Key Markets Driving Growth in Enterprise Storage

NOVEMBER 2018
ENTERPRISE STORAGE

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report – Enterprise Storage - Nov 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on November 14, 2018.
Enterprise Storage Feed Summary
4
Enterprise Storage > Feed Summary
Products designed to assist large organizations with saving and retrieving large volumes of digital information.
• Inclusions: Hardware and Software-based storage
solutions enabling storage functionality such as
backup, storage management, file system etc.Sample
business models : NAS, Hybrid Storage, Storage
Management, Converged Infrastructure
• Exclusions: Cloud storage providers such as
Dropbox. Companies providing consulting, services,
and re-sellers of Enterprise Storage equipment.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$14.1B
Funding
97
Mega
Companies
421835
FundedCovered on
Tracxn
21
Unicorns
25
Soonicorns
13
Minicorns
52
IPO’d Cos
274
Late Stage Cos
123
217
Acquisitions
60
DeadPooled
-
Acquihired
Series A+ Cos
Dell
(1984, Round Rock, $45.6M)
Western Digital
(1970, Irvine)
NetApp
(1992, Sunnyvale)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Enterprise Storage
5
$250M - Series D
Cohesity (2013, Santa Clara, $410M)
$93M - Series D
Qumulo (2012, Seattle, $230M)
$180M - Series D
Rubrik (2014, Palo Alto, $292M)
$90M - Series C
$100M - Series F
Actifio (2009, Waltham, $308M)
$80M - Series F
Druva (2008, Sunnyvale, $200M)
$95M - Series C
Infinidat (2011, Waltham, $325M)
$75M - Series F
Kaminario (2008, Yokneam Illit, $243M)
$94M - Series E
Cloudian (2011, Foster City, $176M)
$68M - Series B
Wasabi (2015, Boston, $76.2M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Enterprise Storage > Feed Summary > Investment Trend Summary
Seed
Accel Partners (#1), Nexus Venture Partners (#1), General
Catalyst Partners (#1)
Series A/B
Intel Capital (#7), Lightspeed Venture Partners (#6), Battery
Ventures (#5)
Series C+
Western Digital Capital (#5), Cisco Investments (#4), Northern
Light Venture Capital (#2)
Incubators Techstars (#2), 500 Startups (#1), Jerusalem Venture Partners
(#1)
Other Notable
Investors
Dell Technologies(#6), Credit Suisse (#3), Goldman Sachs (#3)
Debt Investors
Western Technology Investment (#17), Hercules Capital (#5),
Kreos Capital (#5)
Most Active InvestorsRecent Investments
43
52
42
33
17
4
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded 74 71 57 42 48 36
$12B
$789M
$314M
$174M
$14.5M
US
Israel
Europe
Canada
SEA
$ Funding
$1B
$1.2B
$1.5B $1.4B
$884M
$1B
$2.1B
39
2013 2014 2015 2016 2017 2018*
$ Funding $ Funding Predicted
# Rounds # Rounds Predicted

Summary of exit outlook in Enterprise Storage
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Lightspeed Venture
Partners
8
Nutanix (2009, San Jose, $340M)
New Enterprise
Associates
8
Tintri (2008, Mountain View, $260M)
SolidFire (2010, Boulder, $150M)
Accel Partners 6
SimpliVity (2009, Westborough, $276M)
Virident Systems (2006, Milpitas, $116M)
Sequoia Capital 6
Nimble Storage (2007, San Jose, $90.5M)
Mayfield 6
Mimosa Systems (2003, Santa Clara, $55.4M)
SanDisk (1988, Milpitas)
Mar 2018 Microsemi Acq by Microchip for $8.4B
Dec 2015 Inotera memories Acq by Micron for $4B
Oct 2015 SanDisk Acq by Western Digital for $19B
Oct 2015 EMC Acq by Dell for $67B
Sep 2013 Dell Acq by Silver Lake for $24.9B
Mar 2012 HGST Acq by Western Digital for $4.8B
Jul 2009 Data Domain Acq by EMC for $2.4B
Enterprise Storage > Feed Summary > Exit Outlook Summary
EMC 18
Data Domain (Jul 2009, $2.4B), Isilon (Nov 2010, $2.2B), Legato
(Jul 2003, $1.3B)
Dell 7
EMC (Oct 2015, $67B), Equallogic (Nov 2007, $1.4B),
Compellent Technologies (Dec 2010, $800M)
Cisco 7
NuSpeed Internet Systems (Jul 2000, $450M), Whiptail (Sep
2013, $415M), Springpath (Sep 2017, $320M)
Hewlett-Packard 6
3PAR (Sep 2010, $2.4B), Lefthand Networks (Oct 2008, $360M),
Polyserve (Feb 2007)
NetApp 6
SolidFire (Feb 2016, $870M), Spinnaker Networks (Nov 2003,
$300M), Onaro (Jan 2008, $120M)
Recent IPOs Top Acquisitions
DataDepositBox Mar 2015
Continous Backup and recovery platform
IPO MCap: -
Nimble Storage Dec 2013
Primary Storage,Backup,Disaster Recovery
IPO MCap: $1.5B
Quantum Sep 2012
Hybrid Storage | Backup & Recovery
IPO MCap: -
Innodisk Mar 2012
Industrial embedded flash and DRAM storag…
IPO MCap: -
Tintri Jun 2017
Smart storage for virtualization & cloud
IPO MCap: $216M
Nutanix Sep 2016
Converged Compute and storage infrastruct…
IPO MCap: $2.2B
Adesto Oct 2015
Low power CBRAM for IoT, health
IPO MCap: $73.9M
Pure Storage Oct 2015
All-flash Enterprise Storage
IPO MCap: $425M

FACTSHEET
Overview
Companies 835
Funded 421 Series A+ 274
Funding $14.1B Last 2 yrs $2.2B
Most Active Investors
Seed Accel Partners (1)
Series A/B Intel Capital (7)
Series C+ Western Digital Capital (5)
Others Dell Technologies (6)
Incubators Techstars (2)
Top Cities
Bay Area 179 Cos $6.5B
Waltham 6 Cos $624M
Feed in Numbers
Unicorns 21 Soonicorns 25
Minicorns 13 Editor Picks 69
Acquihired - Deadpooled 60
Top Companies
NetApp (1992, Sunnyvale)
Dell (1984, Round Rock, $45.6M)
Western Digital (1970, Irvine)
Exits
IPOs 52 Nutanix, Nimble Storage
Acquisitions 217 EMC, Dell
Top Acquirers EMC, Dell
Marketmap: Enterprise Storage
STORAGE MEDIA
STORAGE ARCHITECTURE
NAS
SAN
CONVERGED
INFRASTRUCTURE
HYBRID STORAGE
ALL FLASH ARRAYS
NON-VOLATILE RAM
SOLID STATE DRIVE
HARD DISK DRIVE
SOFTWARE
DATA STORAGE
SOFTWARE-DEFINED
STORAGE*
OBJECT STORAGE
FILE SYSTEM
BACKUP
STORAGE MANAGEMENT
MANAGEMENT
CLOUD
LOCAL
SUITE
For any Feedback and Query reach out to MyAnalyst@tracxn.com
* Upcoming Business Model
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
Enterprise Storage > Feed Summary > BlueBox
7

Key Sub Sectors in Enterprise Storage Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Storage Media >
All Flash Arrays 29 $236M 10
Software Defined Storage 43 $143M 11
Converged Infrastructure >
Hyper-Converged Infrastructure 11 $445M 5
Backup >
Suite 43 $227M 6
Storage Media >
Hybrid Storage 22 $263M 5
Backup >
Cloud 196 $114M 9
Data Storage >
Object Storage 23 $136M 8
Converged Infrastructure 26 $213M 5
Storage Media >
SSD 38 $17.4M 4
Storage Management 46 $55.2M 3
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Storage Media
Companies that design and manufacture data storage
devices
144 91 $4.6B
Storage Architecture
Companies that provide products for storage
architecture
136 89 $2.8B
Backup
Companies that provide hardware or software
products that enable backing up of data
353 101 $2.2B
Converged Infrastructure
Companies that provide products for consolidation,
centralization of IT resources, further...
37 26 $2B
Software Defined Storage
Companies that provide data storage technologies
which separate storage hardware from...
43 31 $802M
Storage Management
Companies that provide management solutions that
help organizing and maximize or improve...
61 40 $747M
Data Storage
Companies that provide products for addressing and
manipulating data storage
39 25 $486M
Enterprise Storage > Feed Summary > Summary of Key Markets

List of Notable Companies in Enterprise Storage
Notable Companies in the Sector (1/3)
9
Note: *(Founded Year, Location, Total Funding)
Enterprise Storage > Feed Summary > Notable Companies in the Sector
Public
Nutanix
(2009, San Jose, $340M)*
Commvault
(1996, Middletown)
Gadzoox Networks
(1996, San Jose, $16.4M)
Crossroads
(1996, Austin)
Pure Storage
(2009, Mountain View, $528M)
Iron Mountain
(1951, Boston)
Carbonite
(2005, Boston, $66M)
Tintri
Smart Disk
(1994, Fort Myers)
Adesto
(2007, Sunnyvale, $72.7M)
Public
4DS Memory
(2007, Fremont)
LeoNovus
(2009, Sunnyvale)
OCZ Storage Solutions
(2002, San Jose, $69M)
Overland Storage
(1980, San Jose, $51.1M)
KeepItSafe
(1995, Los Angeles, $13.6M)
Dropsuite
(2012, Singapore, $5M)
IceWEB
(1994, Sterling, $4M)
NetApp
(1992, Sunnyvale)
Western Digital
(1970, Irvine)
BakBone Software
(2000, San Diego)
Public
Quantum
(1980, San Jose)
Accusys
(1996, Zhubei)
GSI Technology
(1995, Cupertino)
UMAX
(1987, Taipei)
DataDepositBox
(2002, Toronto)
FalconStor
(2000, Melville)
Hitachi Data Systems
(1989, Santa Clara)
Innodisk
(2005, Taipei)
Metrofile
(1983, Johannesburg)
Princo Corp.
(1983, Hsinchu)
Public
Taiyo Yuden
(1977, Tokyo)
Technicolor
(1915, Moulineaux)
Thecus
(2004, Taipei)
Acquired
EMC
(1979, Hopkinton)
Dell
(1984, Round Rock, $45.6M)
SanDisk
(1988, Milpitas)
Microsemi
(1959, Aliso Viejo)
HGST
(2003, San Jose)
Inotera memories
(2003, Taoyuan City)
Data Domain
(2001, Santa Clara)
3PAR
(1999, Fremont)
Isilon
(2001, Seattle, $59.9M)
Seagate
(1979, Scotts Valley)

