PernixData Closes $35M In Series C Funding For Its Disruptive Server Side Storage Technology

On Wednesday, PernixData announced the finalization of $35M in Series C funding in a round led by Menlo Ventures. The Series C funding raise also included the participation of individual investors in the form of Marc Benioff, CEO of Salesforce.com, Jim Davidson, Managing Director at Silver Lake and Steve Luczo, CEO of Seagate Technology. PernixData’s revolutionary server-side flash storage technology allows customers to scale their storage infrastructure without adding hardware-based storage capacity. PernixData FVP delivers software-based scale-out storage capability based on the aggregation of RAM or flash for any virtualized application. PernixData’s disruptive scale-out technology enables IT administrators to decouple storage capacity from its underlying hardware infrastructure toward the end of scaling storage capacity without intrusive additions to storage hardware.

The announcement of PernixData’s Series C funding comes hot on the heels of the company’s July 31 news of quarter over quarter revenue growth of 42% in its first full fiscal year. To date, PernixData claims over 200 paying customers for its FVP product in more than 20 countries. With an extra $35M in the bank, PernixData lies poised to consolidate its impressive early traction in the use of serve side flash to improve storage scalability and performance. Expect PernixData to continue leading the revolution in the decoupling of storage capacity from hardware-based storage capacity as its flagship FVP product expands its market penetration and continues its maturation in collaboration with customer feedback. Existing investors Kleiner Perkins Caulfield and Byers, Lightspeed Ventures, Lane Bess, Mark Leslie and John Thompson also participated in today’s Series C round, which brings the total capital raised by PernixData to $62M.

PernixData Enhances Its Software Solution To Improve Storage Performance

Today, PernixData announces enhancements to PernixData FVP, its software-based storage solution for enabling dramatic improvements in the scale-out storage capability of IT infrastructures without the addition of hardware-based storage resources. In its initial rollout, PernixData FVP used hypervisor software to aggregate server side flash to create a “scale-out data tier for the acceleration of primary storage.” The aggregation of server side flash creates a clustered acceleration tier that enables improvements in application latency and storage performance. The clustered acceleration tier empowers application administrators to optimize application performance without changing the workflows or raw storage capacity of the infrastructure in which the application is deployed. Installed into the hypervisor kernel within minutes, PernixData FVP enables the scale-out of the storage capacity of a specific IT infrastructure without the hassle and expense of adding additional storage capacity to ameliorate storage performance issues.

As a result of today’s announcement, PernixData FVP can accelerate any virtualized application by aggregating both RAM and/or flash. The hypervisor’s ability to create an acceleration tier based on RAM and flash expands the number of use cases in which the PernixData solution can be deployed by extending the solution to a more diverse range of IT environments and budgets. Moreover, the solution can now be deployed with file, block or direct attached storage, thereby ensuring its ability to integrate into a wide range of storage environments and infrastructures. Satyam Vaghani, CTO and co-founder of PernixData, remarked on the significance of the product’s enhancements as follows:

Storage is at an amazing inflection point where performance is being extricated from capacity to optimize application behavior and cost effectively scale IOPS, without disrupting years of investment in shared storage infrastructure. By making FVP easy to deploy in any environment, and robust enough to accelerate any virtualized application using flash or RAM, PernixData is making decoupled storage architectures the de facto standard in virtual data centers.

Vaghani comments on the PernixData FVP’s ease of deployment in almost any environment and ability to decouple storage capacity from hardware-based storage capacity. As such, the solution represents a non-disruptive approach to scale-out storage via a disruptive technology that stands to transform the economics and operationalization of storage and application lifecycle management. Today’s announcement also extends the solution’s ability to support existing replication and disaster recovery processes by allowing administrators to define which host machines take part in replication groups. Customers can designate sets of host machines for replication, thereby enabling fault tolerance amongst the machines within the replication group. Overall, today’s announcement points to a significant advancement in FVP’s ability to integrate with more diverse set of storage environments and position the technology strongly for greater adoption in the industry. PernixData has signed over 100 customers since its general availability announcement in August 2013 and appears poised to rapidly expand further given FVP’s newly released ability to support almost any server and storage configuration.