Storage Company SolidFire Racks Up $31M in Series C

SolidFire, a maker of storage systems for cloud providers, announced today it has raised $31 million in Series C financing. Samsung Ventures led the round and was joined by existing investors New Enterprise Associates, Valhalla Partners and Novak Biddle Venture Partners. The Boulder, Colo.-based company has now raised $68 million in total funding. The company has also raised funding from individual investors, including Frank Slootman, former C.E.O. of Data Domain; David Schneider, former vice president of worldwide sales at Data Domain; and Greg Papadopoulos, former CTO of Sun Microsystems and now a partner at NEA.

PRESS RELEASE

SolidFire Delivers Largest and Fastest All-SSD Storage System to Market, Locks in additional $31 Million in Funding Lead by Samsung

New Product and Funding Supports Growing Enterprise and Service Provider Demand

BOULDER, Colo.- July 25, 2013 – SolidFire, the leader in all-SSD storage systems designed for large scale cloud infrastructure, today unveiled the SF9010, which is now the largest and fastest all-SSD storage platform available on the market. In addition, SolidFire revealed $31M in series C financing led by Samsung Ventures.

Storage Technology That Tops the Industry, Costs Less Than Disk
The SF9010 is the third addition to the SolidFire product line and supports SolidFire’s leadership in delivering all-flash scale-out storage systems designed for large scale public and private cloud infrastructures. At full scale (100 nodes) the SF9010 is the largest and fastest all-SSD storage platform on the market today delivering 3.4PB of effective capacity and 7.5 million IOPS.  With the delivery of the SF9010, SolidFire also marks the milestone transition of all-flash storage infrastructure moving below the cost of traditional performance disk solutions. Customers building storage infrastructure from 60TB to 3.4PB can now do so below $3/GB and below $1/IOP.

Along with the SF9010, SolidFire also released SolidFire Element OS Version 5, which adds VMware VAAI and VASA support, full encryption-at-rest without performance impact, and more detailed per-volume and per-tenant performance reporting.

“The SF9010 really highlights SolidFire’s storage architecture in action,” said SolidFire Founder and CEO, Dave Wright. “The system is incredibly flexible and is designed to consume the latest flash technology available.  This enables us, and our customers, to keep pace with the rapid advances in the flash market and take advantage of falling cost and rising density. The SF9010 takes us across the threshold of flash becoming lower than the cost of performance disk.”

“The recent announcement of Colt Technology Services’ deployment of SolidFire behind their top four shared storage service offerings speaks to service provider demand for tiering storage performance and delivering Quality of Service (QoS) in the cloud,” said Philbert Shih, Managing Director at Structure Research. “The ability to guarantee performance to thousands of volumes within a shared storage infrastructure is a tough problem to solve and SolidFire’s technology enables that. Colt challenged more than 20 different vendors to the task and concluded only SolidFire was able to accomplish this task.”

Samsung Ventures Places Money on SolidFire For The Win
Samsung Ventures lead SolidFire’s $31 Million C Round financing, and brings SolidFire’s funding total to $68 million. Joining Samsung Ventures in the round were existing investors NEA, Valhalla Partners, and Novak Biddle Venture Partners. The funding will support SolidFire’s expansion of sales and marketing resources world-wide as they respond  to growing enterprise and service provider demand. The SF9010 leverages Samsung’s latest 960GB MLC datacenter-class drives.

“We feel that SolidFire is uniquely positioned to take advantage of the rapid growth in both public and private cloud computing markets,”  said Jay Chong, Senior Director at Samsung Ventures. “They have demonstrated clear technological leadership with their patent pending QoS capabilities, and true scale-out architecture.  And their strong customer traction puts them in the right position as the cloud computing market matures.”

“Samsung Ventures’ investment and partnership will have a significant impact on our business,” commented Wright. “Their worldwide relationships and leadership in flash memory will allow us to expand our reach much further and faster than before.”

How and Where to Buy
The SF9010 is sold direct and will be available for order September 1, 2013.

About SolidFire
SolidFire is the market leader in high-performance data storage systems designed for large-scale public and private cloud infrastructure. Leveraging an all-flash scale-out architecture with patented volume-level quality of service (QoS) control, providers can now guarantee storage performance to thousands of applications within a shared infrastructure.  In-line data reduction techniques along with system-wide automation are fueling new block-storage services, and advancing the way the world uses the cloud.
Learn more: www.solidfire.com  | www.twitter.com/solidfireinc  | www.facebook.com/solidfire

About Samsung Ventures Investment Corporation (SVIC)
SVIC was established in 1999 as the venture arm of Samsung with the mission to be the gateway for open innovation by establishing partnerships with venture capital and start-up companies. SVIC has over one billion dollars under management and targets investments not only in Samsung’s traditional IT business, such as semiconductors and displays, but also in cleantech and other emerging areas. Besides the Seoul Headquarters, SVIC has offices in Silicon Valley, Europe, Israel and Japan.

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