10
Acquired
Equallogic
(2001, Nashua, $47M)
QLogic
(1994, Aliso Viejo)
Legato
(1988, Mountain View)
Numonyx
(2008, Rolle, $150M)
Fusion-io
(2006, Salt Lake City, $112M)
Nimble Storage
(2007, San Jose, $90.5M)
SolidFire
(2010, Boulder, $150M)
Compellent
Technologies
(2002, Eden Prairie, $29.3M)
McData
(1982, Broomfield)
Dot Hill
(1984, Longmont, $8.8M)
Acquired
Virident Systems
(2006, Milpitas, $116M)
SimpliVity
(2009, Westborough, $276M)
Giganet
(1994, Worcester, $41M)
Corsair
(1994, Fremont, $75M)
Anobit
(2006, Herzliya, $72M)
SandForce
(2006, Fremont, $46M)
NuSpeed Internet
Systems
(2000, Maple Grove)
XtremIO
Whiptail
(2008, Whippany, $41M)
OTG Software
(1997, Hopkinton)
Acquired
Zantaz
(1996, Pleasanton, $94M)
Xyratex
(2009, Havant)
Lefthand Networks
(1999, Boulder, $50.5M)
ConvergeNet
Technologies
(1997, San Jose, $30M)
Pliant Technology
(2006, Milpitas, $50.3M)
Springpath
(2012, Sunnyvale, $34M)
SMART Storage Systems
(2008, Newark)
Spinnaker Networks
(1999, Irvine, $51.4M)
CrosStor Software
(1990, South Plainfield)
SGI
(1980, Fremont)
Acquired
Pathlight Technology
(1995, Ithaca)
Smarsh
(2001, Portland, $6.7M)
Iomega
(1980, San Diego)
Acopia Networks
(2002, Lowell, $86M)
InktankProtected
Tweets
(2012, Los Angeles, $14.4M)
3Ware
(1997, San Francisco, $69M)
Avamar
(1999, Irvine, $40.3M)
PowerQuest
(1993, Orem, $10M)
Mozy
(2005, Draper, $1.9M)
Storwize
(2004, Los Gatos, $30.9M)
Acquired
Gluster
Skydesk
(1996, San Diego, $27M)
Archivas
(2004, Waltham, $12M)
Onaro
(2002, Boston, $10M)
Connected
(1996, Boston, $23.5M)
Mimosa Systems
(2003, Santa Clara, $55.4M)
Sanera

11
Unicorns
Infinidat
(2011, Waltham, $325M)
Actifio
(2009, Waltham, $308M)
Rubrik
(2014, Palo Alto, $292M)
Datto
(2007, Norwalk, $100M)
Veritas
(1989, Mountain View, $18.6M)
Amazon Web Services
(2006, Seattle)
Veeam
(2006, Baar)

List of Notable Companies by Market in Enterprise Storage
Notable Companies by Market (1/14)
13
Enterprise Storage > Feed Summary > Notable Companies by Market
Suite
Suite
Dell (1984, Round Rock, $45.6M)
Enterprise solutions and consumer elecctronics
company
Unicorn. Stage: Acquired
Bank of America Merrill Lynch, Barclays, Credit
Suisse and 5 Other Investors
EMC (1979, Hopkinton)
RSA ECAT | Endpoint Threat Detection and
Response | EMC
GTCR
Enterprise information management and storage
solutions
Unicorn. Stage: Public
Sequoia Capital, Sutter Hill Ventures, TA Associates
Management
Infortrend (1993, Taipei)
Networked Storage Solutions
Soonicorn. Stage: Bootstrapped Large
Suite
Hitachi Data Systems (1989, Santa Clara)
Data Storage, Computer Hardware and Software
Stage: Public
Azini Capital Partners
Storage Media
Optical Storage
Metrofile (1983, Johannesburg)
Document management products and services
Stage: Public
Princo Corp. (1983, Hsinchu)
Tool coating, optical storage and SiP chip
manufacturer
Stage: Public
Taiyo Yuden (1977, Tokyo)
Electronic components and optical media solutions
Stage: Public
Technicolor (1915, Moulineaux)
Media Conglomerate providing production and
distribution services
Stage: Public
Vector Capital

14
Storage Media
HDD
Western Digital (1970, Irvine)
Manufacturer of computer data storage devices
Herald Investment Management
HGST (2003, San Jose)
Helium filled hard drives
Stage: Acquired
Smart Disk (1994, Fort Myers)
External storage drives, portable Flash and hard
disk-based drives
Stage: Acquired
Zenerji
Xyratex (2009, Havant)
Disk drives and storage technology
Stage: Acquired
HgCapital
SSD
PCIe SSDs, Flash Storage Hardware and Software
Products
Stage: Acquired
Seagate, Mitsui Global, Globespan Capital Partners
and 11 Other Investors
Fusion-io (2006, Salt Lake City, $112M)
Flash Storage via PCIe
Meritech Capital Partners, Accel Partners,
Andreessen Horowitz and 11 Other Investors
Corsair (1994, Fremont, $75M)
DRAM and SSDs
Soonicorn. Stage: Acquired
Francisco Partners, Norwest Venture Partners,
Columbia Capital and 1 Other Investors
SSD
Anobit (2006, Herzliya, $72M)
Flash storage solutions
Intel Capital, Pitango Venture Capital, Battery
Ventures and 1 Other Investors
3Ware (1997, San Francisco, $69M)
RAID Storage Solutions
Stage: Acquired
New Enterprise Associates, Vantage Capital Fund
Managers, Selby Ventures and 6 Other Investors
OCZ Storage Solutions (2002, San Jose, $69M)
Solid State Drives
Stage: Acquired
Smile Gate Investment, Hercules Capital
Pliant Technology (2006, Milpitas, $50.3M)
Enterprise All Flash Drives (EFDs)
Stage: Acquired
Arcturus Capital, Lightspeed Venture Partners,
Menlo Ventures and 1 Other Investors

15
Storage Media
SSD
SandForce (2006, Fremont, $46M)
Developer of flash processor and controllers
Stage: Acquired
Canaan Partners, Storm Ventures, TransLink
Capital and 6 Other Investors
UMAX (1987, Taipei)
Manufacturer of DRAM and NAND flash memory
products
Stage: Public
Innodisk (2005, Taipei)
Industrial embedded flash and DRAM storage
peripherals
Stage: Public
Supplier of flash memory cards
Stage: Acquired
Endeavour Vision, Mayfield, Oak Investment
Partners and 3 Other Investors
SSD
SMART Storage Systems (2008, Newark)
Solid State Storage Devices
Stage: Acquired
Silver Lake
All Flash Arrays
Pure Storage (2009, Mountain View, $528M)
Firsthand Technology Value Fund, T. Rowe Price,
Sutter Hill Ventures and 12 Other Investors
Insight Venture Partners, New Enterprise
Associates, Menlo Ventures and 6 Other Investors
All-flash enterprise array
Soonicorn. Stage: Series F
Western Digital Capital, Sequoia Capital, Pitango
Venture Capital and 12 Other Investors

16
Storage Media
All Flash Arrays
SolidFire (2010, Boulder, $150M)
Cloud computing Infrastructure
Stage: Acquired
Greenspring Associates, New Enterprise Associates,
Novak Biddle Venture Partners and 2 Other
Investors
Vexata (2014, San Jose, $54M)
Active data storage solutions for data-intensive
applications
Soonicorn. Stage: Series B
Mayfield, Intel Capital, Lightspeed Venture Partners
Whiptail (2008, Whippany, $41M)
All-Flash Storage Systems
Stage: Acquired
Spring Mountain Capital, Silicon Valley Bank,
Ignition Partners and 2 Other Investors
All Flash Arrays
XtremIO (2009, Herzliya, $25M)
SSD Data Storage
Stage: Acquired
Lightspeed Venture Partners, Giza Venture Capital,
Jerusalem Venture Partners and 2 Other Investors
NVRAM
Numonyx (2008, Rolle, $150M)
Non-volatile memory design for consumer and
industrial needs
Francisco Partners
Nantero (2001, Woburn, $142M)
Enabling faster storage using carbon nanotubes
(CNTs)
Schlumberger, Dell, Cisco Investments and 10 Other
Investors
Crocus Technology (2004, Santa Clara, $112M)
Magnetic technology based Sensor & RAM
developer
NanoDimension, Innovation Capital, Idinvest

17
Storage Media
NVRAM
Diablo Technologies (2003, Ottawa, $101M)
Fabless semiconductors
Soonicorn. Stage: Series C
Israel Cleantech Ventures, Battery Ventures, Celtic
House Venture Partners and 6 Other Investors
Crossbar (2010, Santa Clara, $100M)
Pioneering non-volatile RRAM memory technology
Soonicorn. Stage: Series D
Artiman Ventures, Korea Investment Partners,
Oriza Holdings and 11 Other Investors
Adesto (2007, Sunnyvale, $72.7M)
Minicorn. Stage: Public
Wellington Management, Opus Bank, Adams Street
Microsemi (1959, Aliso Viejo)
IC and semiconductor developer for multiple
applications
Opus Capital
NVRAM
Inotera memories (2003, Taoyuan City)
Provides DRAM foundry services
4DS Memory (2007, Fremont)
Interface switching ReRAM
Stage: Acquired
SRAM
GSI Technology (1995, Cupertino)
Manufacturer of high-performance memory
product
Stage: Public

