Tracxn - Enterprise Security Startup Landscape

FEBRUARY 2018
ENTERPRISE STORAGE

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Enterprise Storage - Feb 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on February 9, 2018.
Enterprise Storage Feed Summary
4
Enterprise Storage > Feed Summary
Products and services designed to assist large organizations for saving and retrieving digital information
• Inclusions: Hardware and Software-based storage
solutions enabling storage functionality such as backup,
storage management, file system etc.Sample business
models : NAS, Hybrid Storage, Storage Management,
Converged Infrastructure
• Exclusions: Cloud storage providers such as Dropbox
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$13.7B
Funding
84
Mega
Companies
405770
FundedCovered on
Tracxn
9
Unicorns
14
Soonicorns
1
Minicorns
30
IPO’d Cos
272
Late Stage Cos
128
103
Acquisitions
30
DeadPooled
92
Acquihired
Series A+ Cos
Tintri
(2008, Mountain View, Public)
Pure Storage
(2009, Mountain View, Public)
Nutanix
(2009, San Jose, Public)
Top Companies

62
40
53
40
26
15
2012 2013 2014 2015 2016 2017
Y-o-Y # of Companies Founded
$974M
$1.3B
$1.5B
$1.4B
$866M
$1.1B
2012 2013 2014 2015 2016 2017
$ Funding # Rounds
Investment Trend Summary
Summary of Funding Activity in Enterprise Storage
5
$187M - PE
StorageCraft (2003, Draper, $187M)
$75M - Series F
Kaminario (2008, Yokneam Illit, $218M)
$180M - Series D
Rubrik (2014, Palo Alto, $292M)
$67.2M - Series G
Pivot3 (2003, Austin, $230M)
$95M - Series C
Infinidat (2011, Waltham, $325M)
$61M - Series C
$90M - Series C
Cohesity (2013, Santa Clara, $160M)
$55M - Series C
Datrium (2012, Sunnyvale, $110M)
$80M - Series F
Druva (2008, Pune, $200M)
$54M - Series B
Vexata (2014, San Jose, $54M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
Enterprise Storage > Feed Summary > Investment Trend Summary
Seed Accel Partners (#1), Almaz Capital (#1), Altair Capital (#1)
Series A/B
Intel Capital (#9), Lightspeed Venture Partners (#7), Battery
Ventures (#5)
Series C+
Western Digital Capital (#4), Meritech Capital Partners (#3),
83North (#2)
Incubators
Jerusalem Venture Partners (#3) 500 Startups (#2) Magma
Venture Partners (#2)
Other Notable
Investors
Dell Technologies(#5), Silver Lake (#4), Credit Suisse (#3)
Debt Investors
Western Technology Investment (#17), Hercules Capital (#5),
Kreos Capital (#5)
Most Active InvestorsRecent Investments
88 74 72 57 42 48
$11.4B
$749M
$312M
$212M
$174M
US
Israel
Europe
India
Canada
$ Funding

Summary of exit outlook in Enterprise Storage
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Lightspeed Venture
Partners
8
Nutanix (2009, San Jose, $340M)
Sequoia Capital 6
Virident Systems (2006, Milpitas, $116M)
Nimble Storage (2007, San Jose, $90.5M)
New Enterprise
Associates
6
Tintri (2008, Mountain View, $260M)
SolidFire (2010, Boulder, $150M)
Mayfield 6
Mimosa Systems (2003, Santa Clara, $55.4M)
SanDisk (1988, Milpitas)
Accel Partners 5
SimpliVity (2009, Westborough, $276M)
Jun 2016 EMC Acq by Dell for $67.0B
Jan 2016 Veritas Acq by The Carlyle Group for $7.4B
Dec 2015 Inotera memories Acq by Micron for $4.0B
Oct 2015 SanDisk Acq by Western Digital for $16.0B
Dec 2010 Isilon Acq by EMC for $2.3B
Sep 2010 3PAR Acq by Hewlett-Packard for $2.4B
Jul 2009 Data Domain Acq by EMC for $2.4B
Enterprise Storage > Feed Summary > Exit Outlook Summary
Dell EMC 10
Data Domain (Jul 2009, $2.4B), Isilon (Dec 2010, $2.2B), Legato
(Oct 2003, $1.3B)
Dell 6
EMC (Jun 2016, $67B), Equallogic (Nov 2007, $1.4B),
Compellent Technologies (Dec 2010, $820M)
Cisco 5
NuSpeed Internet Systems (Jul 2000, $450M), Whiptail (Sep
2013, $415M), Springpath (Sep 2017, $320M)
Hewlett-Packard 5
3PAR (Sep 2010, $2.4B), Lefthand Networks (Dec 2008,
$360M), AppIQ (Sep 2005, $280M)
Western Digital 4
SanDisk (Oct 2015, $16B), Virident Systems (Sep 2013,
$685M), HGST (Mar 2012, $480M)
Recent IPOs Top Acquisitions
DataDepositBox Mar 2015
Continous Backup and recovery platform
IPO MCap: - Current MCap: -
Violin Memory Sep 2013
High Speed flash storage
IPO MCap: - Current MCap: $736M
Quantum Sep 2012
Hybrid Storage | Backup & Recovery
Innodisk Mar 2012
Industrial embedded flash and DRAM storag…
Tintri Jun 2017
Smart storage for virtualization & cloud
Nutanix Sep 2016
Converged Compute and storage infrastruct…
IPO MCap: - Current MCap: $2.2B
Adesto Oct 2015
Low power CBRAM for IoT, health
IPO MCap: - Current MCap: $73.9M
Pure Storage Oct 2015
All-flash Enterprise Storage

Marketmap: Enterprise Storage
Most Active Investors
Seed Accel Partners (1)
Early Stage Intel Capital (9)
Late Stage Western Digital Capital (4)
Corporate Dell Technologies (5)
Incubators Jerusalem VP (3)
FACTSHEET
Top Cities
Bay Area 37 Cos $6.3B
Waltham 6 Cos $524M
Feed in Numbers
Unicorns 9 Soonicorns 14
Minicorns 1 Editor Picks 25
Acquihired 92 Deadpooled 30
Top Companies
Nutanix (2009, San Jose, IPO)
Tintri (2008, Mountain View, IPO)
Pure Storage (2009, Mountain View, IPO)
Violin Memory (2005, Mountain View, IPO)
Exits
IPOs 30 Nutanix, Violin Memory
Acquisitions 103 EMC, SanDIsk
Top Acquirers EMC, Dell, Cisco
STORAGE ARCHITECTURE
NAS
SAN
CONVERGED
INFRASTRUCTURE
STORAGE MEDIA
HYBRID STORAGE
ALL FLASH ARRAYS
NON-VOLATILE RAM
SOLID STATE DRIVE
HARD DISK DRIVE
BACKUP
STORAGE MANAGEMENT
MANAGEMENT
CLOUD
LOCAL
DATA STORAGE
SOFTWARE-DEFINED
STORAGE*
SOFTWARE
OBJECT STORAGE
FILE SYSTEM
* Denotes Upcoming Business Models in Enterprise Storage market
Overview
Companies 770
Funded 405 Series A+ 272
Funding $13.7B Last 2 yrs $2.0B
SUITE
7
Enterprise Storage > Feed Summary > BlueBox
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies

Key Sub Sectors in Enterprise Storage Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Backup >
Cloud 166 $187M 11
Software Defined Storage 44 $186M 13
Converged Infrastructure 28 $202M 7
Backup >
Suite 39 $276M 6
Storage Media >
Hybrid Storage 25 $280M 5
Storage Media >
All Flash Arrays 29 $163M 6
Data Storage >
Object Storage 21 $52.2M 10
Storage Media >
SSD 35 $20M 5
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Storage Media
Companies that design and manufacture data storage
devices
136 88 $4.9B
Storage Architecture
Companies that provide products for storage
architecture
126 87 $3.1B
Backup
Companies that provide hardware or software
products that enable backing up of data
316 97 $2.1B
Companies that provide products for consolidation,
centralization of IT resources, further...
32 23 $1.3B
Software Defined Storage
Companies that provide data storage technologies
which separate storage hardware from...
44 32 $776M
Storage Management
Companies that provide management solutions that
help organizing and maximize or improve...
54 36 $732M
Data Storage
Companies that provide products for addressing and
manipulating data storage
38 24 $415M
Enterprise Storage > Feed Summary > Summary of Key Markets

List of Notable Companies in Enterprise Storage
Notable Companies in the Sector (1/2)
9
Note: *(Founded Year, Location, Total Funding)
Enterprise Storage > Feed Summary > Notable Companies in the Sector
Public
Seagate
(1979, Scotts Valley)*
Nutanix
(2009, San Jose, $340M)
Violin Memory
(2005, Mountain View, $268M)
Commvault
(1996, Middletown)
Crossroads
(1996, Austin, $36.1M)
Pure Storage
Iron Mountain
(1951, Boston)
Carbonite
(2005, Boston, $66M)
Tintri
Adesto
(2007, Sunnyvale, $72.7M)
Public
4DS Memory
(2007, Fremont)
LeoNovus
(2009, Sunnyvale)
OCZ Storage Solutions
(2002, San Jose, $69M)
Overland Storage
(1980, San Jose, $51.1M)
Imation
(1996, Oakdale, $14.9M)
Dropsuite
(2012, Singapore, $5M)
IceWEB
(1994, Sterling, $4M)
Quantum
(1980, San Jose)
DataDepositBox
(2002, Toronto)
Dell
(1984, Round Rock)
Public
FalconStor
(2000, Melville)
GSI Technology
(1995, Cupertino)
Hitachi Data Systems
(1989, Santa Clara)
Innodisk
(2005, Taipei)
Metrofile
(1983, Johannesburg)
NetApp
(1992, Sunnyvale)
Princo Corp.
(1983, Hsinchu)
Taiyo Yuden
(1977, Tokyo)
Technicolor
(1915, Moulineaux)
Western Digital
(1970, Irvine)
Acquired
Dell EMC
(1979, Hopkinton)
SanDisk
(1988, Milpitas)
Veritas
(1989, Mountain View, $18.6M)
Inotera memories
(2003, Taoyuan City)
Data Domain
(2001, Santa Clara)
3PAR
(1999, Fremont)
Isilon
(2001, Seattle, $59.9M)
Equallogic
(2001, Nashua, $47M)
QLogic
(1994, Aliso Viejo)
Legato
(1988, Mountain View)
Acquired
Numonyx
(2008, Rolle, $150M)
Fusion-io
(2006, Salt Lake City, $112M)
Nimble Storage
(2007, San Jose, $90.5M)
SolidFire
(2010, Boulder, $150M)
Compellent
Technologies
(2002, Eden Prairie, $29.3M)
McData
(1982, Broomfield)
Dot Hill
(1984, Longmont, $8.8M)
Virident Systems
(2006, Milpitas, $116M)
SimpliVity
(2009, Westborough, $276M)
Giganet
(1994, Worcester, $41M)

