SolidFire raises $31 million for cloud storage

The U.S. company makes flash memory storage devices for cloud-minded datacenters.


SolidFire, a Colorado-based maker of data storage hardware, announced yesterday that it raised $31 million in venture capital.

The Series C funding brings the four-year-old company's total raised to $68 million. Samsung Ventures, NEA, Valhalla Partners and Novak Biddle Ventures Partners participated.

Of interest is the company's flash memory storage devices, which are used in datacenters focused on cloud computing applications. The company's proprietary technology promises to speed up the retrieval of data from shared servers, and positions it nicely as more enterprises replace on-premise tech with as-a-service applications.

Unsurprisingly, the startup's new flagship product, the SF9010, has a 960-gigabyte Samsung solid-state drive inside. At about $3 per gigabyte, the company argues that the SSD is finally cheaper than hard disk. "Customers building storage infrastructure from 60TB to 3.4PB can now do so below $3/GB and below $1/IOPS," it says.

That's key for Samsung, a huge global player in flash memory. SolidFire said it hopes to leverage Samsung's relationships to scale sales, and plans to use the additional funds to expand its sales and marketing teams.