18
Storage Media
Hybrid Storage
Low-cost hybrid storage provider
Unicorn. Stage: Series C
Goldman Sachs, TPG, Security Growth Partners
Tegile (2010, Newark, $178M)
Hybrid Storage Arrays
Meritech Capital Partners, Capricorn, Cross Creek
Advisors and 6 Other Investors
Nimble Storage (2007, San Jose, $90.5M)
Sequoia Capital, Accel Partners, Lightspeed Venture
Quantum (1980, San Jose)
Stage: Public
Mayfield
NAS
CTERA (2008, Petah Tikva, $100M)
Cloud storage enablement and sync
Red Dot Capital Partners, Benchmark Capital,
Bessemer Venture Partners and 8 Other Investors
Panzura (2008, Campbell, $90M)
Global Cloud Storage System
Soonicorn. Stage: Series E
Matrix Partners, Meritech Capital Partners, Opus
Acopia Networks (2002, Lowell, $86M)
Intelligent file virtualization
Stage: Acquired
Meritech Capital Partners, Accel Partners, Charles
River Ventures and 9 Other Investors
Isilon (2001, Seattle, $59.9M)
Scale-out Network Attached Storage (NAS)
Stage: Acquired
Focus Ventures, Sequoia Capital, Atlas Venture and
5 Other Investors
NAS
Spinnaker Networks (1999, Irvine, $51.4M)
Fiber Channel and ATA disk based NAS Solutions
Stage: Acquired
Norwest Venture Partners, Menlo Ventures, Mellon
Ventures
Crossroads (1996, Austin)
Data storage and protection solutions
Stage: Public
Techquity, Fortress Investment, Iron Mountain and
2 Other Investors
CrosStor Software (1990, South Plainfield)
Software for network attached storage
Stage: Acquired
Iomega (1980, San Diego)
NAS Storage Solutions
Stage: Acquired
U.S Venture Partners

19
NAS
SGI (1980, Fremont)
High-performance computing hardware
manufacturer
Stage: Acquired
Tennenbaum Capital Partners, New Enterprise
Associates, Mayfield and 4 Other Investors
Thecus (2004, Taipei)
NAS, DAS and Network video recorder solutions
Stage: Acquired
SAN
Sanera (2000, Sunnyvale, $73.3M)
Enterprise storage networking solutions
Stage: Acquired
ArrowPath Venture Partners, Greylock Partners,
CMEA Capital and 5 Other Investors
Lefthand Networks (1999, Boulder, $50.5M)
SANs built around iSCSI (Internet Small Computer
System Interface)
Stage: Acquired
Boulder Ventures, Sequel Venture Partners, Garage
Technology Ventures and 12 Other Investors
Equallogic (2001, Nashua, $47M)
Storage are network systems
Stage: Acquired
Focus Ventures, Charles River Ventures, Sigma
SAN
Giganet (1994, Worcester, $41M)
iSCSI networking solutions
Stage: Acquired
HarbourVest Partners, H&Q Asia Pacific, NTT
Docomo Ventures and 2 Other Investors
ConvergeNet Technologies (1997, San Jose,
$30M)
SAN management solutions
Stage: Acquired
Sierra Ventures, Berkeley VC International, TeleSoft
Partners
Compellent Technologies (2002, Eden
Prairie, $29.3M)
Enterprise Network Storage
Stage: Acquired
Nomura, El Dorado Ventures, Cargill and 4 Other
Investors

20
SAN
Gadzoox Networks (1996, San Jose, $16.4M)
Fibre channel switching technology for Storage
Area Networks (SAN)
Stage: Acquired
New Enterprise Associates, ONSET Ventures
Dot Hill (1984, Longmont, $8.8M)
SAN storage arrays and software
Stage: Acquired
Accusys (1996, Zhubei)
Manufacturer of compact shared storage workflow
controller and PCIe Storage
Stage: Public
McData (1982, Broomfield)
SAN switching solutions
Stage: Acquired
Silverton Partners, Austin Ventures, Norwest
Venture Partners
SAN
NuSpeed Internet Systems (2000, Maple
Grove)
Connects SAN and IP Networks
Stage: Acquired
Rally Ventures, Vesbridge Partners
Pathlight Technology (1995, Ithaca)
SAN Gateway and SAN router solutions
Stage: Acquired
Rand Capital, Huntington Ventures, Hudson
Venture Partners
QLogic (1994, Aliso Viejo)
Storage and Converged networking components
Stage: Acquired
Citadel, Saints Capital, Western Technology
Investment
Data Storage
File System
Gluster (2005, Sunnyvale, $12.5M)
Open source, software-defined storage
Stage: Acquired
Index Ventures, Nexus Venture Partners

21
Data Storage
Object Storage
Cloud Object Storage for enterprises
Forestay Capital, Ernesto Bertarelli, Brooks Hill
Amazon Web Services (2006, Seattle)
Cloud computing and hosting platform from
Amazon
Unicorn. Stage: Unfunded
LeoNovus (2009, Sunnyvale)
Data storage and security solution provider
Editor's Pick. Stage: Public
Clarus Securities, Pinetree Capital
Cloud Object Storage and Converged Infrastructure
provider
Digital, INCJ, NTT Docomo Ventures and 9 Other
Investors
Datrium (2012, Sunnyvale, $170M)
IO processing & active data converging storage
device
Samsung Catalyst, Icon Ventures, New Enterprise
Associates and 1 Other Investors
Hyper-Converged Infrastructure
Hybrid secondary storage with insights and
analytics
SoftBank Investment Advisers, Cisco Investments,
Hewlett Packard Enterprise and 14 Other Investors
Converged Compute and storage infrastructure
Goldman Sachs, Riverwood Capital, Morgan Stanley
Optimized IT Infrastructure Platform
Charles River Ventures, Meritech Capital Partners,
Accel Partners and 7 Other Investors

22
Hyper-Converged Infrastructure
Pivot3 (2003, Austin, $230M)
All flash hyper converged appliance
Soonicorn. Stage: Series G
S3 Ventures, InterWest Partners, Mesirow Financial
Skyport Systems (2013, Mountain View, $67M)
Computing infrastructure for enterprise
applications
GV, Thomvest Ventures, Northgate Capital and 5
Other Investors
Springpath (2012, Sunnyvale, $34M)
Distributed file system for hyperconvergence
Stage: Acquired
Cisco Investments, Sequoia Capital, Redpoint
Scality (2010, San Francisco, $152M)
Software defined storage
Harbert Management, Hewlett Packard Enterprise,
Broad Tower Inc. and 12 Other Investors
InktankProtected Tweets (2012, Los
Angeles, $14.4M)
Scale-out storage software and distributed file
system
Stage: Acquired
Shuttleworth, FinTech Innovation Lab
Copy Data Management
Copy data virtualization
Unicorn. Stage: Series F
Crestline Investors, North Bridge, 83North and 9
Other Investors

23
Backup
Local
Zantaz (1996, Pleasanton, $94M)
Content archiving and e-discovery
Stage: Acquired
General Atlantic, Silicon Valley Bank, Finova Capital
Avamar (1999, Irvine, $40.3M)
Backup and Recovery Software
Stage: Acquired
Lightspeed Venture Partners, Ventures, Benchmark
PowerQuest (1993, Orem, $10M)
Data storage management and recovery software
Stage: Acquired
Cornerstone Capital, Edgewater Funds, Peninsula
Arcserve (1990, Minneapolis)
Backup and recovery for physical and virtual
environments
Soonicorn. Stage: Funded
Marlin Equity Partners
Local
BakBone Software (2000, San Diego)
Data protection software
Stage: Acquired
Tippet Venture Parters, Innovative Capital Ventures
Data Domain (2001, Santa Clara)
Backup, recovery and deduplication
Stage: Acquired
New Enterprise Associates, Sutter Hill Ventures
Legato (1988, Mountain View)
Unified Platform for Backup and Recovery Software
Stage: Acquired
Mayfield
Enabler - Cloud
Connected (1996, Boston, $23.5M)
Storage software for automated protection,
archiving and recovery of distributed data
Stage: Acquired
Intel, SoftBank Group, Granite Ventures and 5 Other
Investors
FalconStor (2000, Melville)
Data Migration and Disaster Recovery
Stage: Public
Hales Capital Partners, Herald Investment
Management, Rembrandt Venture Partners

24
Backup
Cloud
Backup & data loss prevention solution for
enterprises
Riverwood Capital, Nexus Venture Partners, Tenaya
Code42 (2001, Minneapolis, $138M)
Cloud based endpoint data protection, backup &
security solution
Accel Partners, Split Rock Partners, New Enterprise
Associates and 1 Other Investors
Carbonite (2005, Boston, $66M)
Hybrid Backup and recovery for consumers and
small business
Stage: Public
Crosslink Capital, Menlo Ventures, Performance
Equity Management and 14 Other Investors
Cloud
Skydesk (1996, San Diego, $27M)
Online data backup services for the small
office/home office market
Stage: Acquired
Qualcomm Ventures, Hikari Tsushin, Merrill Lynch
KeepItSafe (1995, Los Angeles, $13.6M)
Online backup and recovery
Stage: Acquired
Northzone
Archivas (2004, Waltham, $12M)
Digital archiving solutions
Stage: Acquired
Polaris Partners, Solstice Capital, North Bridge
Smarsh (2001, Portland, $6.7M)
Archiving and compliance solution for companies in
regulated and litigious industries.
Stage: Acquired
Fallbrook Private Equity, Toba Capital
Cloud
Dropsuite (2012, Singapore, $5M)
Back up products
Stage: Public
Hatcher, 500 Startups, ThinKuvate and 1 Other
Investors
Mozy (2005, Draper, $1.9M)
online Backup for personal and enterprise
customers
Stage: Acquired
EPIC Venture Fund
Iron Mountain (1951, Boston)
Online Backup and data protection services
StarVest Partners, Solstice Capital, Entree Capital
DataDepositBox (2002, Toronto)
Stage: Public