List of Notable Companies in Enterprise Storage
Notable Companies in the Sector (2/2)
10
Enterprise Storage > Feed Summary > Notable Companies in the Sector
Acquired
Corsair Memory
(1994, Fremont, $75M)
HGST
(2003, San Jose)
Anobit
(2006, Herzliya, $72M)
SandForce
(2006, Fremont, $46M)
NuSpeed Internet
Systems
(2000, Maple Grove)
XtremIO
Whiptail
(2008, Whippany, $41M)
OTG Software
(1997, Hopkinton)
Zantaz
(1996, Pleasanton, $94M)
Xyratex
(2009, Havant)
Acquired
Lefthand Networks
(1999, Boulder, $50.5M)
ConvergeNet
Technologies
(1997, San Jose, $30M)
Pliant Technology
(2006, Milpitas, $50.3M)
Springpath
(2012, Sunnyvale, $34M)
SMART Storage Systems
(2008, Newark)
CrosStor Software
(1990, South Plainfield)
AppIQ
(2001, Burlington, $20M)
SGI
(1980, Fremont)
Pathlight Technology
(1995, Ithaca)
Iomega
(1980, San Diego)
Acquired
ScaleIO
(2011, Haifa, $12M)
InktankProtected
Tweets
(2012, Los Angeles, $14.4M)
Avamar
(1999, Irvine, $40.3M)
Storwize
(2004, Los Gatos, $30.9M)
Gluster
(2005, Sunnyvale, $12.5M)
Nexsan
(1999, Thousand Oaks, $17M)
Archivas
(2004, Waltham, $12M)
Onaro
(2002, Boston, $10M)
Connected
(1996, Boston, $23.5M)
Mimosa Systems
(2003, Santa Clara, $55.4M)
Unicorns
Infinidat
(2011, Waltham, $325M)
Rubrik
(2014, Palo Alto, $292M)
Actifio
(2009, Waltham, $208M)
Datto
(2007, Norwalk, $100M)

List of Notable Companies by Market in Enterprise Storage
Notable Companies by Market (1/11)
12
Enterprise Storage > Feed Summary > Notable Companies by Market
Suite
Suite
Dell (1984, Round Rock)
Enterprise solutions and consumer elecctronics
company
Stage: Public
Silver Lake, Adams Capital Management,
CampVentures
EMC(1979, Hopkinton)
RSA ECAT | Endpoint Threat Detection and
Response | EMC
Stage: Acquired
Hitachi Data Systems (1989, Santa Clara)
Data Storage, Computer Hardware and Software
Stage: Public
Azini Capital Partners
NetApp (1992, Sunnyvale)
Enterprise information management and storage
solutions
Stage: Public
Sequoia Capital, TA Associates Management, Sutter
Hill Ventures
Storage Media
Optical Storage
Metrofile (1983, Johannesburg)
Document management products and services
Stage: Public
Princo Corp. (1983, Hsinchu)
Tool coating, optical storage and SiP chip
manufacturer
Stage: Public
Taiyo Yuden (1977, Tokyo)
Electronic components and optical media solutions
Stage: Public
Technicolor (1915, Moulineaux)
Media Conglomerate providing production and
distribution services
Stage: Public
Vector Capital
HDD
HGST (2003, San Jose)
Helium filled hard drives
Stage: Acquired
Seagate (1979, Scotts Valley)
NAS storage devices for enterprise
Stage: Public
Credit Suisse, The Woodside Financial Group,
August Capital and 8 Other Investors
Western Digital (1970, Irvine)
SSD | Hybrid storage | Helium drives
Stage: Public
Xyratex (2009, Havant)
Disk drives and storage technology
Stage: Acquired
HgCapital

13
Storage Media
SSD
PCIe SSDs, Flash Storage Hardware and Software
Products
Stage: Acquired
Seagate, Mitsui Global, Globespan Capital Partners
and 9 Other Investors
Fusion-io (2006, Salt Lake City, $112M)
Flash Storage via PCIe
Stage: Acquired
Meritech Capital Partners, Accel Partners,
Andreessen Horowitz and 11 Other Investors
Corsair Memory (1994, Fremont, $75M)
DRAM and SSDs
Stage: Acquired
Francisco Partners, Norwest Venture Partners,
Silver Creek Ventures
SSD
Anobit (2006, Herzliya, $72M)
Flash storage solutions
Soonicorn. Stage: Acquired
Intel Capital, Pitango Venture Capital, Battery
Ventures and 1 Other Investors
OCZ Storage Solutions (2002, San Jose, $69M)
Solid State Drives
Stage: Public
Smile Gate Investment, Hercules Capital
Pliant Technology (2006, Milpitas, $50.3M)
Enterprise All Flash Drives (EFDs)
Stage: Acquired
Arcturus Capital, Lightspeed Venture Partners,
Menlo Ventures and 1 Other Investors
SandForce (2006, Fremont, $46M)
Developer of flash processor and controllers
Stage: Acquired
Canaan Partners, Storm Ventures, TransLink
Capital and 6 Other Investors
SSD
Innodisk (2005, Taipei)
Industrial embedded flash and DRAM storage
peripherals
Stage: Public
Supplier of flash memory cards
Stage: Acquired
Endeavour Vision, Mayfield, U.S Venture Partners
SMART Storage Systems (2008, Newark)
Solid State Storage Devices
Stage: Acquired
Silver Lake

14
Storage Media
All Flash Arrays
Pure Storage (2009, Mountain View, $528M)
Unicorn. Stage: Public
Firsthand Technology Value Fund, T. Rowe Price,
Sutter Hill Ventures and 11 Other Investors
Violin Memory (2005, Mountain View, $268M)
Stage: Public
GE Capital Canada, Juniper Networks, Highland
Capital Partners and 8 Other Investors
All-flash enterprise array
Soonicorn. Stage: Series F
Sequoia Capital, Pitango Venture Capital, Globespan
Capital Partners and 10 Other Investors
All Flash Arrays
Cloud computing Infrastructure
Stage: Acquired
Greenspring Associates, New Enterprise Associates,
Novak Biddle Venture Partners and 2 Other
Investors
Active data storage solutions for data-intensive
applications
Soonicorn. Stage: Series B
Mayfield, Intel Capital, Lightspeed Venture Partners
Whiptail (2008, Whippany, $41M)
All-Flash Storage Systems
Stage: Acquired
Spring Mountain Capital, Silicon Valley Bank,
Ignition Partners and 2 Other Investors
All Flash Arrays
XtremIO (2009, Herzliya, $25M)
SSD Data Storage
Stage: Acquired
Lightspeed Venture Partners, Giza Venture Capital,
Jerusalem Venture Partners and 2 Other Investors

15
Storage Media
NVRAM
Nantero (2001, Woburn, $110M)
Enabling faster storage using carbon nanotubes
(CNTs)
Soonicorn. Stage: Series E
Globespan Capital Partners, Charles River Ventures,
DFJ and 6 Other Investors
Diablo Technologies (2003, Ottawa, $101M)
Fabless semiconductors
Soonicorn. Stage: Series C
Israel Cleantech Ventures, Battery Ventures, Celtic
House Venture Partners and 6 Other Investors
Inotera memories (2003, Taoyuan City)
Provides DRAM foundry services
Unicorn. Stage: Acquired
Hybrid Storage
Low-cost hybrid storage provider
Unicorn. Stage: Series C
Goldman Sachs, TPG, Security Growth Partners
Tintri (2008, Mountain View, $260M)
Insight Venture Partners, New Enterprise
Associates, Menlo Ventures and 6 Other Investors
Tegile (2010, Newark, $178M)
Hybrid Storage Arrays
Soonicorn. Stage: Acquired
Meritech Capital Partners, Capricorn, Cross Creek
Advisors and 6 Other Investors
Hybrid secondary storage with insights and
analytics
Soonicorn. Stage: Series C
GV, Sequoia Capital, Cisco Investments and 11
Other Investors
Hybrid Storage
Primary Storage,Backup,Disaster Recovery
Stage: Acquired
Sequoia Capital, Accel Partners, Lightspeed Venture
Partners and 4 Other Investors
Quantum (1980, San Jose)
Stage: Public
Mayfield

16
NAS
CTERA (2008, Petah Tikva, $70M)
Cloud storage enablement and sync
Soonicorn. Stage: Series D
Bessemer Venture Partners, Cisco, Vintage
Investment Partners and 4 Other Investors
Isilon (2001, Seattle, $59.9M)
Scale-out Network Attached Storage (NAS)
Stage: Acquired
Focus Ventures, Sequoia Capital, Atlas Venture and
5 Other Investors
Crossroads (1996, Austin, $36.1M)
Data storage and protection solutions
Stage: Public
Techquity, Fortress Investment, Iron Mountain and
2 Other Investors
CrosStor Software (1990, South Plainfield)
Software for network attached storage
Stage: Acquired
NAS
Iomega (1980, San Diego)
NAS Storage Solutions
Stage: Acquired
U.S Venture Partners
SGI (1980, Fremont)
High-performance computing hardware
manufacturer
Stage: Acquired
Tennenbaum Capital Partners, Sevin Rosen Funds,
InterWest Partners and 4 Other Investors
SAN
Lefthand Networks (1999, Boulder, $50.5M)
SANs built around iSCSI (Internet Small Computer
System Interface)
Stage: Acquired
Boulder Ventures, Sequel Venture Partners, Garage
Technology Ventures and 11 Other Investors
Equallogic (2001, Nashua, $47M)
Storage are network systems
Stage: Acquired
Focus Ventures, Charles River Ventures, Sigma
Giganet (1994, Worcester, $41M)
iSCSI networking solutions
Stage: Acquired
HarbourVest Partners, H&Q Asia Pacific, NTT
Docomo Ventures and 2 Other Investors

