Server Virtualization Firm Announces Major Funding Round
Increasing performance, whether it be from employees or servers, is something nearly every company strives for on a daily basis.
Unfortunately, increasing performance can be costly. Whether companies hire new employees or purchase new hardware there is often a hefty price tag attached to better performance. However, now there is a company that can help others increase their server performance with a single piece of software.
PernixData has announced the closing of a Series C funding round in which they welcomed the reception of $35 million as well as disclosed a 42 percent quarter-over-quarter revenue growth over their first full fiscal year.
The young company (founded in 2012) has claimed its stake in the technology market through its primary product PernixData FVP. With this software, companies are able to virtualize (to break a physical server into multiple virtual servers without changing any hardware) server flash and RAM in order to increase performance without having to increase storage capacity.
“PernixData has experienced an absolutely amazing year with groundbreaking product features, 160 percent growth in worldwide headcount, extensive industry accolades, top tier funding, and revenues that were 50 percent higher than any other enterprise software company during its first year of sales, handily beating the previous record in this space,” said Poojan Kumar, CEO and co-founder of PernixData.
The round was led by Menlo Ventures and also included participation from previous investors Lightspeed Ventures and Lane Bess among others.