25
Backup
Suite
De-duplicated storage based converged data
management platform
Unicorn. Stage: Series D
John Chambers, IVP, Lightspeed Venture Partners
StorageCraft (2003, Draper, $187M)
Backup solutions for Enterprise, OEM and small
businesses
Soonicorn. Stage: Funded
TA Associates Management
Datto (2007, Norwalk, $100M)
Backup storage provider with NAS
TCV, General Catalyst Partners, Solar Capital
Suite
Veritas (1989, Mountain View, $18.6M)
Information Mangagement & backup appliances
and software
Lok Capital, CDC Group, GlidePath Partners and 6
Other Investors
Veeam (2006, Baar)
Backup Solutions for VMware and Hyper-V
Unicorn. Stage: Funded
Insight Venture Partners, ABRT Venture Fund,
Trend Forward Capital Management
Commvault (1996, Middletown)
Enterprise Backup Software and appliance
Soonicorn. Stage: Public
Elliott Management, Credit Suisse, Van Wagoner
Storage Management
Storage Management
Mimosa Systems (2003, Santa Clara, $55.4M)
Enterprise Content Archiving
Stage: Acquired
August Capital, Clearstone Venture Partners, Dot
Edu Ventures and 7 Other Investors
Onaro (2002, Boston, $10M)
Storage Management Software for SAN and
appliances
Stage: Acquired
Cedar Fund, Newbury Ventures
IceWEB (1994, Sterling, $4M)
High performance unified storage appliances
Stage: Public
Seagate (1979, Scotts Valley)
NAS storage devices for enterprise
Jon Staenberg, Credit Suisse, The Woodside
Financial Group and 8 Other Investors

26
Storage Management
Storage Management
3PAR (1999, Fremont)
Disk arrays and storage management software
Stage: Acquired
Van Wagoner Ventures, Stratim Capital, Menlo
OTG Software (1997, Hopkinton)
Data Management solutions
Stage: Acquired
Updata, ABS Capital
Storage Clients
Overland Storage (1980, San Jose, $51.1M)
Data storage management
Stage: Public
Matrix Partners
Data Compression
Storwize (2004, Los Gatos, $30.9M)
Real-time Data Compression
Stage: Acquired
Bessemer Venture Partners, Sequoia Capital,
Lehman Brothers and 2 Other Investors

List of Notable Companies in Enterprise Storage in China
Notable Companies in the Sector in China
27
Enterprise Storage > Feed Summary > Notable Companies in the Sector in China
Unicorns
Jinshan Yun
(2012, Beijing, $1.4B)

Recent News in Enterprise Storage Sector
Recent News
28
Nov 2018 Workday Customers Live on Amazon Web Services, Financial IT
Nov 2018 U.S. ClearSky Data lands $20 million in funding round, investsize.com
Nov 2018
Huawei, Bright Computing to offer HPC services accelerated by
ARM, AI capabilities, Telecompaper
Nov 2018
Dell taps banks to raise more cash for tracking stock offer - sources,
Reuters
Nov 2018
Daikin Adopts Infortrend Storage for Mission-Critical Business
Applications, PR Newswire
Nov 2018
Dathena announces closing of Pre-Series A round, led by CerraCap
Ventures, PR Newswire
Nov 2018 Amazon Web Services to Open Data Centers in Italy, Business Wire
Nov 2018
Cirrascale Cloud Services Delivers Automated Machine Learning
Solutions with H2O Driverless AI and IBM Power Systems, PRWeb
Nov 2018
Get off of your cloud: AWS CEO claims move away from Oracle is
imminent, Cloud Tech News
Nov 2018
Scale Computing Honored with 2018 CRN® Tech Innovator Award,
PRWeb
Nov 2018
Adesto’s EcoXiP Supports New JEDEC Standards to Pave the Way for
a New Era of Smart Devices and Edge Processing, AIThority
Nov 2018
Global Blockchain Market Growth Analysis By Top Leading Players
like IBM, Microsoft, SAP, AWS, Ripple, R3, Alphapoint, Bitfury &
more, Algos Online
Key Recent News Key Recent News
Nov 2018
Artificial Intelligence (AI) in Retail Market 2024 Key Information by
Top Key Players Google, Microsoft, IBM, AWS, Baidu, Intel, Oracle,
SAP, Salesforce.com, Algos Online
Nov 2018
Cobalt Iron Adds Virtual Tape Library Functionality to Its Adaptive
Data Protection SaaS Solution, PRWeb
Nov 2018
Latest Version of Bright Cluster Manager Deployed at Binghamton
University by Data In Science Technologies, PRWeb
Nov 2018
RISC Networks Announces New Features and Upcoming
Sponsorship of AWS re:Invent 2018, PRWeb
Nov 2018
Amazon Web Services Launches Second GovCloud Region in the
United States, Business Wire
Nov 2018
The Ceph storage project gets a dedicated open-source foundation,
Tech News Universe
Nov 2018
INFINIDAT Named a Leader in the 2018 Gartner Magic Quadrant for
General-Purpose Disk Arrays, GlobeNewswire
Nov 2018
AWS Clears Enlighten IT as Managed Service Provider on GovCloud;
Dave Levy Quoted, GovCon Wire
Nov 2018
Pavilion Data Announces the Industry’s Fastest NVMe All-Flash
Array Write Speed and New Security Enhancements in Latest
Product Release, Business Wire
Nov 2018
SoftIron Joins Founding Board of The Ceph Foundation,
technologies.org
Nov 2018
NGD Systems Co-Chairs New SNIA Computational Storage Technical
Work Group, PRWeb
Enterprise Storage > Feed Summary > Recent News

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
29
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Continued Learning
Oct 2018
Data Center Infrastructure
Oct 2018
AdTech
Oct 2018

Investments ($M) and number of rounds in Enterprise Storage; 2011-2018
Global Funding Trends (1/2)
31
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Enterprise Storage > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 12% # of Rounds10% $ Funding
4% # of Rounds
11% $ Funding
$1B
$581M
$892M
$1.2B
$1.5B
$1.4B
$884M
$1B
$2.1B
0
10
20
30
40
50
60
70
80
90
100
$0k
$500M
$1.B
$1.5B
$2.B
$2.5B
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

8 14 14 14 11 5 10 6
36 42 32 30 26
20
21 17
17
30
28 27 20 17 17 13
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
61
36
Total # of Rounds
$10M $18M $11M $8M $6M $6M $15M $5M
$288M
$380M
$404M $272M
$662M
$221M
$204M $234M
$283M $495M $748M
$1.2B
$704M
$657M $830M $788M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
32
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Enterprise Storage; 2011-2018
Enterprise Storage > Investment Trends > Global Funding Trends
50
21
21
18
10
19
3
142
$6M
$6.8M
$0.0M
$2.0M
$4.0M
$6.0M
$8.0M
$10.0M
$12.0M
$14.0M
0
20
40
60
80
100
120
140
160
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
$6M $9.8M $4.1M $12.6M $7.9M $7.1M $0.1M $6.8M
$899M
$232M
$522M
$880M
$1.2B
$1.1B
$740M
$924M
$1.9B
15
0
5
10
15
20
25
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
1.6E+09
1.8E+09
2E+09
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
8 19 21 21 18 16 18 14
$581M
$1B
Total $ Invested

Enterprise Storage > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Enterprise Storage
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 6.5B 343
Waltham 624M 12
Austin 372M 33
Seattle 357M 24
Westborough 346M 11
Longmont 309M 23
Herzliya 286M 18
Boston 281M 20
San Diego 240M 28
Boulder 231M 12
Total Funding
98
47
49
13
5
4
1
# Rounds
$12B
$789M
$314M
$174M
$14.5M
$13.7M
$1.4M
US
Israel
Europe
Canada
SEA
India
Japan
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$1.4 $1.5
$0.9 $0.8 $0.8
$1.2
$2.1
2011 2012 2013 2014 2015 2016 2017
$5.5
$8.2
$12.5
$9.1
$6.8 $7.7 $7.8
$11.8 $12.8 $13.6 $15.5
$44.1
$18.0
$22.3
$17.7 $16.5
$32.5
$49.4
$39.1 $43.8
$51.9
Enterprise Storage > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Enterprise Storage; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10K* $6M
$39.5K $52.5M
$18.8K $150M
$39.5K $250M
$24.5M
$13.8M
$5.9M
$717K
Series C+
Series B
Series A
Seed
Stage