17
SAN
ConvergeNet Technologies (1997, San Jose,
$30M)
SAN management solutions
Stage: Acquired
Sierra Ventures, TeleSoft Partners
Compellent Technologies (2002, Eden
Prairie, $29.3M)
Enterprise Network Storage
Stage: Acquired
Nomura, El Dorado Ventures, Cargill and 4 Other
Investors
Nexsan (1999, Thousand Oaks, $17M)
Disk-based storage systems
Stage: Acquired
VantagePoint Capital Partners, RRE Ventures, Blue
Chip Venture
Imation (1996, Oakdale, $14.9M)
Data Storage And Security Solutions
Stage: Public
SAN
Dot Hill (1984, Longmont, $8.8M)
SAN storage arrays and software
Stage: Acquired
McData (1982, Broomfield)
SAN switching solutions
Stage: Acquired
Austin Ventures, Silverton Partners, Norwest
Venture Partners
NuSpeed Internet Systems (2000, Maple
Grove)
Connects SAN and IP Networks
Stage: Acquired
Vesbridge Partners
Pathlight Technology (1995, Ithaca)
SAN Gateway and SAN router solutions
Stage: Acquired
Rand Capital, Huntington Ventures, Hudson
Venture Partners
SAN
QLogic (1994, Aliso Viejo)
Storage and Converged networking components
Stage: Acquired
Citadel, Western Technology Investment, Saints
Capital

18
Data Storage
File System
Gluster (2005, Sunnyvale, $12.5M)
Open source, software-defined storage
Stage: Acquired
Index Ventures, Nexus Venture Partners
Object Storage
LeoNovus (2009, Sunnyvale)
Software defined object storage
Stage: Public
Pinetree Capital
All flash hyper converged appliance
Soonicorn. Stage: Series G
S3 Ventures, InterWest Partners, Mesirow Financial

19
Hyper-Converged Infrastructure
Converged Compute and storage infrastructure
Goldman Sachs, Riverwood Capital, Morgan Stanley
Optimized IT Infrastructure Platform
Charles River Ventures, Meritech Capital Partners,
Accel Partners and 7 Other Investors
Springpath (2012, Sunnyvale, $34M)
Distributed file system for hyperconvergence
Stage: Acquired
Cisco Investments, Redpoint Ventures, Sequoia
Scality (2010, San Francisco, $90M)
Software defined storage
Hewlett Packard Enterprise, Broad Tower Inc.,
InktankProtected Tweets (2012, Los
Angeles, $14.4M)
Scale-out storage software and distributed file
system
Stage: Acquired
Shuttleworth, FinTech Innovation Lab
ScaleIO (2011, Haifa, $12M)
Stage: Acquired
Greylock Partners, Norwest Venture Partners,
Sapphire Ventures and 1 Other Investors
Copy Data Management
Actifio (2009, Waltham, $208M)
Copy data virtualization
Unicorn. Stage: Series E
Advanced Technology Ventures, Andreessen
Horowitz, Technology Crossover Ventures and 6
Other Investors

20
Backup
Local
Zantaz (1996, Pleasanton, $94M)
Content archiving and e-discovery
Stage: Acquired
General Atlantic, Silicon Valley Bank, Finova Capital
Avamar (1999, Irvine, $40.3M)
Backup and Recovery Software
Stage: Acquired
Lightspeed Venture Partners, Ventures, Benchmark
Data Domain (2001, Santa Clara)
Backup, recovery and deduplication
Stage: Acquired
New Enterprise Associates, Sutter Hill Ventures
Legato (1988, Mountain View)
Unified Platform for Backup and Recovery Software
Stage: Acquired
Mayfield
Enabler - Cloud
Connected (1996, Boston, $23.5M)
Storage software for automated protection,
archiving and recovery of distributed data
Stage: Acquired
Intel, SoftBank Group, Granite Ventures and 5 Other
Investors
FalconStor (2000, Melville)
Data Migration and Disaster Recovery
Stage: Public
Hales Capital Partners, Rembrandt Venture
Partners
Cloud
Enterprise endpoint backup & DLP solution
Riverwood Capital, Nexus Venture Partners, Tenaya
Code42 (2001, Minneapolis, $138M)
Cloud based endpoint data protection, backup &
security solution
Accel Partners, Split Rock Partners, New Enterprise
Associates and 1 Other Investors
Carbonite (2005, Boston, $66M)
Hybrid Backup and recovery for consumers and
small business
Stage: Public
Crosslink Capital, Menlo Ventures, Performance
Equity Management and 11 Other Investors

21
Backup
Cloud
Archivas (2004, Waltham, $12M)
Digital archiving solutions
Stage: Acquired
Polaris Partners, Solstice Capital, North Bridge
Dropsuite (2012, Singapore, $5M)
Back up products
Stage: Public
Hatcher, 500 Startups, Crystal Horse Investments
DataDepositBox (2002, Toronto)
Stage: Public
Iron Mountain (1951, Boston)
Online Backup and data protection services
Stage: Public
StarVest Partners, Solstice Capital, Entree Capital
Suite
De-duplicated storage based converged data
management platform
Unicorn. Stage: Series D
IVP, Lightspeed Venture Partners, Greylock
Datto (2007, Norwalk, $100M)
Backup storage provider with NAS
Technology Crossover Ventures, General Catalyst
Partners
Veritas (1989, Mountain View, $18.6M)
Information Mangagement & backup appliances
and software
Stage: Acquired
Lok Capital, CDC Group, Accel Partners and 6 Other
Investors
Suite
Commvault (1996, Middletown)
Enterprise Backup Software and appliance
Stage: Public
Credit Suisse, Saints Capital

22
Storage Management
Storage Management
Enterprise Content Archiving
Stage: Acquired
August Capital, Clearstone Venture Partners, Dot
Edu Ventures and 7 Other Investors
AppIQ (2001, Burlington, $20M)
Storage resource management software
Stage: Acquired
Matrix Partners, North Bridge, Advanced
Technology Ventures and 1 Other Investors
Onaro (2002, Boston, $10M)
Storage Management Software for SAN and
appliances
Stage: Acquired
Cedar Fund, Newbury Ventures
IceWEB (1994, Sterling, $4M)
high performance unified storage appliances
Stage: Public
Storage Management
3PAR (1999, Fremont)
Disk arrays and storage management software
Stage: Acquired
Menlo Ventures, Western Technology Investment,
IGlobe Partners and 6 Other Investors
OTG Software (1997, Hopkinton)
Data Management solutions
Stage: Acquired
Updata

List of Notable Companies in Enterprise Storage in China
Notable Companies in the Sector in China
23
Enterprise Storage > Feed Summary > Notable Companies in the Sector in China
Unicorns
Jinshan Yun
(2012, Beijing, $718M)

Recent News in Enterprise Storage Sector
Recent News
24
Enterprise Storage > Feed Summary > Recent News
Feb 2018
Veeam updates Australian and New Zealand ProPartner program
with new margin opportunities from HPE, VMware, Pure Storage,
CRN
Feb 2018 Nutanix searches for new A/NZ chief, Reseller
Feb 2018
Everspin Reports Preliminary Financial Results for the Fourth
Quarter 2017, Sector Publishing Intelligence
Feb 2018 Talon Storage FAST Business Grew 150% in 2017, StorageNewsletter
Feb 2018
Spanning Announces Major Enhancements to Salesforce Data
Protection Solution, Including Automated Metadata Restore,
Business Wire
Feb 2018 Dell to focus on Bharat to boost sales of PCs, The Hindu
Feb 2018
Scale Computing Teams With Unitrends To Drive Channel Hyper-
Convergence Sales, CRN
Feb 2018
Bright Computing Releases Version 8.1 of Bright Cluster Manager,
Bright OpenStack, DATAVERSITY
Feb 2018 Exclusive Q&A: Dell sets out new IoT strategy, Internet of Business
Feb 2018
Rubrik acquires Datos IO to expand into NoSQL database
management support, TechCrunch
Feb 2018
Dell 'XPS 13' world's smallest 13-inch laptop launched in India,
btvi.in
Feb 2018
Dell EMC Debuts PowerEdge Servers with AMD EPYC Chips ,
EnterpriseTech
Key Recent News Key Recent News
Feb 2018
Zerto Introduces an Industry-Leading IT Resilience Platform for
Multi-Cloud with Virtual Replication 6.0, GlobeNewswire
Feb 2018
Cloudian Enables S3-compatible Storage Access for NVIDIA’s Deep
Learning GPU System, Sector Publishing Intelligence
Feb 2018
AMD EPYC™ Momentum Grows with Three New Platforms in
Industry-Leading Dell EMC PowerEdge Family, GlobeNewswire
Feb 2018
Storage Made Easy and Cloudian partner to deliver high-speed
storage solution to first joint customer, PR Newswire
Feb 2018
Zadara Signs Strategic Alliance with MEGAZONE, a Key Amazon
Web Services Partner Network Member in APAC, Business Wire
Feb 2018 Quantum names new director, insurancebusinessmag.com
Feb 2018
Technicolor to Build $20M VFX Studio in South Australia's Adelaide,
The Hollywood Reporter
Feb 2018
YY Lee Joins Commvault Board as Independent Director, PR
Newswire
Feb 2018 Seagate launches business in East Africa, CIO East Africa
Feb 2018
Rackspace, USAA tap Silicon Valley tech startups to streamline
operations, The Business Journals
Feb 2018
Elastifile Exhibits at Molecular Med Tri-Con to Demonstrate Cloud
Integration for Scientific Computing Workflows, PR Newswire
Feb 2018
100% Bookings Growth for Panzura in 4Q17 Over 4Q16,
StorageNewsletter
Feb 2018
Druva Cloud Data Protection and Management Solutions Available
on AWS AsiaPac Region, StorageNewsletter

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
25
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
AI Infrastructure
Jan 2018
Healthcare IT
Jan 2018
FoodTech
Dec 2017

$659M $658M
$974M
$1.3B
$1.5B
$1.4B
$866M
$1.1B
0
10
20
30
40
50
60
70
80
90
100
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
$1.6B
2010 2011 2012 2013 2014 2015 2016 2017
$ Funding # Rounds
3 Year CAGR
6 Year CAGR
Investments ($M) and number of rounds in Enterprise Storage; 2011-2017
Global Funding Trends (1/2)
27
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Enterprise Storage > Investment Trends > Global Funding Trends
#Rounds
$Funding
5% $ Funding
12% $ Funding
9% # of Rounds
17% # of Rounds

