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    Riiid Labs appoints Marten Roorda, former CEO of testing organization ACT as Executive in Residence

    Riiid Labs appoints Marten Roorda, former CEO of testing organization ACT as Executive in Residence

    FirmaChain DTT Alliance

    Blockchain-based e-contract startup FirmaChain announces partnership with ‘DTT Alliance’

    Looxid Labs to Unveil Cognitive Care Solution ‘LUCY’ at Facebook Accelerator Seoul Demo Day

    Looxid Labs to Unveil Cognitive Care Solution ‘LUCY’ at Facebook Accelerator Seoul Demo Day

    Edtech startup Probo launches Probo Connect robotics curriculum in China and South East Asia

    Edtech startup Probo launches Probo Connect robotics curriculum in China and South East Asia

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      Riiid Labs appoints Marten Roorda, former CEO of testing organization ACT as Executive in Residence

      Riiid Labs appoints Marten Roorda, former CEO of testing organization ACT as Executive in Residence

      FirmaChain DTT Alliance

      Blockchain-based e-contract startup FirmaChain announces partnership with ‘DTT Alliance’

      Looxid Labs to Unveil Cognitive Care Solution ‘LUCY’ at Facebook Accelerator Seoul Demo Day

      Looxid Labs to Unveil Cognitive Care Solution ‘LUCY’ at Facebook Accelerator Seoul Demo Day

      Edtech startup Probo launches Probo Connect robotics curriculum in China and South East Asia

      Edtech startup Probo launches Probo Connect robotics curriculum in China and South East Asia

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      Home Software

      Amid Global Pandemic, Data Management Firm Cohesity Raises $250m

       457 total views,  1 views today

      USTechTimes Editor by USTechTimes Editor
      April 13, 2020
      Cohesity
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      Cohesity, a US data storage and enterprise software company with office in Singapore, announced raising $250 million in a Series E funding round that brings the company’s total value at $2.5 billion, more than double the valuation 21 months ago.

      In a statement, the company said its latest funding round was led by DFJ Growth, Foundation Capital, Greenspring Associates, and Wing Venture Capital. Existing investors Sequoia Capital and SoftBank Vision Fund 1 and strategic investors Hewlett Packard Enterprises and Cisco Investments also participated in the fundraising activity.

      Based in California, Cohesity provides services to help businesses store, manage, and protect their data. In 2018, the Vision Fund led a $250-million investment into the company at a valuation of more than $1 billion.

      The vast majority of enterprise data — backups, archives, file shares, object stores, and data used for dev/test and analytics — sits in fragmented infrastructure silos that make it hard to protect, expensive to manage, and difficult to analyze. Cohesity consolidates silos onto one web-scale platform to allow organizations to run apps on that platform — making it easier than ever to back up and extract insights from data.

      The successful fundraising is not common at a time when global uncertainty grips the overall tech investment space. Mohit Aron, CEO and founder of Cohesity, said the funding round is a testament to the “the promise that investors see in the company”.

      “More enterprises globally are abandoning legacy offerings in favour of our modern, software-defined approach to data management that is incredibly simple to use – critical during these challenging times as customers are looking to reduce total cost of ownership while enabling remote IT teams,” Aron added.

      The company will use the fresh funding to advance research and development – building new capabilities to serve some of the largest enterprises in the world, according to the announcement.

      Additionally, Cohesity will also continue to broaden its reach and awareness both domestically and internationally, while extending its relationships with alliances and partners.

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      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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