Pure Storage Raises $150M And Sets For Battle With The Storage Giants

Today

TechCrunch

Pure Storage has raised $150 million for its super-fast and feature-rich flash storage technology. The round was led by T. Rowe Price, Tiger Global Management and “other public market investors,” along with participation from previous investors Greylock Partners, Index Ventures, Redpoint Ventures, Samsung Ventures and Sutter Hill Ventures. The new funding brings the company’s total capital raise to $245 million. The company said in its announcement that the funding puts it on track to pursue an IPO.

Flash storage is a hot sector of the enterprise market. Hard drives with mechanical disks can’t move data as fast as customers want. Solid-state flash does not have the encumbrance of all those moving parts, which enables data to move at a scale far faster than with hard disks.

Pure Storage has capitalized in the market by providing a pure-flash system. It is in direct competition with EMC, the storage technology leader…

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