$5M $10M $18M $12M $6M $5M $6M $15M
$302M $325M
$385M
$401M
$292M
$663M
$234M $218M
$351M $323M $571M $851M $1.2B $714M $627M $851M
2010 2011 2012 2013 2014 2015 2016 2017
Seed Early Stage Late Stage
7 8 14 13 11 10 5 10
39
37 43 30 32
27
21
20
26 18 31 31 29 20 16 18
2010 2011 2012 2013 2014 2015 2016 2017
Seed Early Stage Late Stage
72
48
Total # of Rounds
$258M $307M
$602M
$977M
$1.2B
$1.1B
$710M
$945M
0
5
10
15
20
25
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
2010 2011 2012 2013 2014 2015 2016 2017
$ Funding # of Rounds
28
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded ClubMega Rounds
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Enterprise Storage; 2011-2017
Enterprise Storage > Investment Trends > Global Funding Trends
22
28
18
21
19
11
18 137
$4.7M
$7.9M
$0.0M
$2.0M
$4.0M
$6.0M
$8.0M
$10.0M
$12.0M
$14.0M
0
20
40
60
80
100
120
140
160
2001-2011 2012 2013 2014 2015 2016 2017 Total
Entrants in Funding Club Avg. Ticket Size
9 10 21 22 21 17 15 19 $4.7M $7.1M $10.5M $4.8M $12.7M $8.3M $7.5M $7.9M
$659M
$1.1B
Total $ Invested

Enterprise Storage > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Enterprise Storage
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 6.3B 328
Waltham 524M 11
Austin 391M 35
Westborough 346M 11
Herzliya 301M 19
Seattle 261M 22
San Diego 240M 28
Boulder 231M 12
Pune 204M 9
Yokneam Illit 193M 7
Total Funding
94
46
47
12
13
2
1
# Rounds
$11.4B
$749M
$312M
$212M
$174M
$5M
$1.4M
US
Israel
Europe
India
Canada
SEA
Japan
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$1.4 $1.5
$1.0 $0.7 $0.7
$1.2
$2.1
2011 2012 2013 2014 2015 2016 2017
$5.5
$7.8
$14.2
$9.2
$7.3 $8.2 $8.2
$13.6 $12.8 $13.6 $15.5
$43.2
$18.0
$21.7
$19.0 $18.4
$32.7
$46.0
$37.6 $44.8 $50.1
Enterprise Storage > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Enterprise Storage; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$5K* $11M
$50K $31M
$92K $80M
$50K $1B
$22M
$7M
$2.8M
$0.3M
Series C+
Series B
Series A
Seed
Stage

Note: 110 companies with undisclosed funding amount are not included
31
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
22
69
119
58
36
No. of Companies
Enterprise Storage > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Enterprise Storage; as of Feb 2018
Distribution of companies by Funding Range
$9M
$307M
$2.9B
$3.9B
$6.6B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
53%
35%
26%
17%
32
Note: Numbers in the brackets show the count of companies
Time to raise
next round
128
198
272
405
770
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
53% 12%
(94)
10%
(80)
19%
(145)
4%
(30)
25%
(190)
67% 22%
(89)
19%
(75)
29%
(118)
6%
(24)
-2%
(-9)
73% 21%
(56)
15%
(42)
35%
(94)
6%
(15)
-13%
(-35)
65% 26%
(51)
19%
(37)
36%
(71)
6%
(12)
-7%
(-13)
- 33%
(42)
23%
(30)
34%
(44)
7%
(9)
-
Enterprise Storage > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Enterprise Storage
Funding Funnel
17 Months
16 Months
16 Months
Investment backedBootstrapped
14
9
100
28
3
2
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Enterprise Storage > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Enterprise Storage; Feb 2016-Feb 2018
Notable Investments in last 24 months (1/4)
LATE STAGE
$180M - Series D Apr 2017
management platform
IVP, Lightspeed Venture Partners, Greylock Partners
$95M - Series C Oct 2017
Low-cost hybrid storage provider
Goldman Sachs, TPG
$90M - Series C Apr 2017
Hybrid secondary storage with insights and
analytics
GV, Sequoia Capital, Cisco Investments, Hewlett
Packard Enterprise, Accel Partners, ARTIS Ventures,
Battery Ventures, Danhua Capital, Foundation
Capital, Qualcomm Ventures, Trinity Ventures, Wing
Venture Capital
LATE STAGE
$80M - Series F Aug 2017
Capital, Sequoia Capital
$75M - Series F Jan 2017
All-flash enterprise array
Sequoia Capital, Pitango Venture Capital, Globespan
Capital Partners, Silicon Valley Bank, Waterwood,
CIRTech Fund, CE Ventures
$67.2M - Series G Aug 2017
S3 Ventures
$61M - Series C Aug 2016
management platform
Khosla Ventures, Lightspeed Venture Partners,
Greylock Partners
LATE STAGE
$55M - Series C Dec 2016
IO processing & active data converging storage
device
New Enterprise Associates, Lightspeed Venture
Partners
$51M - Series E Sep 2016
Sequoia Capital, EDBI, Blue Cloud Ventures,
Hercules Capital, NTT Finance, Nexus Venture
Partners, Tenaya Capital
$41M - Series D Oct 2016
Cloudian (2011, Foster City, $81.7M)
Cloud Object Storage and Converged Infrastructure
provider
Lenovo, Epsilon Venture Partners, City National
Bank, Delta Venture Lab, Intel Capital, Innovation
Network Corporation of Japan, Eight Roads
Ventures, Goldman Sachs

LATE STAGE
$38M - Series F Sep 2017
Nasuni (2009, Natick, $109M)
NAS Filer | Enterprise Storage as a Service
Goldman Sachs
Diablo Technologies (2003, Ottawa, $101M)
Fabless semiconductors
Israel Cleantech Ventures, Battery Ventures, Celtic
House Venture Partners, BDC Capital, Hasso Plattner
Ventures, Genesis Capital
$33M - Series D Apr 2017
Meritech Capital Partners, Capricorn, Cross Creek
Advisors, Western Digital Capital
$32.5M - Series C May 2016
Qumulo (2012, Seattle, $130M)
hybrid scale-out NAS
Allen & Company, Top Tier Capital Partners, Tyche
Partners, KPCB, Valhalla Partners, Madrona Venture
Group, Highland Capital Partners
LATE STAGE
$32M - Series E Jan 2017
Panzura (2008, Campbell, $90M)
Global Cloud Storage System
Matrix Partners, Meritech Capital Partners, Opus
Capital, Chevron, Western Digital Capital
$30M - Series C Apr 2017
Qumulo (2012, Seattle, $130M)
hybrid scale-out NAS
Northern Light Venture Capital, KPCB, Madrona
Venture Group, Top Tier Capital Partners, Tyche
Partners
$25M - Series D Sep 2016
CTERA (2008, Petah Tikva, $70M)
Cloud storage enablement and sync
Bessemer Venture Partners, Cisco, Vintage
Investment Partners
LATE STAGE
$22.5M - Series C Mar 2017
Reduxio (2012, Petah Tikva, $49.5M)
Multi-tier hybrid storage for primary data
management
C5 Capital, Jerusalem Venture Partners, Intel Capital,
Seagate, Viola Group
$22M - Series E Dec 2016
Nantero (2001, Woburn, $110M)
Enabling faster storage using carbon nanotubes
(CNTs)
Globespan Capital Partners
$21.5M - Series C Mar 2017
Hedvig (2012, Santa Clara, $52M)
EDBI, Hewlett Packard Pathfinder, Atlantic Bridge
Capital, True Ventures, Vertex Ventures
$21.1M - Series E Sep 2016

LATE STAGE
$20M - Series E Jun 2016
Zerto (2009, Herzliya, $130M)
Disaster Recovery for Virtualized Environments
Charles River Ventures, IVP, 83North, U.S Venture
Partners, Access Industries, Claltech, Battery
Ventures, Harmony Partners, RTP Ventures
$20M - Series D Dec 2017
Nexenta (2005, Santa Clara, $69.9M)
Software-Defined Storage
SoftBank Group, Javelin Venture Partners, Tarkan
Maner
Primary Data (2013, Los Altos, $143M)
Software for Data Center Evolution
Pelion Venture Partners, Accel Partners, Battery
Ventures
$14.5M - Series D Sep 2017
Crossbar (2010, Santa Clara, $100M)
Pioneering non-volatile RRAM memory technology
LATE STAGE
$6.5M - Series E Aug 2016
Series E Apr 2016
NTT Finance
EARLY STAGE
$54M - Series B Sep 2017
Active data storage solutions for data-intensive
applications
Mayfield, Intel Capital, Lightspeed Venture Partners,
Redline Capital Management
$40M - Series B Apr 2016
Datera (2013, Mountain View, $40M)
Software defined cloud storage
Khosla Ventures, Samsung Venture Investment
$32M - Series B Jun 2016
Weka.IO (2014, Tel Aviv, $32M)
Stealth mode | Software defined storage startup
Qualcomm Ventures, Gemini Israel Ventures,
Norwest Venture Partners
$27M - Series B Nov 2017
StrongBox Data Solutions (2016, Austin,
$27M)
Storage management and archive solutions
Fonds de solidarite FTQ, Partner One Capital

EARLY STAGE
$20M - Series B Apr 2017
Portworx (2014, Redwood City, $28.5M)
Tool for developers and IT Ops to run containerized
apps in on-premise or in the cloud
Sapphire Ventures, GE Ventures, Mayfield
$20M - Series A Sep 2017
Minio (2014, San Francisco, $23.3M)
Open source multi-cloud distributed object storage
server
Dell Technologies, General Catalyst Partners, Nexus
Venture Partners, Intel Capital, AME Cloud Ventures
$20M - Series A Nov 2017
NVXL Technology (2015, Fremont, $20M)
non-volatile SSD storage or compute acceleration
platform
Alibaba Group

