IT Appliance Startup SimpliVity Raises $58M to Expand Staff, Sales
SimpliVity, a Westborough, MA-based seller of IT appliances, has raised a $58 million Series C round to expand hiring and further compete with giants in the data storage and processing market, including EMC.
SimpliVity’s business is built around a device called the OmniCube, which is pitched as an all-in-one box that replaces several other pieces of hodgepodge IT infrastructure.
The company says one core feature is the OmniCube’s ability to eliminate duplicate data and compress the resulting files “once and forever,” making the resulting system much more efficient (and cheaper).
The company doesn’t disclose its sales figures, but Kempel told Forbes that he expects SimpliVity’s staff to triple and its revenue to grow fivefold in 2014.
The fundraising announced today pushes SimpliVity’s total venture backing to about $101 million over its lifespan, making it one of the bigger tech-sector startup bets in the Boston region. Its last investment was a $25 million Series B round in September 2012.
The new investment was co-led by the growth-stage funds of Kleiner Perkins Caufield and Byers (a returning investor) and Draper Fisher Jurvetson, with several other investors also buying shares.