|Infinidat Announces $150 Million Investment Led by TPG, Eclipses $1B Valuation|
New funding to fuel global expansion and enable company to meet customer demand for next-generation enterprise-class storage products
Needham, MA – April 29, 2015 –Infinidat, a leading provider of advanced enterprise-class storage solutions, today announced a $150 million investment led by TPG Growth, the growth equity platform of global investment firm TPG. This second round of funding brings the company’s total funding to $230 million, and the Company’s post funding valuation to $1.2 billion. TPG will join Infinidat’s board of directors. Terms of the transaction were not disclosed.
Moshe Yanai, Infinidat CEO, founded the Company in 2011 to create solutions for the most pressing information storage problems facing today’s enterprises. Yanai is a prolific entrepreneur and storage industry pioneer with a track record of developing winning storage architectures, including industry standard storage products that Infinidat challenges.
“Infinidat is on the verge of revolutionizing the enterprise storage market with a dramatically simpler, more cost-effective storage solution offering unparalleled performance, capacity, and reliability,” said Yanai. “The Infinibox storage solution has already been customer-proven and is in production in multiple Fortune 500 companies around the world.”
The explosion of data is dramatically increasing the cost, scale and operational complexity of most storage systems today and is forcing businesses to make trade-offs between what data they keep on line, the level of data protection they employ, and how much they are willing to spend on equipment, data center space, power consumption, and personnel.
“TPG has a long history of investing in enterprise IT, and we think Infinidat is one of the most exciting companies in the industry,” said John Marren from TPG. “Infinidat has already proven the power and resiliency of its technology in numerous customer engagements, and we are confident this Company will become a game-changing force in the enterprise storage market.”
“Enterprise storage is a very exciting area of investment right now,” said Tim Millikin, also of TPG. “There are many fast-growing companies that are providing incremental advancements to existing technologies, and then there is a much more rare set of companies that are developing fundamentally new storage architectures for the next generation data center. Infinidat is one of the true innovators in the space that will change the way data is stored in the future.”
“Infinidat boasts a team of data storage industry experts who bring a wealth of enterprise-level experience to the table,” said Arun Taneja, founder and consulting analyst at Taneja Group. “It’s no surprise that the Infinibox storage solution offers such a rich feature set, delivering tremendous capacity, availability and performance.”
For more information on Infinidat and its next-generation enterprise storage products, visit Infinidat.com.
TPG is a leading global private investment firm founded in 1992 with over $67 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo. TPG Growth is the middle market and growth equity investment platform of TPG with more than $7 billion in assets under management and committed capital. TPG Growth targets investments in a broad range of industries and geographies, with a significant focus on the U.S. and large, emerging markets such as China, India, Brazil and Southeast Asia. With the deep sector knowledge, operational resources and global experience to drive value creation, TPG Growth helps companies reach their full potential. TPG and TPG Growth have invested in many well-known technology and software businesses including Uber, Airbnb, Box, Domo, Lynda.com, Lenovo, MEMC, Seagate Technology, SunGard, Freescale, Aptina, Advent Software, Eze Software Group, SurveyMonkey and SucessFactors, among others. For more information visit www.tpg.com.