Enterprise Storage > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$300M - Series D Dec 2017
Jinshan Yun (2012, Beijing, $718M)
Online platform providing cloud storage and
China Minsheng Investment, Kingsoft Network
Technology
$220M - Series D Jan 2018
FOREBRIGHT CAPITAL, Kingsoft Network
Technology
$151M - Series E Aug 2017
Qiniu (2011, Shanghai, $251M)
Cloud based storage solutions provider
Alibaba Group, Yunfeng Capital
LATE STAGE
$50M - Series C May 2016
Zhiyuan Capital, Kingsoft Network Technology

Most Active Investors (VC, PE) by Stage in Enterprise Storage; Last 5 years (Feb 2013-Feb 2018)
Most Active VC & PE Investors
38
Enterprise Storage > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Accel Partners
PrimaryIO
1
Almaz Capital
Arcycle Software
2
Altair Capital
Arcycle Software
3
AME Cloud Ventures
Minio
4
Arizona Tech Investors
Codelucida
5
AVentures Capital
Spinbackup
6
Exfinity Venture Partners
PrimaryIO
7
Floodgate Fund
Boxbee
8
General Catalyst Partners
Minio
9
GV
Boxbee
10
EARLY STAGE
Intel Capital (9 Investments)
Cloudian, Maxta, Reduxio
1
Lightspeed Venture Partners (7
Investments)
Primary Data, Elastifile, Rubrik
2
Battery Ventures(5 Investments)
Primary Data, Elastifile, Cohesity
3
Mayfield(4 Investments)
SwiftStack, Vexata, Portworx
4
Western Digital Capital(4 Investments)
Elastifile, Everspin, Skyera
5
Accel Partners (3 Investments)
Primary Data, Cohesity, E8 Storage
6
KPCB(3 Investments)
Qumulo, PernixData, Pavilion Data
7
Qualcomm Ventures (3 Investments)
Cohesity, Weka.IO, Excelero
8
Braemar Energy Ventures(2 Investments)
SageCloud, Storiant
9
DFJ (2 Investments)
Bright Computing, Diamanti
10
LATE STAGE
Western Digital Capital(4 Investments)
Tegile, Avere, Panzura
1
Meritech Capital Partners (3 Investments)
SimpliVity, Tegile, Panzura
2
83North (2 Investments)
Actifio, Zerto
3
Cisco Investments(2 Investments)
Cohesity, Springpath
4
EDBI (2 Investments)
Druva, Hedvig
5
Greenspring Associates (2 Investments)
Nutanix, SolidFire
6
Hewlett Packard Pathfinder (2
Investments)
Hedvig, Coho Data
7
Insight Venture Partners (2 Investments)
Tintri, Veeam
8
IVP (2 Investments)
Zerto, Rubrik
9
Northern Light Venture Capital (2
Investments)
Qumulo, Crossbar
10

Enterprise Storage > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Enterprise Storage; Last 5 years (Feb 2013-Feb 2018)
Most Active Ecosystem Investors
INCUBATOR
Jerusalem Venture Partners(3
Investments)
Reduxio, iguaz.io, NooBaa
1
500 Startups(2 Investments)
Boxbee, Dropsuite
2
Magma Venture Partners(2 Investments)
E8 Storage, iguaz.io
3
SK Telecom Americas Innopartners(2
Investments)
Pavilion Data, BayStorage Technolgy
4
AngelPad
Boxbee
5
Startup Wise Guys
BitCalm
6
Techstars
Boxbee
7
OTHER NOTABLE INVESTORS
Dell Technologies(5 Investments)
Nexenta, Elastifile, Exablox
1
Silver Lake(4 Investments)
Tintri, Connectloud, Dell
2
Credit Suisse(3 Investments)
IBRIX, Seagate, Commvault
3
Goldman Sachs(3 Investments)
Nasuni, Infinidat, Diamanti
4
National Science Foundation(3
Investments)
NGD Systems, NxGn Data, Codelucida
5
ABRT Venture Fund(2 Investments)
Acronis, Veeam
6
Akamai(2 Investments)
ClearSky Data, NooBaa
7
Hewlett Packard Enterprise(2
Investments)
Scality, Cohesity
8
Riverwood Capital(2 Investments)
Nutanix, Druva
9
Seagate(2 Investments)
Reduxio, X-IO
10
DEBT INVESTORS
Western Technology Investment(17
Investments)
Nexenta, Aristos Logic, Sanera
1
Hercules Capital(5 Investments)
Druva, Actifio, OCZ Storage Solutions
2
Kreos Capital(5 Investments)
Kaminario, Crocus Technology, Reduxio
3
Eastward Capital Partners(3 Investments)
SimpliVity, Nasuni, X-IO
4
Leader Ventures(3 Investments)
Kaminario, Mimosa Systems, Nishan Systems
5
Capital Finance Group(2 Investments)
Zantaz, IBackup
6
Pinnacle Ventures
MonoSphere
7
Silicon Valley Bank
Kaminario
8
Trinity Capital Investment
Catalogic Software
9
Wellington Financial
PHD Virtual
10

Enterprise Storage > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/7)

Enterprise Storage > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
48
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Big Data Infrastructure
Jan 2018
Data Center Infrastructure
Jan 2018
Enterprise Networking
Jan 2018

Marketmap: Enterprise Storage
FACTSHEET
50
Enterprise Storage > Market Details > BlueBox

Key Sub Sectors (1/2)
51
Key Sub Sectors in Enterprise Storage
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Storage Media
Companies that design and manufacture data storage devices
Pure Storage (2009, Mountain View, Public)
136 88 $4.9B
Companies that provide products for storage architecture
Adaptec (1981, Milpitas, Acquired)
Coraid (2000, Redwood City, $115M)
126 87 $3.1B
Backup
Companies that provide hardware or software products that enable backing up of data
Datto (2007, Norwalk, Acquired)
316 97 $2.1B
Companies that provide products for consolidation, centralization of IT resources, further
getting best out of virtualized environments.
Nutanix (2009, San Jose, Public)
32 23 $1.3B
Companies that provide data storage technologies which separate storage hardware from the
software that manages the storage infrastructure.
Atlantis Computing (2006, Mountain View,
Acquired)
Primary Data (2013, Los Altos, $143M)
44 32 $776M
Storage Management
Companies that provide management solutions that help organizing and maximize or improve
the performance of the data storage resources
DataGravity (2012, Nashua, Acquired)
Ciphermax (2000, Cupertino, $90M)
54 36 $732M
Data Storage
Companies that provide products for addressing and manipulating data storage
Amplidata (2008, Lochristi, Acquired)
Basho (2007, Cambridge, $53.2M)
38 24 $415M
Companies that provide products for discovering, optimizing and automating the Elimination
of unnecessary duplication of data
Actifio (2009, Waltham, $208M)
TransferSoft (2014, Culver City, $3M)
4 3 $210M
Server-Side Caching
Companies that provide products for server side caching which involves the activity of
caching 'hot' data on the server, rather than pushing it to storage....
PernixData (2012, San Jose, Acquired)
Infinio (2011, Cambridge, $24M)
11 9 $136M
Enterprise Storage > Market Details > Key Sub Sectors

Key Sub Sectors (2/2)
52
Key Sub Sectors in Enterprise Storage
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Suite
Companies that provide a suite of storage solutions to enterprises
NetApp (1992, Sunnyvale, Public)
Infortrend (1993, Taipei)
5 4 -
Enterprise Storage > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/3)
53
Enterprise Storage > Market Details > Detailed Sector Taxonomy

54

55

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+4)
Backup > Cloud
Companies that provide products and services where data is backed up to a storage server or facility
connected to the source via the Internet
(Companies covered 166 | Funded 39 | Total Funding $776M)
$187M
(-$40.8M)
11
(-1)
Druva
(2008, Pune, $200M)
2
(+1)
Companies that provide data storage technologies which separate storage hardware from the software
that manages the storage infrastructure.
$186M
(-$62.8M)
13
(-5)
Datera
3
(+1)
Companies that provide products for consolidation, centralization of IT resources, further getting best
out of virtualized environments.
$202M
(+$14.8M)
7
(-10)
Pivot3
(2003, Austin, $230M)
4
(+2)
Backup > Suite
Companies that provide backup products and services which include local, cloud based backup services
$276M
(-$88.1M)
6
(-2)
Rubrik
(2014, Palo Alto, $292M)
5
(-3)
Storage Media > Hybrid Storage
Companies that provide hybrid drives which are a combination of NAND based flash SSDs with hard
disk (HDD) technology.
(Companies covered 25 | Funded 20 | Total Funding $1.7B)
$280M
(-$268M)
5
(-4)
Infinidat
(2011, Waltham, $325M)
6
(-5)
Storage Media > All Flash Arrays
Companies that provide flash array system that contains multiple flash memory drives instead of
spinning hard disk drives.
(Companies covered 29 | Funded 19 | Total Funding $1.5B)
$163M
(-$304M)
6
(-6)
Kaminario
(2008, Yokneam Illit, $218M)
7
(-)
Data Storage > Object Storage
Companies that provide products that offer object-based data storage
$52.2M
(-$18.6M)
10
(+2)
Minio
(2014, San Francisco, $23.3M)
56
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Enterprise Storage in last 2 years (February 2016 - January 2018)
Enterprise Storage > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Enterprise Storage > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Storage Media > All Flash Arrays
Companies that provide flash array system that contains multiple flash memory drives instead of spinning
hard disk drives.
(Companies created 29 | Funded 19 | Total Funding $1.5B )
1 Vexata (2014, San Jose, $54M)
2
Data Storage > Object Storage
Companies that provide products that offer object-based data storage
(Companies created 21 | Funded 12 | Total Funding $196M )
1 Minio (2014, San Francisco, $23.3M)
3
Companies that provide products for consolidation, centralization of IT resources, further getting best out
of virtualized environments.
1 Diamanti (2014, San Jose, $30.5M)
4
Storage Media > NVRAM
Companies that provide products for Non Volatile Random Access Memory (NVRAM)
1 E8 Storage (2014, Tel Aviv, $23M)
5
Storage Media > SSD
Companies that design and manufacture Solid-State Drive (SSD) devices
1 Kazan Networks (2014, Sacramento, $4.5M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
58
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (February 2016 - January 2018)
Enterprise Storage > Market Details > Top Markets of Early Stage Investors