Note: 128 companies with undisclosed funding amount are not included
35
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
24
67
120
57
36
No. of Companies
Enterprise Storage > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Enterprise Storage; as of Nov 2018
Distribution of companies by Funding Range
$10M
$299M
$2.9B
$3.9B
$6.9B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
50%
33%
24%
15%
36
Note: Numbers in the brackets show the count of companies
Time to raise
next round
123
202
274
421
835
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
50% 14%
(118)
13%
(109)
- 7%
(56)
43%
(358)
65% 26%
(111)
24%
(103)
- 7%
(30)
28%
(117)
74% 26%
(70)
19%
(51)
- 5%
(15)
21%
(57)
61% 31%
(62)
21%
(42)
- 5%
(10)
34%
(69)
- 41%
(51)
28%
(34)
- 5%
(6)
33%
(41)
Enterprise Storage > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Enterprise Storage
Funding Funnel
18 Months
16 Months
17 Months
Investment backedBootstrapped
25
21
183
49
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Enterprise Storage > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Enterprise Storage; Nov 2016-Nov 2018
Notable Investments in last 24 months (1/5)
LATE STAGE
$250M - Series D Jun 2018
analytics
Hewlett Packard Enterprise, Sequoia Capital,
Morgan Stanley, Trinity Ventures, Battery Ventures
$180M - Series D Apr 2017
management platform
IVP, Lightspeed Venture Partners, Greylock Partners
$100M - Series F Aug 2018
Copy data virtualization
Crestline Investors, North Bridge, 83North,
Advanced Technology Ventures, Heritage Group,
Andreessen Horowitz
LATE STAGE
$95M - Series C Oct 2017
Low-cost hybrid storage provider
Goldman Sachs, TPG
$94M - Series E Aug 2018
Cloud Object Storage and Converged Infrastructure
provider
Digital, INCJ, NTT Docomo Ventures, Eight Roads
Ventures, Goldman Sachs Investment Partners
$93M - Series D Jun 2018
hybrid scale-out NAS
BlackRock, Goldman Sachs, Highland Capital
Partners, Madrona Venture Group, Valhalla
Partners, Western Digital Capital, Kleiner Perkins
LATE STAGE
$90M - Series C Apr 2017
analytics
GV, Sequoia Capital, Cisco Investments, Hewlett
Packard Enterprise, Accel Partners, Battery
Ventures, Danhua Capital, Foundation Capital,
Qualcomm Ventures, Trinity Ventures, Wing
Venture Capital, ARTIS Ventures
$80M - Series F Aug 2017
Backup & data loss prevention solution for
enterprises
Riverwood Capital, Nexus Venture Partners, Tenaya
Capital, Sequoia Capital
$75M - Series F Jan 2017
Sequoia Capital, Pitango Venture Capital, Globespan
Capital Partners, Silicon Valley Bank, Waterwood,
CIRTech Fund, CE Ventures

LATE STAGE
$67.2M - Series G Aug 2017
S3 Ventures
$60M - Series E Apr 2018
Harbert Management
$60M - Series D Sep 2018
device
Samsung Catalyst, Icon Ventures, New Enterprise
Associates, Lightspeed Venture Partners
$55M - Series C Dec 2016
device
New Enterprise Associates, Lightspeed Venture
Partners
LATE STAGE
$38M - Series F Sep 2017
Nasuni (2009, Natick, $109M)
NAS Filer | Enterprise Storage as a Service
Goldman Sachs
$33M - Series D Apr 2017
Tegile (2010, Newark, $178M)
Hybrid Storage Arrays
Meritech Capital Partners, Capricorn, Cross Creek
Advisors, Western Digital Capital
$32M - Series E Jan 2017
Panzura (2008, Campbell, $90M)
Global Cloud Storage System
Matrix Partners, Meritech Capital Partners, Opus
Capital, Chevron, Western Digital Capital
$30M - Series D Oct 2018
CTERA (2008, Petah Tikva, $100M)
Cloud storage enablement and sync
Red Dot Capital Partners, Benchmark Capital,
Bessemer Venture Partners, Cisco, Venrock, Viola
Group, Vintage Investment Partners, Singtel Innov8
LATE STAGE
$30M - Series C Apr 2017
hybrid scale-out NAS
Madrona Venture Group, Top Tier Capital Partners,
Tyche Partners, Kleiner Perkins, Northern Light
Venture Capital
$29.7M - Series F Apr 2018
(CNTs)
Schlumberger, Dell, Cisco Investments, Kingston,
China Fortune-Tech Capital
$25M - Series F Oct 2018
Western Digital Capital
$23M - Series D Oct 2018
CNEX Labs (2013, San Jose, $90M)
NVMe Controller for SSDs with PCIe
Dell Technologies, M12, Sierra Ventures, Walden
Venture Capital, Brightstone Venture Capital

LATE STAGE
$22.5M - Series C Mar 2017
Reduxio (2012, Petah Tikva, $49.5M)
Multi-tier hybrid storage for primary data
management
C5 Capital, Jerusalem Venture Partners, Intel Capital,
Seagate, Viola Group
$22M - Series E Dec 2016
(CNTs)
Globespan Capital Partners
$21.2M - Series F Oct 2018
Scale Computing (2006, Indianapolis, $90.2M)
Hyperconverged infrastructure systems
$20M - Series D Dec 2017
Nexenta (2005, Santa Clara, $68.9M)
Software-Defined Storage
SoftBank Group, Javelin Venture Partners, Tarkan
Maner
LATE STAGE
$20M - Series C Aug 2017
Primary Data (2013, Los Altos, $143M)
Software for Data Center Evolution
Pelion Venture Partners, Accel Partners, Battery
Ventures
$18.6M - PE Dec 2017
Veritas (1989, Mountain View, $18.6M)
Information Mangagement & backup appliances and
software
Lok Capital, CDC Group
$14.5M - Series D Sep 2017
Crossbar (2010, Santa Clara, $100M)
Pioneering non-volatile RRAM memory technology
$2M - Series F Oct 2018
(CNTs)
Series F Apr 2018
Crocus Technology (2004, Santa Clara, $112M)
Magnetic technology based Sensor & RAM developer
EARLY STAGE
$68M - Series B Sep 2018
Forestay Capital, Ernesto Bertarelli
$54M - Series B Sep 2017
applications
Mayfield, Intel Capital, Lightspeed Venture Partners,
Redline Capital Management
$27M - Series B Nov 2017
StrongBox Data Solutions (2016, Austin,
$27M)
Storage management and archive solutions
Fonds de solidarite FTQ, Partner One Software
$25M - Series B Mar 2018
ScaleFlux (2014, San Jose, $57.3M)
NAND flash based storage solutions - stealth mode
Shunwei Capital

EARLY STAGE
$20M - Series B Nov 2018
ClearSky Data (2014, Boston, $67.2M)
Storage lifecycle management
General Catalyst Partners, Highland Capital Partners,
Polaris Partners
$20M - Series B Apr 2017
Portworx (2014, Redwood City, $28.5M)
Tool for developers and IT Ops to run containerized
apps in on-premise or in the cloud
Sapphire Ventures, GE Ventures, Mayfield
$20M - Series A Sep 2017
Minio (2014, San Francisco, $23.3M)
Open source multi-cloud distributed object storage
server
Dell Technologies, General Catalyst Partners, Nexus
Venture Partners, Intel Capital, AME Cloud Ventures
$20M - Series A Nov 2017
NVXL Technology (2015, Fremont, $20M)
non-volatile SSD storage or compute acceleration
platform
Alibaba Group
EARLY STAGE
$17.3M - Series B Oct 2018
$17M - Series B Aug 2018
Robin Systems (2013, Milpitas, $39M)
Provides high performance operating
infrastructures for Big data technologies.
USAA, Hasso Plattner Ventures, Clear Ventures, DN
Capital
$12.4M - Series B Feb 2018
NGD Systems (2013, Irvine, $26M)
SSD storage solutions
Orange Digital Ventures, Benhamou Global Ventures,
Alcor Micro Corporation, Partech
$6.3M - Series A Dec 2016
Series B Aug 2018
Excelero (2014, Santa Clara, $35M)
Scale-out block storage
Western Digital, Western Digital Capital
EARLY STAGE
Series B Nov 2017
Qualcomm Ventures

SEED STAGE
Angel Oct 2018
management platform
John Chambers

Enterprise Storage > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$720M - Series D Jan 2018
Jinshan Yun (2012, Beijing, $1.4B)
Online platform providing cloud storage and
$300M - Series D Dec 2017
CMIG, Kingsoft Network Technology
$220M - Series D Jan 2018
FOREBRIGHT CAPITAL, Kingsoft Network
Technology
$151M - Series E Aug 2017
Qiniu (2011, Shanghai, $251M)
Cloud based storage solutions provider
Alibaba Group, Yunfeng Capital
LATE STAGE
$37.9M - Series C Apr 2018
XSKY (2015, Beijing, $66.2M)
Open source distributed and cloud based system
storage solutions
New Enterprise Associates, Qiming Venture
Partners, Northern Light Venture Capital

Most Active Investors (VC, PE) by Stage in Enterprise Storage; Last 5 years (Nov 2013-Nov 2018)
Most Active VC & PE Investors
43
Enterprise Storage > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Accel Partners
PrimaryIO
1
General Catalyst Partners
Minio
2
Nexus Venture Partners
Minio
3
Index Ventures
Minio
4
Khosla Ventures
Datera
5
Partech
PrimaryIO
6
GV
Boxbee
7
Floodgate Fund
Boxbee
8
AME Cloud Ventures
Minio
9
Exfinity Venture Partners
PrimaryIO
10
EARLY STAGE
Intel Capital (7 Investments)
Vexata, Skyport Systems, Minio
1
Lightspeed Venture Partners (6
Investments)
Rubrik, Primary Data, Elastifile
2
Battery Ventures(5 Investments)
Cohesity, Primary Data, Elastifile
3
Western Digital Capital(4 Investments)
Elastifile, Everspin, Excelero
4
Accel Partners (3 Investments)
Cohesity, Primary Data, E8 Storage
5
Mayfield(3 Investments)
Vexata, Portworx, Formation Data
6
Qualcomm Ventures(3 Investments)
Cohesity, Weka.IO, Excelero
7
New Enterprise Associates(2 Investments)
Code42, Igneous Systems
8
Redpoint Ventures(2 Investments)
Igneous Systems, Hedvig
9
Kleiner Perkins(2 Investments)
Qumulo, Pavilion Data
10
LATE STAGE
Western Digital Capital(5 Investments)
Qumulo, Kaminario, Panzura
1
Cisco Investments(4 Investments)
Cohesity, Nantero, Skyport Systems
2
Northern Light Venture Capital (2
Investments)
Qumulo, Crossbar
3
83North (2 Investments)
Actifio, Zerto
4
IVP (2 Investments)
Rubrik, Zerto
5
Tyche Partners (2 Investments)
Qumulo, Crossbar
6
Tiger Global Management(2 Investments)
Pure Storage, Actifio
7
Greenspring Associates (2 Investments)
Nutanix, SolidFire
8
Menlo Ventures
PernixData
9
Intel Capital
Coho Data
10

