Nirvanix Raises $25 Million for Cloud Storage

Cloud storage specialist Nirvanix, Inc. has raised more than $25 million in a Series C funding round led by Khosla Ventures, the companies said today. Current Nirvanix investors Valhalla Partners, Intel Capital, Mission Ventures and Windward Ventures also participated in the round.

Nirvanix plans to use the money to expand its engineering organization, offer new cloud storage services, and increase its global footprint across sales and marketing. The new investment brings Nirvanix’s total capital raised to $70 million.

Nirvanix provides cloud storage services focused on enterprises with massive amounts of large unstructured content files, and offers usage-based pricing across public, hybrid and private cloud storage deployments. Customers include Cerner Corporation, IBM, USC Digital Repository, National Geographic and Relativity Media.

“We look to bet on fundamental technology shifts that create big markets, and with Nirvanix we see two of these fundamental shifts occurring together: cloud and data,” said David Weiden, General Partner, Khosla Ventures. “The advantages of cloud computing are becoming more clear all the time, and it is inevitable that storage will also move to this architecture. Data, particularly unstructured data, is exploding in volume and ways to leverage it. Nirvanix’s momentum with top tier enterprise customers speaks for itself, and we look forward to helping them accelerate their lead.”

“Our enterprise cloud storage focus has clearly resonated with customers, as demonstrated by the fact that we booked more revenue in Q1 of 2012 than nearly all of 2011,” said Scott Genereux, President and CEO of Nirvanix. “Additionally, over the past year Nirvanix has secured more petabytes under management than the prior three years combined; deployed the largest private clouds in the world; and made significant market advances in the financial services, healthcare and media and entertainment sectors. Going forward we expect our growth trajectory to increase as we deliver new functionality for our battle-hardened enterprise services and expand our reach to customers across the globe—further demonstrating the broad applicability of our cloud technology.”