Incubators 500 Startups (#2), Jerusalem Venture Partners (#1)
Seed Indian Angel Network (#1), Accord International (#1)
Series A/B Intel Capital (#2), Nexus Venture Partners (#1)
Series C+ Riverwood Capital (#1), EDBI (#1)
Dropsuite Mar - 2016
IPO'd
DataDepositBox Mar - 2015
IPO'd
Atempo Dec - 2011
Acq by ASG Technologies
Carbonite Aug - 2011
IPO'd
Skydesk Sep - 2008
Acq by Symantec
Archivas Feb - 2007
Acq by Hitachi for $120M
Iron Mountain Jul - 1997
IPO'd
Series B
Redstor (1998, Reading)
$5M - Series A
Trilio Data (2013, Hopkinton, $5M)
$80M - Series F
$22.5M - Series C
Reduxio (2012, Petah Tikva, $49.5M)
$5M - Series A
Dropsuite (2012, Singapore, $5M)
Series A
Jungle Disk (2006, San Antonio, $11M)
Feb 2018
Zerto Introduces an Industry-Leading IT Resilience Platform
for Multi-Cloud with Virtual Replication 6.0, GlobeNewswire
Feb 2018
Druva Cloud Data Protection and Management Solutions
Available on AWS AsiaPac Region, StorageNewsletter
Feb 2018
University of Colorado Boulder, USA, selects Arkivum
PERPETUA as its long-term digital preservation and data
archiving solution, RealWire
Jan 2018
RPD Ups Wind Power for Iron Mountain’s Mid-Atlantic
Facilities, Business Wire
Jan 2018
Carbonite's Channel Chief Out Amid Restructuring Of
Channel Organization, CRN
Jan 2018
Frost & Sullivan Recognizes Reduxio for Its Innovative Data
Storage Technology, PR Newswire
Jan 2018
Iron Mountain completes $1.3 billion acquisition of Phoenix
firm, The Business Journals
Jan 2018
Iron Mountain completes IO Data Centers acquisition,
DatacenterDynamics
Jan 2018
Digital, cloud key to business success in 2018 says Zerto, but
don't forget DR, iTWire
Dec 2017
Iron Mountain acquires OEC Records Management
strengthening its leadership position in India market, Core
Sector Communique
Dec 2017 Iron Mountain Incorporated : Prices Debt Offering, 4-Traders
Nov 2017 Beech Tree acquires cloud data business Redstor, Real Deals
Nov 2017
Carbonite Launching Disaster Recovery as a Service (DRaaS)
in 2018, ChannelE2E
News
0
2
4
6
8
10
$0k
$20M
$40M
$60M
$80M
$100M
$120M
$140M
$160M
2013 2014 2015 2016 2017
YoY Funding Rounds
7
8
24
39
166
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Backup > Cloud: Market Factsheet
Market: Cloud
59
Exits
Recent Investments
YoY Funding and Rounds
Companies that provide products
and services where data is backed
up to a storage server or facility
connected to the source via the
Internet
Druva
(2008, Pune, $200M)
Code42
(2001, Minneapolis, $138M)
Zerto
(2009, Herzliya, $130M)
Reduxio
(2012, Petah Tikva, $49.5M)
Quorum
(2008, San Jose, $35.5M)
Top Companies
#1 Top Markets of Investment Activity
Enterprise Storage > Market Details > Market: Cloud
Companies Created 166 | Funded 39 | Total Funding $776M

Backup > Cloud: Top Companies
Market: Cloud
Analyst’s Pick
Code42 (2001, Minneapolis, $138M)
Cloud based endpoint data protection, backup &
security solution
Accel Partners, Split Rock Partners, New Enterprise
Associates, JMI Management

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
61
Backup > Cloud: Leaderboard
Market: Cloud
Better than Market Average
Overall
Rating
Company
Name
Foun
ded
Year
Location Stage Funding Team
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Druva 2008 Pune Series F $200M - 5 3 4 21 129k 19k 30k 97 15k 13% 5 6% - -
5.0 Mozy 2005 Draper Acquired $2M - 4 4 4 4 163k 15k 30k 579 18k 12% 3 1% - -
4.9 Carbonite 2005 Boston Public $66M - 5 - - 16 33k 16k 33.4M
107.6
k
2k 4% 3.1k 3% - -
4.9 Backblaze 2007 San Mateo Series A $5M - 4 - - 6 22k 14k 30k 515 -3k -12% 26 10% 1k 8%
4.9 Code42 2001
Minneapoli
s
Series B $138M - 5 - - 15 82k 5.7k 750 17 22k 35% - - 95 2%
4.8 Zerto 2009 Herzliya Series E $130M - 5 - - 18 176k - 750 20 19k 12% 5 29% - -
4.8 IDrive 2007 Calabasas Funded - - 4 - 4 9 42k 23k 3.1M 7.6k -5k -10% 270 4% - -
4.8 Gladinet 2008
Fort
Lauderdale
Unfunded - - 3 - 5 - 700k 1.6k 11k 71 80k 13% 14 27% 47 3%
4.8
DataDepositBo
x
2002 Toronto Public - - 5 - - 10 501k 712 30k 222 -1.4M -73% 205
5044
%
141 24%
4.7 Livedrive 2008 London Acquired - - 3 - - - 150k 3.6k 75k 1.1k 23k 18% 3 1% -14 -
4.7 Jungle Disk 2006
San
Antonio
Series A $11M - 3 - - 3 525k 4.7k 3k 393 104k 24% - - 42 1%
4.7 Degoo 2001 Stockholm Unfunded - - 5 - - 1 53k 1.3k 30.1M
250.7
k
-3k -4% 87.8k 54% 97 8%
4.6 Memopal 2007 Rome Acquired - - 3 - - - 702k 2.7k 33k 420 378k 116% 27 15% -36 -1%
4.6 Iron Mountain 1951 Boston Public - - 4 - - 51 202k 7.6k 300 5 33k 19% - - 288 4%

Incubators Jerusalem Venture Partners (#1)
Seed Menlo Ventures (#1), Galileo Partners (#1)
Series A/B Battery Ventures (#3), Lightspeed Venture Partners (#3)
Series C+ Dell Technologies (#1), Hewlett Packard Enterprise (#1)
Atlantis Computing Jul - 2017
Acq by Hive-IO
$20M - Series D
Nexenta (2005, Santa Clara, $69.9M)
Series B
Excelero (2014, Santa Clara, $30M)
$7M - Series A
SoftIron (2012, London, $7M)
$16M - Series B
Elastifile (2013, Herzliya, $65M)
$20M - Series C
Primary Data (2013, Los Altos,
$143M)
Seed
HTBase (2012, Toronto)
$20M - Series B
Portworx (2014, Redwood City,
$28.5M)
$21.5M - Series C
Hedvig (2012, Santa Clara, $52M)
$5.5M - Series A
Virtual Power Systems (2012, Santa
Clara, $18.8M)
Series B
Elastifile (2013, Herzliya, $65M)
Feb 2018
Rackspace, USAA tap Silicon Valley tech startups to
streamline operations, The Business Journals
Feb 2018
Elastifile Exhibits at Molecular Med Tri-Con to Demonstrate
Cloud Integration for Scientific Computing Workflows, PR
Newswire
Feb 2018
Partners Deploy Software-Defined Power to Demonstrate
Energy Efficiency, PowerPulse
Jan 2018
HPE and Portworx Tap Kubernetes for Stateful Container
Storage Config, SDxCentral
Jan 2018 ProphetStor Assigned Patent, StorageNewsletter
Jan 2018
Datera Appoints Hal Woods as Chief Technology Officer,
GlobeNewswire
Nov 2017
DataCore Software Gains Storage Project of the Year Award
at SVC Awards 2017 through its ongoing work at Grundon
Recycling, RealWire
Nov 2017
Boston Limited Debuts New NVMe-based Boston Flash-IO
Talyn Server at SC - Denver, ResponseSource
Nov 2017
Datera Wins 2017 Telecom Council SPIFFY Award,
Marketwired
Sep 2017
DataCore Software Targets High-velocity Transaction
Processing and Real-time Analytics, DATAVERSITY
Sep 2017
DataON™ Announces the TracSystem Lightning Series of
Hyper-Converged Infrastructure (HCI), the First Certified
Intel Select Solution with Windows Server Software-Defined,
PRWeb
Sep 2017
Softiron says recently completed $7 million funding round
led by Earth Capital Partners, Reuters
News
0
2
4
6
8
10
12
14
$0k
$20M
$40M
$60M
$80M
$100M
$120M
$140M
$160M
2013 2014 2015 2016 2017
YoY Funding Rounds
3
7
24
32
44
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Software Defined Storage: Market Factsheet
Market: Software Defined Storage
62
Exits
Recent Investments
Companies that provide data
storage technologies which
separate storage hardware from
the software that manages the
storage infrastructure.
Scality
(2010, San Francisco, $90M)
Nexenta
(2005, Santa Clara, $69.9M)
Elastifile
Hedvig
(2012, Santa Clara, $52M)
Top Companies
Enterprise Storage > Market Details > Market: Software Defined Storage

Software Defined Storage: Top Companies
Analyst’s Pick
Scality (2010, San Francisco, $90M)
Hewlett Packard Enterprise, Broad Tower Inc.,
CloudByte (2010, Bangalore, $6.1M)
Storage solution for Cloud Service Providers
Minicorn. Stage: Series B
Nexus Venture Partners, Kae Capital, Eight Roads
Ventures, EVO Venture Partners

64
Software Defined Storage: Leaderboard
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 DataCore 1998 Lauderdale Series C $30M - - - 4 11 472k 12k - - 83k 21% - - 1k 9%
4.9 Scality 2010
San
Francisco
Series D $90M - - - - 21 539k 7.7k - - 258k 93% - - 1.3k 20%
4.8 Nexenta 2005 Santa Clara Series D $70M - - - - 7 661k 7.1k - - 80k 13% - - 36 1%
4.6 LINBIT 2001 Beaverton Unfunded - - - - 3 1 518k 1.7k - - 34k 7% - - 7 -
4.4 Portworx 2014
Redwood
City
Series B $29M - - - - 7 670k 923 - - -132k -16% - - 179 24%
4.4 SoftIron 2012 London Series A $7M - - - 4 5 7.7M 321 - - - - - - 38 13%
4.3 Hedvig 2012 Santa Clara Series C $52M - - - - 7 997k 3.2k - - -523k -36% - - 2 -
4.1 Maxta 2009 Sunnyvale Series B $45M - - - - 6 751k 2k - - -1.9M -71% - - 59 3%
4.0
Apeiron Data
Systems
2013 Sacramento Funded - - - - 4 4 2.5M 597 - - -2.5M -49% - - 150 32%
3.9
Atlantis
Computing
2006
Mountain
View
Acquired $34M - - - - 2 2.1M - - - 2M 96% - - - -
3.8 HiveIO 2015
New York
City
Funded - - - - 4 - 5.8M 499 - - - - - - 27 6%
3.7 ScaleIO 2011 Haifa Acquired $12M - - - - 1 1.5M 11 - - - - - - - -
3.5 StorPool 2011 Sofia Series A $250K - - - - 5 924k 351 - - -804k -47% - - 5 1%
3.4 Active Circle 2002 Paris Acquired $13M - - - - - 10M 45 - - 4M 46% - - - -
3.3 CloudByte 2010 Bangalore Series B $6M - - - - 3 819k 4.6k - - -109k -12% - - -24 -1%