Enterprise Storage > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Enterprise Storage; Last 5 years (Nov 2013-Nov 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Techstars(2 Investments)
Boxbee, Infinit
1
Jerusalem Venture Partners
NooBaa
2
Magma Venture Partners
E8 Storage
3
500 Startups
Boxbee
4
Y Combinator
hypCloud
5
Startup Wise Guys
BitCalm
6
SK Telecom Americas Innopartners
BayStorage Technolgy
7
OTHER NOTABLE INVESTORS
Dell Technologies(6 Investments)
Nexenta, Elastifile, CNEX Labs
1
Goldman Sachs(3 Investments)
Infinidat, Qumulo, Nasuni
2
Credit Suisse(3 Investments)
IBRIX, Seagate, Commvault
3
Silver Lake(3 Investments)
Dell, Tintri, SMART Storage Systems
4
National Science Foundation(3
Investments)
NGD Systems, NxGn Data, Codelucida
5
Seagate(2 Investments)
Reduxio, X-IO
6
Morgan Stanley(2 Investments)
Nutanix, Cohesity
7
ABRT Venture Fund(2 Investments)
Acronis, Veeam
8
Hewlett Packard Enterprise(2
Investments)
Cohesity, Scality
9
Tech Coast Angels(2 Investments)
Enmotus, Codelucida
10
DEBT INVESTORS
Western Technology Investment(17
Investments)
Nexenta, Aristos Logic, Ciphermax
1
Hercules Capital(5 Investments)
Actifio, Druva, OCZ Storage Solutions
2
Kreos Capital(5 Investments)
Kaminario, Crocus Technology, Reduxio
3
Eastward Capital Partners(3 Investments)
SimpliVity, Nasuni, X-IO
4
Leader Ventures(3 Investments)
Kaminario, Nishan Systems, Mimosa Systems
5
TPG(2 Investments)
Infinidat, Seagate
6
Silicon Valley Bank(2 Investments)
Kaminario, NGD Systems
7
Capital Finance Group(2 Investments)
Zantaz, IBackup
8
Pinnacle Ventures
MonoSphere
9
Harbert Management
Scality
10

Enterprise Storage > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/8)

Enterprise Storage > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
54
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Data Center Infrastructure
Oct 2018
Enterprise Networking
Oct 2018
Database Technology
Sep 2018

FACTSHEET
Marketmap: Enterprise Storage
56
Enterprise Storage > Market Details > BlueBox

Key Sub Sectors (1/2)
57
Key Sub Sectors in Enterprise Storage
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Storage Media
Companies that design and manufacture data storage devices
Pure Storage (2009, Mountain View, Public)
144 91 $4.6B
Companies that provide products for storage architecture
BlueArc (1998, San Jose, Acquired)
Panasas (1999, Sunnyvale, $144M)
136 89 $2.8B
Backup
Companies that provide hardware or software products that enable backing up of data
COPAN Systems (2002, Longmont,
Acquired)
353 101 $2.2B
Companies that provide products for consolidation, centralization of IT resources, further
getting b....
Nutanix (2009, San Jose, Public)
37 26 $2B
Companies that provide data storage technologies which separate storage hardware from the
software t....
Atlantis Computing (2006, Mountain View,
Acquired)
43 31 $802M
Storage Management
Companies that provide management solutions that help organizing and maximize or improve
the perform....
DataGravity (2012, Nashua, Acquired)
ClearSky Data (2014, Boston, $67.2M)
61 40 $747M
Data Storage
Companies that provide products for addressing and manipulating data storage
Amplidata (2008, Lochristi, Acquired)
39 25 $486M
Companies that provide products for discovering, optimizing and automating the Elimination
of unnece....
TransferSoft (2014, Culver City, $3M)
4 3 $310M
Server-Side Caching
Companies that provide products for server side caching which involves the activity of
caching 'hot'....
PernixData (2012, San Jose, Acquired)
Infinio (2011, Cambridge, $24M)
10 9 $136M
Enterprise Storage > Market Details > Key Sub Sectors

Key Sub Sectors (2/2)
58
Key Sub Sectors in Enterprise Storage
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Suite
Companies that provide a suite of storage solutions to enterprises
Dell (1984, Round Rock, Acquired)
Infortrend (1993, Taipei)
5 4 $45.6M
Enterprise Storage > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/4)
59
Enterprise Storage > Market Details > Detailed Sector Taxonomy

60

61

62

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+5)
Storage Media > All Flash Arrays
Companies that provide flash array system that contains multiple flash memory drives instead of
spinning hard disk drives.
(Companies covered 29 | Funded 19 | Total Funding $1.5B)
$236M
(+$26.1M)
10
(+2)
Kaminario
(2008, Yokneam Illit, $243M)
2
(+1)
Companies that provide data storage technologies which separate storage hardware from the software
that manages the storage infrastructure.
(Companies covered 43 | Funded 31 | Total Funding $802M)
$143M
(-$129M)
11
(-3)
Scality
3
(-2)
Converged Infrastructure > Hyper-Converged Infrastructure
Companies that provide products for consolidation, centralization of IT resources by implementing
software-defined storage features
$445M
(+$49.8M)
5
(-5)
Cohesity
(2013, Santa Clara, $410M)
4
(-2)
Backup > Suite
Companies that provide backup products and services which include local, cloud based backup services
$227M
(-$176M)
6
(-3)
Rubrik
(2014, Palo Alto, $292M)
5
(-1)
Storage Media > Hybrid Storage
Companies that provide hybrid drives which are a combination of NAND based flash SSDs with hard
disk (HDD) technology.
$263M
(-$63.3M)
5
(-2)
Infinidat
(2011, Waltham, $325M)
6
(-1)
Backup > Cloud
Companies that provide products and services where data is backed up to a storage server or facility
connected to the source via the Internet
$114M
(-$112M)
9
(-)
Druva
7
(-)
Data Storage > Object Storage
Companies that provide products that offer object-based data storage
$136M
(+$89.3M)
8
(-)
Wasabi
(2015, Boston, $76.2M)
63
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Enterprise Storage in last 2 years (November 2016 - October 2018)
Enterprise Storage > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Enterprise Storage > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Storage Media > All Flash Arrays
Companies that provide flash array system that contains multiple flash memory drives instead of spinning
hard disk drives.
(Companies created 29 | Funded 19 | Total Funding $1.5B )
1 Vexata (2014, San Jose, $54M)
2
Storage Management
Companies that provide management solutions that help organizing and maximize or improve the
performance of the data storage resources
(Companies created 46 | Funded 32 | Total Funding $650M )
1 ClearSky Data (2014, Boston, $67.2M)
3
Data Storage > Object Storage
Companies that provide products that offer object-based data storage
(Companies created 23 | Funded 13 | Total Funding $267M )
1 Minio (2014, San Francisco, $23.3M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
65
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (November 2016 - October 2018)
Enterprise Storage > Market Details > Top Markets of Early Stage Investors

Incubators Jerusalem Venture Partners (#1)
Seed Valhalla Partners (#1), Novak Biddle Venture Partners (#1)
Series A/B
Lightspeed Venture Partners (#3), New Enterprise
Associates (#3)
Series C+ Samsung Venture Investment (#2), Silicon Valley Bank (#2)
Tintri Jun - 2017
IPO'd on NASDAQ
SolidFire Feb - 2016
Acq by NetApp for $870M
Pure Storage Oct - 2015
IPO'd on NYSE
Graphite Systems Sep - 2015
Acq by EMC
Skyera Dec - 2014
Acq by HGST
DSSD May - 2014
Acq by EMC
Whiptail Sep - 2013
Acq by Cisco for $415M
$25M - Series F
Kaminario (2008, Yokneam Illit,
$243M)
$17.3M - Series B
$10.6M - Series A
Burlywood (2015, Longmont, $13M)
$413k - Seed
$25M - Series B
$2M - Seed
Oct 2018
AccelStor Unveils the Next Step AFA Solution for
Virtualization at VMworld 2018, Business Wire
Oct 2018
Veeam Announces Integration with NetApp HCI, Storage
Review
Oct 2018
Sue Taylor Joins Pure Storage's Board of Directors, PR
Newswire
Oct 2018
WD composes Kaminario investment, Global Corporate
Venturing
Oct 2018
Pure Storage expands Australian presence with new
headquarters, ARN
Oct 2018
DDN makes ‘old’ appointment with Tintri co-founder
designated CTO, DataCenterNews
Oct 2018
Violin Goes to 'Extremes' in New-Gen Storage Performance,
eWEEK
Sep 2018 Pure Storage acquisition of StorReduce, Global Legal Chronicle
Sep 2018
MapD Teaming With Nvidia and Pure Storage,
StorageNewsletter
Sep 2018
Out with the data lake, in with the Data Hub, says Pure,
iTWire
Sep 2018
Burlywood Closes $10.6M in Series A Funding Round,
FinSMEs
Sep 2018
Pure Storage to showcase data-centric architecture
solutions, Intelligent CIO
Sep 2018
Mastering B2B service through predictive analytics and
shared architecture, SiliconAngle
Sep 2018
DataDirect Networks (DDN) Acquires Tintri to Add
Enterprise Virtualization Solutions to its Portfolio, ReadITQuik
News
11
7
15
19
29
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Storage Media > All Flash Arrays: Market Factsheet
66
Exits
Recent InvestmentsCompanies that provide flash
array system that contains
multiple flash memory drives
instead of spinning hard disk
drives.
Tintri
Pure Storage
Kaminario
(2008, Yokneam Illit, $243M)
SolidFire
(2010, Boulder, $150M)
ScaleFlux
(2014, San Jose, $57.3M)
Top Companies
#1 Top Markets of Investment Activity
Enterprise Storage > Market Details > Market: All Flash Arrays
Companies Created 29 | Funded 19 | Total Funding $1.5B
0
5
10
$0k
$200M
$400M
$600M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: All Flash Arrays

