Qumulo Announces $125 Million Financing at More Than $1.2 Billion Valuation
Investment Accelerates Qumulo’s Vision for Creating and Managing Digital Content Across Clouds
Qumulo, the leading file data platform that helps organizations easily create and manage their file data at scale with unrivaled freedom, control and real-time visibility, announced $125 million in Series E funding, at a valuation of more than $1.2B. With the close of this round, led by BlackRock, the company’s total funding will grow to $351 million. The financing includes strong 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.
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“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 of Qumulo. “We see rapidly increasing demand driven from content creators which span 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 world’s largest organizations are marching toward a digital transformation, but the ability to digitize the workflows needed to create movies, discover vaccines and cures, and enable AI and IoT applications with large scale file data, is yet to be unleashed. Qumulo is at the intersection of two mega trends impacting IT: the digitalization of our world and the advent of cloud computing.
Customers such as the Institute for Health Metrics and Evaluation (IHME), rely on the Qumulo file data platform to help researchers combat global disease. IHME turned to Qumulo to manage petabytes of health research data. The Qumulo platform provides the scalability and operational visibility necessary to conduct and store life-saving research. With Qumulo, IHME can provide this vital research to policymakers and healthcare institutions to empower them with the evidence they need to make informed decisions, ultimately saving lives.
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Qumulo’s disruptive file data platform is defining a new category in enterprise data management, providing its customers the most advanced solution available in the market for managing and accessing file data to create new services and applications. Alongside this paradigm shift that is driving customers toward the cloud for content, Qumulo has continued to innovate to serve the world’s leading 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 in 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. This investment allows our clients to benefit from the technologic trends driving increasing digitization and cloud-based collaboration across the business landscape.”
Qumulo will use this investment to fuel its global market expansion, strategic partnerships and to accelerate innovation of its platform to democratize file data management in multi-cloud environments.
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