Tegile Systems announces $33 million in additional funding - with strong business growth and increased interest in all-flash storage deployments, the funding was led by Western Digital Corp and current investors such as Meritech Capital, Capricorn Investment Group, and Cross Creek Capital. The company will use the new funds to invest further in technology development and product innovation, and to expand worldwide market reach.
According to Gartner, the solid state array (SSA) market will reach $10.4 billion by 2020 and account for 52 percent of the external storage market. With an all-flash revenue growth rate of 110 percent year over year, Tegile is already outpacing the market and is in a prime position for solid growth fulfilling its mission of helping companies transition to an all-flash data centre. New and expanded customers include CMG Financial, United Center, and AT&T.
Product innovation is driving the company’s business growth. In 2016, Tegile launched IntelliFlash HD, the industry’s first multi-tier flash platform, and introduced IntelliFlash Cloud Platform, which harnesses the performance of NVMe SSDs and the economics of high density flash to cost-effectively build a private cloud. At the core of every Tegile solution is the company’s patented IntelliFlash™ software architecture and multi-tier flash technology, where data is organised and placed on the most appropriate media to deliver memory class performance and balanced economics to enable enterprises to migrate to an all-flash data centre.
“The storage market is rapidly being reshaped as the battle continues between incumbents that struggle to innovate and startups that have brought tremendous innovation to data centres. In this highly-competitive and turbulent market, Tegile has always been focused on two main goals: disruptive all-flash technology and sustainable growth,” said Rohit Kshetrapal, CEO of Tegile. “This new investment in Tegile will allow us to continue on this path, all while helping enterprises and businesses of all sizes around the world transition to an all-flash data centre.”