Incubators SK Telecom Americas Innopartners (#1)
Seed EMC(#1)
Series A/B Goldman Sachs (#2), Intel Capital (#1)
Series C+ Lightspeed Venture Partners (#1), Northgate Capital (#1)
Maranti Aug - 2005
Acq by EMCfor $5M
$2.2M - Seed
Yottabyte (2009, Bloomfield Hills,
$2.2M)
$67.2M - Series G
$18M - Series B
Diamanti (2014, San Jose, $30.5M)
$55M - Series C
$41M - Series D
Cloudian (2011, Foster City, $81.7M)
$6M - Series B
Formation Data (2013, Fremont,
$60.2M)
$12.5M - Series A
Diamanti (2014, San Jose, $30.5M)
$15M - Series A
Pavilion Data (2014, Saratoga, $15M)
$18M - Series E
Scale Computing (2006, Indianapolis,
$69M)
$45M - Series F
Feb 2018
Scale Computing Teams With Unitrends To Drive Channel
Hyper-Convergence Sales, CRN
Feb 2018
Cloudian Enables S3-compatible Storage Access for NVIDIA’s
Deep Learning GPU System, Sector Publishing Intelligence
Feb 2018
Storage Made Easy and Cloudian partner to deliver high-
speed storage solution to first joint customer, PR Newswire
Jan 2018
Cloudian HyperStore 7 Multi-Cloud Data Management
Unifies Public Cloud and On-Premises Storage, GlobeNewswire
Jan 2018
Scale Computing teams up with value add distributor
Copaco, ResponseSource
Dec 2017
Syneto Enters the Spanish Market by Signing Distributor SM
Data, StorageNewsletter
Dec 2017
Cloudian Solution Eliminates Limits on the Amount of
Network Camera Data that Can Be Captured, Stored and
Leveraged Economically, 4-Traders
Dec 2017 Cloudian Announces GA Of HyperFile, Storage Review
Nov 2017
Pivot3 Sales Skyrocket to Record High in Q3 with more than
50-Percent Increase in Bookings, Business Wire
Oct 2017
Cloudian & Skymind collaborate on hyperscale data
management solutions, Data Centre News
Oct 2017
Cloudian Announces HyperStore Certification with
Telestream Vantage 7.1, Marketwired
Sep 2017
Pivot3 expands its Global Partner Program, Security Systems
News
Sep 2017
Kontron to do the 2-step with broadcasters at IBC 2017,
PressReleasePoint
News
0
2
4
6
8
10
12
14
$0k
$20M
$40M
$60M
$80M
$100M
$120M
$140M
2013 2014 2015 2016 2017
YoY Funding Rounds
1
5
13
20
28
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Converged Infrastructure: Market Factsheet
Market: Converged Infrastructure
65
Exits
Recent Investments
Companies that provide products
for consolidation, centralization of
IT resources, further getting best
out of virtualized environments.
Pivot3
(2003, Austin, $230M)
Datrium
(2012, Sunnyvale, $110M)
Cloudian
(2011, Foster City, $81.7M)
Scale Computing
(2006, Indianapolis, $69M)
Formation Data
(2013, Fremont, $60.2M)
Top Companies
Enterprise Storage > Market Details > Market: Converged Infrastructure

Converged Infrastructure: Top Companies
Analyst’s Pick
Soonicorn. Stage: Series G
S3 Ventures, InterWest Partners, Mesirow Financial

67
Converged Infrastructure: Leaderboard
Overall
Rating
Company
Name
Foun
ded
Year
App
Rating
App
UX
Web
UX
News
Web
Traffic
Rank
Social
Follow
ing
Mobile
Downl
oads
# App
Revie
ws
Web Traffic
Rank
Mobile
Downloads
Social
Following
Δ % Δ % Δ %
5.0 Green IT Globe 2012 Dubai Unfunded - - 3 - - - 4.5M 69 60 2 - - 16
-
189%
4 6%
4.8 Diamanti 2014 San Jose Series B $31M - - - 4 3 1.2M 447 - - - - - - 102 29%
4.6
Scale
Computing
2006
Indianapoli
s
Series E $69M - - - - 32 1.5M 3.5k - - -143k -10% - - 85 2%
4.4 Datrium 2012 Sunnyvale Series C $110M - - - - 21 636k 9 - - -532k -46% - - 4 51%
4.2 Cirrascale 2010 Poway Acquired $10M - - - - 1 4.8M 186 - - 3M 113% - - 6 3%
4.0
Formation
Data
2013 Fremont Series B $60M - - - - - 10M 2.2k - - 7M 126% - - -114 -5%
3.8 Syneto 2000 Timisoara Unfunded - - - - 3 5 1.6M 766 - - - - - - 123 19%
3.7 Pivot3 2003 Austin Series G $230M - - - - 21 1.2M - - - 238k 27% - - - -
3.5 Maranti 2000 San Jose Acquired $57M - - - - - - - - - - - - - - -
3.3 Connectloud 2013 Dallas Series A $4M - - - - - 10M 1.5k - - 3M 27% - - -23 -2%
3.1
StarWind
Software
2008 Wakefield Series A - - - - - 2 169k 6k - - 15k 10% - - - -
2.9 Cloudian 2011 Foster City Series D $82M - - - - 32 731k - - - -49k -6% - - - -
2.7 Nimboxx 2012 Austin Series A $12M - - - - - 10M 364 - - 332k 2% - - -8 -2%
2.5 Pavilion Data 2014 Saratoga Series A $15M - - - - 4 1.9M - - - 132k 8% - - - -
2.3 Evtron 2011 St. Louis Seed $600K - - - - - 10M 125 - - 834k 5% - - -3 -2%

Market: Suite
68
Enterprise Storage > Market Details > Market: Suite

Market: Suite

Market: Hybrid Storage
71
Enterprise Storage > Market Details > Market: Hybrid Storage
Companies Created 25 | Funded 20 | Total Funding $1.7B

Market: All Flash Arrays
74
Enterprise Storage > Market Details > Market: All Flash Arrays
Companies Created 29 | Funded 19 | Total Funding $1.5B

Market: Object Storage
77
Enterprise Storage > Market Details > Market: Object Storage

Market: Object Storage
Enterprise Storage > Market Details > Market: Object Storage

Market: SSD
79
Enterprise Storage > Market Details > Market: SSD

Market: SSD

Market: NVRAM
82
#4 Top Markets of Early Stage Investors
Enterprise Storage > Market Details > Market: NVRAM

Market: NVRAM

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
85
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/3)
87
Performance indicators of public companies in Enterprise Storage
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Jun 2017
Tintri (2008, Mountain View)
$216M TNTR
Mar 2016
Dropsuite (2012, Singapore)
Back up products
DSE
Sep 2016
Nutanix (2009, San Jose)
$2.2B NTNX
Oct 2015
Adesto (2007, Sunnyvale)
Low power CBRAM for IoT, health
$73.9M IOTS
Oct 2015
Pure Storage (2009, Mountain View)
$425M PSTG
Mar 2015
DataDepositBox (2002, Toronto)
DDB
Sep 2013
Violin Memory (2005, Mountain View)
$736M VMEM
Sep 2012
Quantum (1980, San Jose)
QTM
Mar 2012
Innodisk (2005, Taipei)
Industrial embedded flash and DRAM storage peripherals
5289
Aug 2011
Carbonite (2005, Boston)
Hybrid Backup and recovery for consumers and small business
$240M CARB
Enterprise Storage > Exit Outlook > Public Companies

88
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Sep 2010
4DS Memory (2007, Fremont)
Interface switching ReRAM
$7.6M 4DS
Apr 2010
OCZ Storage Solutions (2002, San Jose)
Solid State Drives
OCZ
Jun 2009
LeoNovus (2009, Sunnyvale)
Software defined object storage
$547k LTV
Mar 2007
GSI Technology (1995, Cupertino)
SRAM technology provider
GSIT
Sep 2006
Commvault (1996, Middletown)
Enterprise Backup Software and appliance
$604M CVLT
Jan 2003
Technicolor (1915, Moulineaux)
Media Conglomerate providing production and distribution services
TCLRY
Dec 2002
Seagate (1979, Scotts Valley)
NAS storage devices for enterprise
$5.1B STX
Aug 2001
FalconStor (2000, Melville)
Data Migration and Disaster Recovery
FALC
Oct 1999
Crossroads (1996, Austin)
Data storage and protection solutions
$461M CRDS
May 1999
Taiyo Yuden (1977, Tokyo)
Electronic components and optical media solutions
6976

89
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Jul 1997
Iron Mountain (1951, Boston)
Online Backup and data protection services
$281M PLH
Feb 1997
Overland Storage (1980, San Jose)
Data storage management
OVRL
Jul 1996
Imation (1996, Oakdale)
Data Storage And Security Solutions
IMN
Nov 1995
NetApp (1992, Sunnyvale)
Enterprise information management and storage solutions
NTAP
Jun 1995
Princo Corp. (1983, Hsinchu)
Tool coating, optical storage and SiP chip manufacturer
8053
Jun 1988
Dell (1984, Round Rock)
Enterprise solutions and consumer elecctronics company
DELL
Nov 1978
Western Digital (1970, Irvine)
SSD | Hybrid storage | Helium drives
WDC
IceWEB (1994, Sterling)
high performance unified storage appliances
Hitachi Data Systems (1989, Santa Clara)
Data Storage, Computer Hardware and Software
Metrofile (1983, Johannesburg)
Document management products and services
MFL

