DataGravity Closes $50 Million Series C Round

DataGravity, Inc., creator of data-aware storage platform, has raised $50 million in a series C investment round led by Silicon Valley venture capital firm Accel Partners.

Previous investors Andreessen Horowitz, Charles River Ventures (CRV) also provided strong support in the round.

The company will use this investment to accelerate product development, expand upon its go-to-market strategy a support customers’ technology and service needs in their pursuit of data insights that propel business forward.

The series C round brings total investments in DataGravity to $92 million.
 
The funding comes at the end of a capstone year in which DataGravity launched its data-aware storage platform, the Discovery Series. DataGravity was built on the belief that storage should do more than just store data. The Discovery Series, introduced in August and shipped in October 2014, combines primary storage, data protection, data governance, and search and discovery into an integrated appliance that makes businesses more successful by uncovering data insights that were previously inaccessible. Customers can better understand their data and streamline data management, reduce business risk and increase user productivity.
 
“The DataGravity vision of the direction ‘storage’ should be going is very compelling and exciting. It is grounded in deep technical innovation – businesses that deploy this technology will gain a competitive advantage,” said Ping Li, venture capitalist, Accel Partners. “Speaking with DataGravity channel partners and customers crystallized the value DataGravity will bring to businesses. I look forward to working with the team as it makes storage data-aware for more organizations.”
 
Li, who joins the DataGravity board of directors, has experience investing in enterprise technologies. He leads the Accel big data fund, and he has been involved in helping to build multiple successful companies in this space.

Other DataGravity board members include Peter Levine, partner, Andreessen Horowitz; David Orfao, MD, General Catalyst Partners; and, Bruce Sachs, general partner, CRV.
 
“Accel has strong expertise in helping to build world class storage, big data and security companies, with a focus on customer success. This makes them the ideal partner for DataGravity. We’re excited to have Ping and Accel Partners joining our mission,” said Paula Long, CEO, DataGravity. “The enthusiastic support we have received from customers, partners, analysts and investors underscores the deep need in the market for data-aware storage that delivers a competitive business advantage.”