Storage Media > All Flash Arrays: Top Companies
Analyst’s Pick
Pure Storage (2009, Mountain View, $528M)
Firsthand Technology Value Fund, T. Rowe Price,
Sutter Hill Ventures and 12 Other Investors
Insight Venture Partners, New Enterprise
Associates, Menlo Ventures and 6 Other Investors
Western Digital Capital, Sequoia Capital, Pitango
Venture Capital and 12 Other Investors
Minicorn. Stage: Series B
Shunwei Capital, SVS Ventures, Westlake Venture
Analyst’s Pick
applications
Mayfield, Intel Capital, Lightspeed Venture
Partners, Redline Capital Management

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
68
Storage Media > All Flash Arrays: Leaderboard
Better than Market Average
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Kaminario 2008
Yokneam
Illit
Series F $243M 7 - - - - 2.8k - - 28 - - 2 -
4.8 Vexata 2014 San Jose Series B $54M 1 5 - - 3 2.7k - - 13 - - 750 39%
4.5 Pure Storage 2009
Mountain
View
Public $528M 10 - 5 - - 71k 7k 25 96 5 25% -432 -1%
4.3 Tintri 2008
Mountain
View
Acquired $260M 5 5 - - - 59k - - 68 - - -2196 -4%
4.2 ScaleFlux 2014 San Jose Series B $57.3M 4 5 - - - - - - 10 - - - -
3.7 XtremIO 2009 Herzliya Acquired $25M 3 - - - - - - - 6 - - - -
3.5 Burlywood 2015 Longmont Series A $13M 3 - - - 4 - - - 3 - - - -
3.4 Mangstor 2012 Austin Series B $26.3M 4 - - - - - - - 2 - - - -
3.3
NVXL
Technology
2015 Fremont Series A $20M 1 - - - - - - - 2 - - - -
3.2 Skyera 2010 San Jose Acquired $51.6M 2 - - - - 223 - - 4 - - -1536 -87%
3.1 Nimbus Data 2006
San
Francisco
Seed $2M 1 - - - - 5.2k - - 3 - - -437 -8%
3.0 Fabrik 2005 San Mateo Acquired $51.3M 4 - - - - - - - 1 - - - -
3.0 SolidFire 2010 Boulder Acquired $150M 5 - - - - 4 - - 5 - -
-
13294
-
100%
3.0 Whiptail 2008 Whippany Acquired $41M 3 - - - - - - - - - - - -

Incubators Jerusalem Venture Partners (#1)
Seed Menlo Ventures (#1), Khosla Ventures (#1)
Series A/B Lightspeed Venture Partners (#3), Battery Ventures (#3)
Series C+ Dell Technologies (#1), El Dorado Ventures (#1)
Atlantis Computing Jul - 2017
Acq by Hive-IO
Plexistor May - 2017
Acq by NetApp for $20M
Mpstor Oct - 2016
Acq by Sanmina for $40M
Sanbolic Jan - 2015
Acq by Citrix
Active Circle Aug - 2014
Acq by Oodrive
InktankProtected Tweets
Apr - 2014
Acq by Red Hat for $175M
ScaleIO Jun - 2013
Acq by EMC
Series B
HiveIO (2015, New York City)
Series B
$60M - Series E
$20M - Series D
Nexenta (2005, Santa Clara, $68.9M)
Series B
Series B
HiveIO (2015, New York City)
Nov 2018
Hyperscaling enterprise datacenters through logical
aggregation, ZDNet
Nov 2018 Maxta Inc. Launches MxIQ, ReadITQuik
Nov 2018
Maxta MxIQ Uses Analytics to Improve Storage Availability
Across Clouds, eWEEK
Nov 2018
Portworx Accelerates Kubernetes Adoption For Mission-
Critical Databases Running In Containers With New Heptio
And Amazic Partnerships, PR Newswire
Oct 2018 Excelero Announces NVMesh 2, Storage Review
Oct 2018
Exploring the benefits and challenges of hyperconverged and
software-defined storage, Cloud Tech News
Oct 2018
Elastifile Introduces ClearTier and Sets New Standard for
Cloud File Storage Cost Efficiency, CloudCow
Oct 2018
Quobyte Releases New Operator for Kubernetes; Enables
Storage Cluster Deployments in Five Minutes, Business Wire
Oct 2018 Data Storage Startup WekaIO Appoints New CTO, CTech
Sep 2018
Quobyte Unified Storage Capable of Handling Billions of Files
and Hundreds of Petabytes, StorageNewsletter
Sep 2018
DataON™ Announces Windows Server Hyper-Converged
Infrastructure Solutions for Microsoft SQL Server 2017,
PRWeb
Sep 2018
Portworx Launches OpenStorage SDK with Release of PX-
Enterprise 1.6, DEVOPSdigest
Sep 2018
Portworx adds data management capabilities to its container
storage product, SiliconAngle
News
7
6
25
31
43
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Software Defined Storage: Market Factsheet
69
Exits
Recent InvestmentsCompanies that provide data
storage technologies which
separate storage hardware from
the software that manages the
storage infrastructure.
Scality
Nexenta
(2005, Santa Clara, $68.9M)
Elastifile
Maxta
Datera
Top Companies
Enterprise Storage > Market Details > Market: Software Defined Storage
Companies Created 43 | Funded 31 | Total Funding $802M
0
5
10
15
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Market: Software Defined Storage

Software Defined Storage: Top Companies
Analyst’s Pick
Harbert Management, Hewlett Packard Enterprise,
Broad Tower Inc. and 12 Other Investors
Western Digital, Western Digital Capital, Qualcomm
Weka.IO (2014, Tel Aviv, $32M)
Software defined storage startup
Qualcomm Ventures, Gemini Israel Ventures,
Norwest Venture Partners, Walden Riverwood
Ventures
Portworx (2014, Redwood City, $28.5M)
Tool for developers and IT Ops to run containerized
apps in on-premise or in the cloud
Sapphire Ventures, GE Ventures, Mayfield
Analyst’s Pick
Hedvig (2012, San Francisco, $12.5M)
Modern software-defined storage for rapidly
changing data, apps, and users
Minicorn. Stage: Series A
Atlantic Bridge Capital, True Ventures, Redpoint
Ventures
CloudByte (2010, Bangalore, $6.1M)
Storage solution for Cloud Service Providers
Nexus Venture Partners, Kae Capital, Eight Roads
Ventures, EVO Venture Partners

71
Software Defined Storage: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Scality 2010
San
Francisco
Series E $152M 7 - - - - 7.8k - - 39 - - 32 -
4.9 Portworx 2014
Redwood
City
Series B $28.5M 2 5 - - - 1.5k - - 17 - - 533 60%
4.3 SoftIron 2012 London Series A $7M 1 - - - 4 608 - - 5 - - 245 67%
4.0 Excelero 2014 Santa Clara Series B $35M 3 5 - - - - - - 14 - - - -
3.9 Nexenta 2005 Santa Clara Series D $68.9M 6 - - - - 6.9k - - 14 - - -144 -2%
3.9 Maxta 2009 Sunnyvale Series B $45M 3 - - - - 2k - - 14 - - -20 -1%
3.8 Elastifile 2013 Herzliya Series B $65M 4 - - - - - - - 19 - - - -
3.7 Datera 2013
Mountain
View
Series B $40M 3 - - - - - - - 13 - - - -
3.7 Quobyte 2014 Berlin Series A - 1 - - - - 339 - - 11 - - 32 10%
3.7 StorPool 2011 Sofia Series A $250k 2 - - - - 391 - - 6 - - 21 6%
3.6 DataCore 1998 Lauderdale Series C $30M 1 - - - 4 11k - - 16 - - -500 -4%
3.6
Virtual
Power
Systems
2012 Santa Clara Series A $18.8M 5 - - - - - - - 10 - - - -
3.6 Weka.IO 2014 Tel Aviv Series B $32M 1 4 - - - - - - 21 - - - -
3.5 HTBase 2012 Toronto Seed - 1 - - - - 131 - - 3 - - 30 30%

Incubators
Seed Charles River Ventures (#1), Clear Ventures (#1)
Series A/B Lightspeed Venture Partners (#1), Accel Partners (#1)
Series C+ Cisco Investments (#3), Northgate Capital (#2)
Skyport Systems Jan - 2018
Acq by Cisco
Springpath Sep - 2017
Acq by Cisco for $320M
SimpliVity Jan - 2017
Acq by Hewlett Packard Enterprise for
$650M
$21.2M - Series F
Scale Computing (2006, Indianapolis,
$90.2M)
$17M - Series B
$250M - Series D
$67.2M - Series G
$90M - Series C
$21.1M - Series E
$6.5M - Series E
Series C
Springpath (2012, Sunnyvale, $34M)
$30M - Series C
Skyport Systems (2013, Mountain
View, $67M)
Nov 2018
Scale Computing Honored with 2018 CRN® Tech Innovator
Award, PRWeb
Nov 2018
Pivot3's Ron Nash On Beating Nutanix, IoT And Hyper-
Converged Momentum, CRN
Nov 2018
Compuverde Enhances Storage Performance with Updated
vNAS Offering, PR Newswire
Nov 2018
Suncorp NZ deploys Nutanix to support virtual desktop
flexibility, Reseller
Nov 2018 Nutanix Introduces Updates for Beam, ReadITQuik
Nov 2018
Nutanix takes its multicloud manager to the on-premises
data center, SiliconAngle
Oct 2018
Scale Computing Raises $34.8 Million in Strategic Funding to
Capitalize on Momentum in Edge Computing, Business Wire
Oct 2018 MSP Rolls Out Nutanix Managed Services, ChannelE2E
Oct 2018
Pivot3 brings intelligent hybrid cloud solutions to GCC,
Tahawul Tech
Oct 2018
Lenovo, Scale partner for hyperconverged edge servers,
Network World
Oct 2018
Lenovo, Scale Computing launch jointly developed edge
platform, DatacenterDynamics
Oct 2018
Detroit Symphony Orchestra Chooses Scale Computing's HC3
Platform, CloudCow
Oct 2018
Lenovo hopes to open up HCI with new SAP and Nutanix
partnership, DataCenterNews
Oct 2018
Juniper and Nutanix extend partnership with new
integrations, Seeking Alpha
News
4
7
8
9
11
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Converged Infrastructure > Hyper-Converged Infrastructure: Market Factsheet
72
ExitsMost Active Investors
Recent InvestmentsCompanies that provide products
for consolidation, centralization of
IT resources by implementing
software-defined storage features
Nutanix
(2009, San Jose, $340M)
Cohesity
(2013, Santa Clara, $410M)
SimpliVity
(2009, Westborough, $276M)
Pivot3
(2003, Austin, $230M)
Scale Computing
(2006, Indianapolis, $90.2M)
Top Companies
Enterprise Storage > Market Details > Market: Hyper-Converged Infrastructure
0
5
10
$0k
$500M
$1.B
2014 2015 2016 2017 2018
Market: Hyper-Converged Infrastructure

Converged Infrastructure > Hyper-Converged Infrastructure: Top Companies
Analyst’s Pick
analytics
Hewlett Packard Enterprise and 14 Other Investors
Goldman Sachs, Riverwood Capital, Morgan Stanley
Optimized IT Infrastructure Platform
Charles River Ventures, Meritech Capital Partners,
Accel Partners and 7 Other Investors
Soonicorn. Stage: Series G
S3 Ventures, InterWest Partners, Mesirow Financial
Analyst’s Pick
Scale Computing (2006, Indianapolis, $90.2M)
Hyperconverged infrastructure systems
Minicorn. Stage: Series F
ABS Capital, Allos Ventures, Benchmark Capital and
11 Other Investors
Skyport Systems (2013, Mountain View, $67M)
Computing infrastructure for enterprise
applications
GV, Thomvest Ventures, Northgate Capital and 5
Other Investors
Provides high performance operating
infrastructures for Big data technologies.
USAA, Hasso Plattner Ventures, Clear Ventures and
5 Other Investors
Acromove (2001, Los Angeles)
Provider of portable NAS system
Editor's Pick. Stage: Funded
Odyssey Venture Partners
Analyst’s Pick
RAID (1994, Andover)
Provider of high-performance computing storage
solution
Editor's Pick. Stage: Unfunded

74
Converged Infrastructure > Hyper-Converged Infrastructure: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Cohesity 2013 Santa Clara Series D $410M 4 4 - - - 7.1k - - 72 - - 2.9k 69%
4.4
Robin
Systems
2013 Milpitas Series B $39M 3 5 - - - 1.7k - - 17 - - 2 -
3.9 Nutanix 2009 San Jose Public $340M 9 3 5 - - 81k 3k 41 173 1 3% 6.6k 9%
3.7 SimpliVity 2009
Westborou
gh
Acquired $276M 7 5 - - - - - - 10 - - - -
3.5 Pivot3 2003 Austin Series G $230M 12 - - - - - - - 39 - - - -
3.5
Scale
Computing
2006
Indianapoli
s
Series F $90.2M 11 4 - - - 3.5k - - 46 - - -45 -1%
3.2
Skyport
Systems
2013
Mountain
View
Acquired $67M 3 4 - - 4 - - - 5 - - - -
3.0 Springpath 2012 Sunnyvale Acquired $34M 3 - - - - 752 - - 7 - - -30 -4%
1.5 RAID 1994 Andover Unfunded - - 4 - - 4 416 - - - - - 119 40%
1.1 Acromove 2001 Los Angeles Funded - - 5 - - 4 27 - - 2 - - - -
0.0 Compuverde 2000 Karlskrona Unfunded - - - - - - 413 - - 8 - - -11 -3%

Enterprise Storage > Market Details > Market: Suite
Market: Suite

Market: Suite

Enterprise Storage > Market Details > Market: Hybrid Storage
Market: Hybrid Storage

Enterprise Storage > Market Details > Market: Cloud
Market: Cloud

Market: Cloud

Enterprise Storage > Market Details > Market: Object Storage
Market: Object Storage

Enterprise Storage > Market Details > Market: Converged Infrastructure
Market: Converged Infrastructure

Enterprise Storage > Market Details > Market: SSD
Market: SSD

Market: SSD

Enterprise Storage > Market Details > Market: Storage Management
Market: Storage Management

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
96
Notable Acquisitions
Top Acquirers

Public companies (1/6)
98
Performance indicators of public companies in Enterprise Storage
IPO Date Company
IPO
Mcap
Exchange
Ticker
Jun 2017
Tintri (2008, Mountain View)
$216M NASDAQ:TNTR
Sep 2016
Nutanix (2009, San Jose)
$2.2B NASDAQ:NTNX
Oct 2015
Adesto (2007, Sunnyvale)
$73.9M NASDAQ:IOTS
Oct 2015
Pure Storage (2009, Mountain View)
$425M NYSE:PSTG
Mar 2015
DataDepositBox (2002, Toronto)
CNSX:DDB
Dec 2013
Nimble Storage (2007, San Jose)
$1.5B NYSE:NMBL
Sep 2012
Quantum (1980, San Jose)
NYSE:QTM
Mar 2012
Innodisk (2005, Taipei)
Industrial embedded flash and DRAM storage peripherals
TPE:5289
Aug 2011
Carbonite (2005, Boston)
Hybrid Backup and recovery for consumers and small business
$240M CARB
Jun 2011
Fusion-io (2006, Salt Lake City)
Flash Storage via PCIe
$1.5B NYSE:FIO
Enterprise Storage > Exit Outlook > Public Companies

99
IPO Date Company
IPO
Mcap
Exchange
Ticker
Nov 2010
Thecus (2004, Taipei)
NAS, DAS and Network video recorder solutions
4978
Sep 2010
4DS Memory (2007, Fremont)
Interface switching ReRAM
$7.6M ASX:4DS
Apr 2010
OCZ Storage Solutions (2002, San Jose)
Solid State Drives
OCZ
Jun 2009
LeoNovus (2009, Sunnyvale)
Data storage and security solution provider
$547k CVE:LTV
Nov 2007
3PAR (1999, Fremont)
Disk arrays and storage management software
NYSE:PAR
Oct 2007
Compellent Technologies (2002, Eden Prairie)
Enterprise Network Storage
$401M NYSE:CML
Jun 2007
Data Domain (2001, Santa Clara)
Backup, recovery and deduplication
$777M NASDAQ:DDUP
Mar 2007
GSI Technology (1995, Cupertino)
Manufacturer of high-performance memory product
NASDAQ:GSIT
Dec 2006
Isilon (2001, Seattle)
Scale-out Network Attached Storage (NAS)
$786M NASDAQ:ISLN
Sep 2006
Commvault (1996, Middletown)
Enterprise Backup Software and appliance
$604M NASDAQ:CVLT

100
IPO Date Company
IPO
Mcap
Exchange
Ticker
Jan 2003
Technicolor (1915, Moulineaux)
Media Conglomerate providing production and distribution services
OTCMKTS:TCLRY
Dec 2002
Seagate (1979, Scotts Valley)
NAS storage devices for enterprise
$5.1B NASDAQ:STX
Aug 2001
FalconStor (2000, Melville)
Data Migration and Disaster Recovery
NASDAQ:FALC
Aug 2000
McData (1982, Broomfield)
SAN switching solutions
$3B NASDAQ:MCDT
Mar 2000
OTG Software (1997, Hopkinton)
Data Management solutions
$484M NASDAQ:OTGS
Oct 1999
Crossroads (1996, Austin)
Data storage and protection solutions
$461M NASDAQ:CRDS
Oct 1999
Smart Disk (1994, Fort Myers)
External storage drives, portable Flash and hard disk-based drives
$202M NASDAQ:SMDK
Jul 1999
Gadzoox Networks (1996, San Jose)
Fibre channel switching technology for Storage Area Networks (SAN)
$516M NASDAQ:ZOOX
May 1999
Taiyo Yuden (1977, Tokyo)
Electronic components and optical media solutions
TYO:6976
Sep 1997
Dot Hill (1984, Longmont)
SAN storage arrays and software
$198M NYSE:BXH

101
IPO Date Company
IPO
Mcap
Exchange
Ticker
Jul 1997
Corsair (1994, Fremont)
DRAM and SSDs
$199M NASDAQ:CAIR
Jul 1997
Iron Mountain (1951, Boston)
Online Backup and data protection services
$281M NYSE:PLH
Feb 1997
Overland Storage (1980, San Jose)
Data storage management
NASDAQ:OVRL
Nov 1995
Enterprise information management and storage solutions
NASDAQ:NTAP
Nov 1995
Supplier of flash memory cards
NASDAQ:SNDK
Jun 1995
Princo Corp. (1983, Hsinchu)
Tool coating, optical storage and SiP chip manufacturer
TWE:8053
Jun 1988
Dell (1984, Round Rock)
Enterprise solutions and consumer elecctronics company
DELL
Apr 1986
EMC (1979, Hopkinton)
RSA ECAT | Endpoint Threat Detection and Response | EMC
NYSE:EMC
Mar 1981
Microsemi (1959, Aliso Viejo)
IC and semiconductor developer for multiple applications
NASDAQ:MSCC

Key Markets Driving Growth in Enterprise Storage

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Key Markets Driving Growth in Enterprise Storage