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August 6, 2015

Tintri raises $125m for VM-aware storage adoption

Reports suggest that the company is targeting an IPO in 2016.

By CBR Staff Writer

Storage startup Tintri has raised an additional $125m in a new round of funding, bringing its total capital raised to $260m.

Tintri provides flash-based storage products for virtualised and cloud environments.

The latest Series F round was led by Silver Lake Kraftwerk along with Tintri’s existing investors Insight Venture Partners, Lightspeed Ventures, Menlo Ventures, and NEA.

Tintri plans to use the funding to speed up the worldwide adoption of VM-aware storage (VAS).

Tintri chairman and CEO Ken Klein said: "The storage industry is going through a dramatic transformation. Virtualization and cloud are forces for change — and conventional DAS, NAS and SAN storage is struggling to keep pace.

"That’s why our message of VM-aware storage (VAS) is winning in the marketplace. This funding fuels our mission — we’ll be growing our global footprint and raising visibility of the business benefits of storage built specifically for virtualized enterprises."

Tintri experienced triple-digit year-over-year growth. It is trusted with more than 400,000 virtual machines, storing 50 petabytes of user data.

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Several reports suggest that Tintri is targeting an initial public offering in 2016. Even though the company did not disclose its valuation, it told VentureWire in 2014 that its valuation was under $1bn.

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