San Jose-based Cohesity has closed an oversubscribed $250M Sequence D funding spherical led by SoftBank’s Imaginative and prescient Fund, bringing its whole raised so far to $410M. The enterprise software program firm presents a hyperconverged knowledge platform for storing and managing all of the secondary knowledge created exterior of manufacturing apps.
In a press launch immediately it notes that is solely the second time SoftBank’s gigantic Imaginative and prescient Fund has invested in an enterprise software program firm. The fund, which is nearly $100BN in measurement — with out factoring in all of the deliberate sequels, additionally led an funding in enterprise messaging firm Slack again in September 2017 (additionally a $250M spherical).
“Cohesity pioneered hyperconverged secondary storage as a primary stepping stone on the trail to a a lot bigger transformation of enterprise infrastructure spanning private and non-private clouds. We imagine that Cohesity’s web-scale Google-like method, cloud-native structure, and unbelievable simplicity is altering the enterprise of IT in a basic method,” stated Deep Nishar, senior managing associate at SoftBank Funding Advisers, in a supporting assertion.
Additionally taking part within the financing are Cohesity’s current strategic traders Cisco Investments, Hewlett Packard Enterprise (HPE), and Morgan Stanley Enlargement Capital, together with early investor Sequoia Capital and others.
The corporate says the funding might be put in direction of “large-scale world growth” by promoting extra enterprises on the claimed value and operational financial savings from consolidating a number of separate level options onto its hyperconverged platform. On the shopper acquisition entrance it flags up help from its strategic traders, Cisco and HPE, to assist it attain extra enterprises.
Cohesity says it’s onboarded greater than 200 new enterprise clients within the final two quarters — together with Air Bud Leisure, AutoNation, BC Oil and Fuel Fee, Bungie, Harris Teeter, Hyatt, Kelly Companies, LendingClub, Piedmont Healthcare, Schneider Electrical, the San Francisco Giants, TCF Financial institution, the U.S. Division of Vitality, the U.S. Air Power, and WestLotto — and says annual revenues grew 600% between 2016 and 2017.
In one other supporting assertion, CEO and founder Mohit Aron, added: “My imaginative and prescient has all the time been to offer enterprises with cloud-like simplicity for his or her many fragmented purposes and knowledge — backup, take a look at and growth, analytics, and extra.
“Cohesity has constructed important momentum and market share over the past 12 months and we’re simply getting began.”