon technical leadership to tackle and change the way enterprises deal with the massive explosion of digital data, such as files, music, pictures and videos,” said Wen Hsieh, partner at KPCB. “We’re excited to have led the investment in Qumulo’s latest financing. When you combine this level of experience, talent and technology, you get a very disruptive outcome that will re-shape the future of enterprise data storage.”
“Qumulo presents so much potential to change the enterprise storage game,” said Sujal Patel, founder of Isilon. “The team is addressing the major problem of digital data growth and management that will only continue to compound, with the rare expertise required to build high performance, massive scale-out NAS software. By attacking the root of the problem – managing the data, rather than managing the storage—new outcomes are possible. When Qumulo enters the market, it will have a significant impact on enterprise scale-out NAS.”
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape, and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships, and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai, and Beijing. For more information, visit https://www.kpcb.com and follow us @kpcb.
Qumulo enables enterprises to manage and store billions of digital assets with real-time visibility and control built directly into the file system. Going past the design limitations of legacy NAS, Qumulo Core is modern scale-out storage for the new era of multi-petabyte data footprints on premises and in the cloud. It is used by the leaders of data-intensive industries. Founded in 2012 by the inventors of scale-out NAS, Qumulo has attracted a world-class team of innovators, investors and partners. For more information, visit www.qumulo.com.
Tanya Espe Carlsson
Kulesa Faul for Qumulo