|TPG and Goldman Sachs Lead Infinidat's New Funding Round
|Waltham, Mass.| June 11, 2020
Funding round will enable Infinidat to accelerate customer-centric growth plans led by new management structure
Infinidat, the market's leading provider of multi-petabyte data storage solutions, today announced it has secured an additional investment round from its existing investors - TPG Growth, Goldman Sachs, Claridge Israel, ION Crossover Partners and Moshe Yanai, founder of Infinidat - reinforcing its investors' commitment to the company. The company also announced enhancements to its leadership team with the appointment of Boaz Chalamish, as its Executive Chairman.
The funding will be used to build on new initiatives, such as the increasing demand for flexible consumption models in the market, strengthening the company's growth plans and enabling it to build further on its industry leadership position. It will also be used for technical research and product development.
"There is a growing urgency for enterprise IT organisations, and managed service providers, to remain competitive by exceeding service levels, whilst efficiently managing costs and complexities within storage environments," said Tim Millikin, partner at TPG Growth. "We are proud to continue our partnership with Infinidat and welcome Boaz to the leadership team. With the addition of his deep sector experience and the completion of a strong funding round, Infinidat is poised to meet the rapidly changing needs of their customer base and position themselves as the go-to provider of agile storage technologies."
The Infinidat team, spanning generations of storage industry experience and previous product successes, has become an industry leader by developing a better, faster way to store and protect multiple petabytes of data, with the highest possible availability, at the lowest possible cost.
"The continued confidence and commitment our investor community shows for our vision, strategy and ongoing ability to execute is a testament to our team's work in building world-class, robust data storage solutions," said Infinidat Co-CEOs, Kariel Sandler and Nir Simon. "We are excited to work with Boaz to execute our customer-oriented strategy providing advanced customer support and delivering future-proofed data management systems. We want to ensure end-users have the best customer experience, maintain top level system performance, whilst guaranteeing the highest levels of system availability in an increasingly data focused economy."
The company's data storage solutions are designed to manage even the most demanding workloads and the customer endorsements of its technical capabilities are extensive. The company has shipped over 6EB worldwide with 1EB shipped in the last six months, maintaining a high standing with customers. Infinidat was named a leader in the 2019 Gartner Magic Quadrant for Primary Storage and continues to generate positive ratings and reviews on Gartner Peer Insights.*
In January 2020, Infinidat was recognised as Gartner Peer Insights Customers' Choice for Primary Storage and was previously named a Gartner Peer Insights Customers' Choice for General-Purpose Disk Arrays vendor in February 2019.
Capitalising on the company's momentum, Infinidat recently bolstered its management team with the addition of Boaz Chalamish, a well-recognised industry veteran who joined Infinidat on 8 June, as Executive Chairman.
"Today, customers are increasingly demanding cost-effective agile data storage solutions with a no-compromise approach on performance, reliability and scalability," Chalamish said. "I'm especially excited to embark on this new journey with Infinidat, as I believe they can address these end-user demands in the most innovative way in the industry. I look forward to supporting the company in its next phase of sustained profitable growth."
Chalamish has over 30 years of extensive experience in senior leadership positions, notably VMware, Hewlett-Packard, Mercury and most recently, he was CEO at Clarizen. He has led large-scale enterprises with continued year-on-year growth as well as fostering new revenue streams.
Infinidat has also announced a series of promotions within its executive management team - Catherine Vlaeminck is promoted to VP Worldwide Marketing; Dan Shprung becomes EVP, EMEA and APJ; Steve Sullivan is now EVP, Americas.
*Gartner Peer Insights Customers' Choice constitutes the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of nor constitute an endorsement by, Gartner or its affiliates.
Founded in 2011 by storage industry pioneer Moshe Yanai, Infinidat helps customers empower data-driven competitive advantage at multi-petabyte scale with over 6EB shipped worldwide to date. Infinidat's software-focused architecture, an evolution and revolution in data management design over 30 years in the making, solves the conflicting requirements of bigger, faster, less expensive storage. Infinidat technology simultaneously delivers sub-millisecond latency, seven nines of reliability, 100% availability and hyperscale capacity with a significantly lower total cost of ownership than incumbent storage technologies.
For more information, visit www.infinidat.com