New funding boosts Pure Storage valuation to US$3b

Pure Storage has raised another US$225 million, which it hopes will provide continued support for the company's international business plans.

Flash enterprise storage array company, Pure Storage, has raised US$225 million, bringing the company valuation to an estimated US$3 billion and total capital raised to US$470 million to date.

This funding round, known as Series F, saw contributions from previous public market investors, including T. Rowe Price Associations and Tiger Global, as well as new investors, such as Wellington Management Company. The round also included participation from prior venture capital investors Greylock Partners, Index Ventures, Redpoint Ventures, and Sutter Hill Ventures.

Pure Storage CEO Scott Dietzen said the new funding will help provide continued support for the company's plans to expand its business internationally through increased investments in engineering, sales, marketing, and channel partners to deliver its Pure Storage FlashArray.

"With our top-quality investors and partners, Pure is well positioned for long-term independence and ultimately to lead the ferociously competitive storage market as we leave the mechanical legacy behind," he said.

Last month, Pure Storage announced it achieved a 700 percent year-over-year growth in 2013 and grew its customer base year-over-year by 650 percent.

Pure Storage VP of products Matt Kixmoeller attributed the company's exponential growth to the aggressive adoption of flash that is starting to take off in the enterprise sector.

"Virtualisation and flash go hand in hand, and Australia is one of the most aggressive countries to quickly adopt virtualisation," he said.

"So for all the reason they adopted virtualisation, we believe flash adoption will adopt very quickly in the Australian market because as businesses move to being 100 percent virtualised datacentres, they need the power of flash to virtualise the final tier of applications."

To further service the demand for enterprise flash, the company recently announced its new enterprise storage business model, called Forever Flash .

Pure Storage also appointed ex-IO and EMC executive Kevin Delane as vice president of global alliances and business development to lead the company in developing key strategic channel and technology partnerships.