Tegile Closes $33 Million to Continue Growth in All-Flash Sales and Further Accelerate Expansion
NEWARK, Calif. – April 11, 2017 – Tegile Systems, the leading provider of flash-driven storage arrays for databases, virtualized server and virtual desktop environments, today announced $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 center. 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 organized 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 center.
“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 centers. 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 center.”
“As an early partner and investor in the company, we’ve always been extremely impressed with Tegile’s ability to bring disruptive innovation to the enterprise flash storage market, all while operating on a strong business model of sustainable growth,” said Jerry Kagele, Executive Vice President of Sales at Western Digital. “Their recent growth numbers speak for themselves. Enterprise storage is one of the most competitive markets, and for the past seven years, Tegile has made impressive traction, prompting us to invest in their success and deepen our relationship in joint technology and product development.”
With this financing, Tegile has raised a total of $178 million to date. For more information on Tegile, visit www.tegile.com or email email@example.com.
About Tegile Systems
Tegile Systems is pioneering a new generation of flash-driven enterprise storage arrays that balance performance, capacity, features and price for virtualization, file services and database applications. With Tegile’s line of all-flash and hybrid storage arrays, the company is redefining the traditional approach to storage by providing a family of arrays that accelerate business critical enterprise applications and allow customers to significantly consolidate mixed workloads in virtualized environments.
Tegile’s patented IntelliFlash™ technology accelerates performance and enables inline deduplication and compression of data so each array has a usable capacity far greater than its raw capacity. Tegile’s award-winning solutions enable customers to better address the requirements of server virtualization, virtual desktop integration and database integration than any other offerings. Featuring both NAS and SAN connectivity, Tegile arrays are easy-to-use, fully redundant and highly scalable. They come complete with built-in snapshot, remote-replication, near-instant recovery, onsite or offsite failover, and VM-aware features. Additional information is available at www.tegile.com. Follow Tegile on Twitter @tegile.