Nutanix Lands Monster $101M Financing Round
Datacenter storage upstart Nutanix announced today that they had secured a $101-million dollar Series D financing round from Riverwood Capital and SAP Ventures. The deal values Nutanix at approximately $1 Billion. Nutanix points out that their $100 million in lifetime sales and 70 percent repeat purchase rate help explain the billion-dollar valuation.
This investment brings Nutanix’ total funding to $172.2 million in four rounds of funding. Nutanix says they will use the new funding to accelerate its global growth, boost R&D investments, expand its sales, marketing and support teams.
Rapid Growth & Funds for Scaling
“Adoption of web-scale computing, and Nutanix’s Virtual Computing Platform in particular, has grown explosively over the last two years, yet we’ve only scratched the surface of this $100 billion hybrid computing market,” said Dheeraj Pandey, CEO of Nutanix. “The additional support from such a high-quality investor group leaves us uniquely positioned to capitalize on the opportunity and build one of the elite companies of this decade.”
According to Nutanix, “More than 50 percent of Nutanix customers purchase again after only six months and nearly 70 percent purchase additional units within 12 months,” said Ken Long, vice president of accounting at Nutanix. This is a sign that their radical message of consolidation in datacenter layers is making some headway.
Interview: In-Depth with Nutanix
I interviewed Nutanix VP Steve Kaplan and Evangelist Mattias Sundling at VMworld Europe 2013 a few months back, and the interviews provide some interesting background on how the solution works and are well worth watching: