Nimble Storage Receives $40.7M in Mezzanine Financing

Nimble Storage, a San Jose, CA-based provider of flash-optimized, hybrid storage solutions, has received a $40.7m mezzanine financing.

The round was led by Sequoia Capital and Accel Partners, with participation from existing investors including Lightspeed Venture Partners and new investor GGV Capital.

The company intends to use the capital to expand its operations, with emphasis on sales, engineering and international market development (European and Asia Pacific regions.).

Founded by former Data Domain and NetApp executives Varun Mehta and Umesh Maheshwari, and led by Suresh Vasudevan, CEO, Nimble Storage has developed hybrid storage solutions. Its CS-Series arrays enable fast inline data compression, intelligent data optimization leveraging flash memory and high-capacity disk, instant optimized backups, and WAN-efficient replication.
In August, the company expanded its product portfolio with the introduction of the extreme-performance CS-400 Series of arrays and a new scale-to-fit architecture that provides customers a cost-effective storage migration path as their organizations grow.
Customers include Grocery Outlet, City of Cupertino, First Choice Health, Plaxo, Berkeley Research Group, San Mateo Credit Union, Premier Medical, Northrim Bank, San Diego Convention Center, Vision Critical, Imagine Learning and Graniterock, among others.



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