$125 Million for Qumulo in Financial Funding

Qumulo, Inc. announced $125 million in series E funding, at a valuation of more than $1.2 billion.

With the close of this round, led by BlackRock Private Equity Partners, the company’s total funding will grow to $351 million. The financing includes participation from Highland Capital Partners, Madrona Venture Group, Kleiner Perkins, and new investors including Amity Ventures.

The new funding will be used to accelerate innovation and scale across the globe. 
 
“This latest investment is a great recognition of our category leadership and unique capabilities to help customers create, manage and gain value from their file data at scale. It will help Qumulo accelerate our ability to serve the world’s leading enterprises with the freedom, control and performance that organizations need now more than ever,” said Bill Richter, CEO. “We see rapidly increasing demand driven from content creators spanning artists creating Hollywood blockbusters, to researchers solving global pandemics, to engineers putting rockets into space. Qumulo today is trusted to manage more than 150 billion mission-critical files that are at the core of innovation and progress.”

The largest organizations are marching toward a digital transformation, but the ability to digitize workflows for creating movies, finding vaccines and cures, and enabling AI and IoT applications with large scale file data is yet to be unleashed. The company is at the intersection of two mega trends impacting IT, the digitalization of world and the advent of cloud computing. 
 
Customers like the Institute for Health Metrics and Evaluation (IHME), rely on the firm’s file data platform to help researchers combat global disease. It turned to Qumulo to manage petabytes of health research data with a platform providing the scalability and operational visibility necessary to conduct and store life-saving research. With Qumulo, IHME can provide this research to policymakers and healthcare institutions to empower them with the evidence they need to make informed decisions, ultimately saving lives.
 
Vendor’s file data platform is defining a new category in enterprise data management, providing customers a solution for managing and accessing file data to create new services and applications. Alongside this shift that is driving customers toward the cloud for content, the company has continued to innovate to serve enterprises such as Shell, Hyundai, Capsilon (part of Ellie Mae), Progenity, Vexcel and Cinesite.
 
“We continue to be impressed by Qumulo’s ability to innovate, execute and accelerate its business to meet some of the world’s toughest enterprise requirements,” said Samir Menon, director, BlackRock Private Equity Partners. “Qumulo’s disruptive model has defined an entirely new category that tackles the formidable challenge of creating and managing digital content at a scale and performance that is only getting bigger. We are thrilled to be part of this global effort that continues to accelerate in progress, innovation, and results.“

The start-up will use this investment to fuel its global market expansion; strategic partnerships and accelerate innovation of its platform to democratize file data management in multi-cloud environments.