Today Tegile Systems announced that it has been able to raise an additional $33 million in funding. This latest round of funding brings the total raised to $178 million for the company. This round of funding was led by Western Digital Corp and additional investors include Meritech Capital, Capricorn Investment Group, and Cross Creek Capital. The newly raises funds will be invested in technology development and product innovation, and to expand worldwide market reach.
Today Tegile Systems announced that it has been able to raise an additional $33 million in funding. This latest round of funding brings the total raised to $178 million for the company. This round of funding was led by Western Digital Corp and additional investors include Meritech Capital, Capricorn Investment Group, and Cross Creek Capital. The newly raises funds will be invested in technology development and product innovation, and to expand worldwide market reach.
Flash storage has been making a big splash in the industry for some time. With its low power consumption, high performance, and recently, its ultra-high density, it is an attractive choice, especially for data centers. Over the last year, the price has dropped and the density has increased and flash has been more widely adopted in data centers globally. With the growth and adoption rates for flash being so high at the moment, it puts companies like Tegile in a terrific spot. Tegile has been outpacing the overall flash market and stands to benefit to all-flash adoption in the data center.
Last year Tegile announced two new products built around its patented IntelliFlash software architecture and multi-tier flash technology. Tegile announced its multi-tier flash platform, IntelliFlash HD and its all-flash rack-scale platform, IntelliFlash Cloud Platform. IntelliFlash HD is ideal for large data warehouses, analytic applications, big data processing, image processing, and large private clouds and is aimed at Fortune 1000 enterprise companies. IntelliFlash Cloud Platform provides scale out abilities both horizontally and vertically by stitching together multiple controllers.
With fresh new capitol, it will be interesting to see what new innovations Tegile rolls out this year and in the coming years.
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