Cohesity Raises $250 Million In Series E Funding

by Adam Armstrong April 9, 2020

written by Adam Armstrong April 9, 2020

Today Cohesity announced that it has raised an additional $250 million through series E funding. The latest funding round was led by DFJ Growth, Foundation Capital, Greenspring Associates, and Wing Venture Capital. DFJ Growth and Greenspring Associates are new investors as are Baillie Gifford and Sozo Ventures. With the $250 million, Cohesity’s total haul comes to $650 million and the company states it is now valued at $2.5 billion, twice the value of two years ago.

Cohesity funding

Headquartered in Silicon Valley, Cohesity claimed to be the industry’s first data management company with a secondary storage platform for consolidating user data across backup, test/dev, file services, and in-place analytics, onto an infinitely scalable, intelligent data platform. Cohesity was founded in 2013 by Mohit Aron, the current CEO, who also founded Nutanix. Their flagship product is their Cohesity Hyperconverged Data Platform. Since then the company has been off and running expanding as they go.

Accomplishments since the last round of funding include:

150 percent increase in recurring revenue, emphasizing the success of the company’s subscription-based software model.
100 percent increase in customers as well as data under management.
135 percent increase in the number of Cohesity’s new and existing customers that have licensed the company’s cloud capabilities.

Cohesity intends to take the new funding and invest in R&D with a focus on building new capabilities aimed at some of the largest enterprises out there. The company plans on increasing its reach with the new funds as well.

Cohesity

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