Notable Acquisitions (1/8)
90
Notable Acquisitions in Enterprise Storage
Enterprise Storage > Exit Outlook > Notable Acquisitions
2018 YTD
Acquirer: Microsoft
Avere (2008, Pittsburgh, $97M)
NAS optimisation solution
2017
Acquirer: Vista Equity Partners
Datto (2007, Norwalk, $100M)
Backup storage provider with NAS
Acquirer: Barracuda Deal: $55M
Sonian (2007, Dedham, $37.7M)
Cloud based Archiving as a Service
Acquirer: Cisco Deal: $320M
Springpath (2012, Sunnyvale, $34M)
Distributed file system for hyperconvergence
Acquirer: Western Digital
Acquirer: Hive-IO
Atlantis Computing (2006, Mountain View,
$34.2M)
Virtual Desktop Infrastructure | Software defined
storage
2017
Acquirer: EagleTree Capital Deal: $525M
Corsair Memory (1994, Fremont, $75M)
DRAM and SSDs
Acquirer: HyTrust
DataGravity (2012, Nashua, $92M)
Cloud data monitoring, threat detection and
incident response
Acquirer: Arcserve
Zetta (2007, Sunnyvale, $45.3M)
Enterprise-grade Online Backup
Acquirer: Hewlett Packard Enterprise
Deal: $1.1B
Primary Storage,Backup,Disaster Recovery
Acquirer: StorageCraft
Exablox (2010, Sunnyvale, $52.5M)
Network Attached Storage System

91
2017
Deal: $650M
Optimized IT Infrastructure Platform
2016
Acquirer: Nutanix
PernixData (2012, San Jose, $62M)
Server side flash virtualization
Deal: $275M
SGI (1980, Fremont)
High-performance computing hardware
manufacturer
Acquirer: Seagate Deal: $374M
Xyratex (2009, Havant)
Disk drives and storage technology
Acquirer: Cavium Deal: $1.4B
QLogic (1994, Aliso Viejo)
Storage and Converged networking components
Acquirer: Dell Deal: $67.0B
EMC(1979, Hopkinton)
RSA ECAT | Endpoint Threat Detection and
Response | EMC
2016
Acquirer: NetApp Deal: $870M
Cloud computing Infrastructure
Acquirer: The Carlyle Group Deal: $7.4B
Veritas (1989, Mountain View, $18.6M)
Information Mangagement & backup appliances and
software

92
2015
Acquirer: Micron Deal: $4.0B
Inotera memories (2003, Taoyuan City)
Provides DRAM foundry services
Acquirer: IBM
Cleversafe (2004, Chicago, $102M)
Hybrid data storage technologies
Acquirer: Western Digital Deal: $16.0B
Supplier of flash memory cards
Dot Hill (1984, Longmont, $8.8M)
SAN storage arrays and software
Acquirer: HGST
Amplidata (2008, Lochristi, $44.1M)
Object-based Software Defined Storage Platform
2014
Acquirer: HGST
Skyera (2010, San Jose, $51.6M)
Enterprise Solid-State Storage
Acquirer: Dell EMC
Maginatics (2010, Mountain View, $27M)
NAS for Highly-Distributed Environments
Acquirer: Iron Mountain Deal: $117M
Connected (1996, Boston, $23.5M)
Storage software for automated protection,
archiving and recovery of distributed data
Acquirer: Hitachi Data Systems
Sepaton (2003, Marlborough, $37.5M)
Backup and Recovery appliance
Acquirer: SanDisk Deal: $1.1B
Fusion-io (2006, Salt Lake City, $112M)
Flash Storage via PCIe
SandForce (2006, Fremont, $46M)
Developer of flash processor and controllers
2014
Acquirer: Oracle
GreenBytes (2007, Providence, $35M)
Virtual Desktop Storage Systems
Acquirer: Red Hat Deal: $175M
InktankProtected Tweets (2012, Los Angeles,
$14.4M)
Scale-out storage software and distributed file
system

93
2013
Whiptail (2008, Whippany, $41M)
All-Flash Storage Systems
Acquirer: Western Digital Deal: $685M
PCIe SSDs, Flash Storage Hardware and Software
Products
Acquirer: SanDisk Deal: $307M
SMART Storage Systems (2008, Newark)
Solid State Storage Devices
Acquirer: Dell EMC Deal: $200M
ScaleIO (2011, Haifa, $12M)
Acquirer: Imation Deal: $120M
Nexsan (1999, Thousand Oaks, $17M)
Disk-based storage systems
2012
Acquirer: Microsoft
StorSimple (2009, Santa Clara, $31.5M)
Hybrid cloud storage provider
Acquirer: SanDisk
Schooner Information Technology (2007,
Sunnyvale, $35M)
Caching Software for Hybrid Storage Systems
Acquirer: SK hynix
SK hynix memory solutions (2004, San Jose,
$69.2M)
Enterprise SSD solutions
XtremIO (2009, Herzliya, $25M)
SSD Data Storage
Acquirer: Western Digital Deal: $480M
HGST (2003, San Jose)
Helium filled hard drives
2012
Acquirer: Micron
Virtensys (2005, Beaverton, $40M)
PCIe Sharing appliances and solutions

94
2011
Acquirer: Apple Deal: $450M
Anobit (2006, Herzliya, $72M)
Flash storage solutions
Acquirer: ASG Technologies
Atempo (1992, Paris, $28.2M)
Back up and recovery solutions
Acquirer: Red Hat Deal: $136M
Gluster (2005, Sunnyvale, $12.5M)
Open source, software-defined storage
Acquirer: Hitachi
BlueArc (1998, San Jose, $221M)
Unified network storage systems
Acquirer: Imation
ProStor Systems (2004, Boulder, $30.4M)
Removable disk storage systems for enterprises
Acquirer: Oracle
Pillar Data (2001, San Jose, $150M)
SAN Block I/O storage Systems
2011
Acquirer: SanDisk Deal: $327M
Pliant Technology (2006, Milpitas, $50.3M)
Enterprise All Flash Drives (EFDs)
2010
Acquirer: Dell EMC Deal: $2.3B
Isilon (2001, Seattle, $59.9M)
Scale-out Network Attached Storage (NAS)
Acquirer: Dell Deal: $820M
Compellent Technologies (2002, Eden
Prairie, $29.3M)
Enterprise Network Storage
Acquirer: Hewlett-Packard Deal: $2.4B
3PAR (1999, Fremont)
Disk arrays and storage management software
Acquirer: IBM Deal: $140M
Storwize (2004, Los Gatos, $30.9M)
Real-time Data Compression
Acquirer: Dell
Ocarina Networks (2007, San Jose, $23M)
On-line Storage Optimization
Acquirer: hsin@vmemapj
Gear6 (2006, Mountain View, $24.5M)
Memcached solutions

95
2010
Acquirer: PMC - Sierra Deal: $34M
Adaptec (1981, Milpitas, $225M)
Designs data storage solutions
Acquirer: SGI Deal: $2M
Copan Systems (2002, Longmont, $110M)
Data storage peripherals
Acquirer: Iron Mountain Deal: $112M
Enterprise Content Archiving
Acquirer: Micron Deal: $1.3B
Numonyx (2008, Rolle, $150M)
Non-volatile memory design for consumer and
industrial needs
Exanet (2000, Ra'anana, $35M)
network attached storage systems
2009
Acquirer: LSI Deal: $25M
ONStor (2000, Campbell, $65.8M)
Data Domain (2001, Santa Clara)
Backup, recovery and deduplication
Acquirer: Hewlett-Packard
IBRIX (1999, Billerica, $59.6M)
Scale-out NAS platform
Acquirer: HitachiGST
Fabrik (2005, San Mateo, $51.3M)
Hardware flash storage and online storage solutions
Acquirer: F5 Networks
Attune Systems (1999, Santa Clara, $33M)
File Management solutions
Acquirer: Quest Software
MonoSphere (2001, Redwood City, $37.4M)
Storage capacity management software
Before 2008
Acquirer: Hewlett-Packard Deal: $360M
Lefthand Networks (1999, Boulder, $50.5M)
SANs built around iSCSI (Internet Small Computer
System Interface)
Acquirer: Symantec
Skydesk (1996, San Diego, $27M)
Online data backup services for the small
office/home office market
Acquirer: Adaptec Deal: $41M
Aristos Logic (2000, Foothill Ranch, $105M)
Redundant array of independent disk (RAID)
solutions
Iomega (1980, San Diego)
Acquirer: NetApp Deal: $120M
Onaro (2002, Boston, $10M)
Storage Management Software for SAN and
appliances

96
Before 2008
Acquirer: Dell Deal: $1.4B
Equallogic (2001, Nashua, $47M)
Storage are network systems
Acquirer: F5 Networks
Acopia Networks (2002, Lowell, $86M)
Intelligent file virtualization
Acquirer: Autonomy Deal: $375M
Zantaz (1996, Pleasanton, $94M)
Content archiving and e-discovery
Acquirer: Cisco
NeoPath Networks (2002, Mountain View,
$29M)
Develops Network File Management solutions
Acquirer: Hewlett-Packard
Polyserve (1998, Beaverton, $73.5M)
Storage software for clustering NAS appliances
Acquirer: Hitachi Deal: $120M
Archivas (2004, Waltham, $12M)
Digital archiving solutions
Before 2008
Acquirer: Xyratex
ARIO Data Networks (2000, San Jose, $34.5M)
storage solutions and RAID controllers
Acquirer: Symantec Deal: $20M
Revivio (2001, Massachusetts, $55.5M)
Continuous data protection based data backup and
recovery appliance
Avamar (1999, Irvine, $40.3M)
Backup and Recovery Software
Acquirer: LSI
StoreAge (1999, Haifa, $39M)
Split-path storage management solution
Acquirer: Brocade Communication
Systems Deal: $713M
McData (1982, Broomfield)
SAN switching solutions
Before 2008
Acquirer: Opsware
CreekPath Systems (1999, Longmont, $61M)
Storage Management Solution
Acquirer: Atempo
Storactive (1998, Marina Del Rey, $23.7M)
Continuous data protection for Windows PCs and
Exchange Servers
Acquirer: Dynamic Network Factory
StoneFly (2000, Hayward, $34M)
SAN, NAS solutions provider
Acquirer: QLogic Deal: $37M
Troika Networks (1998, Westlake Village,
$90M)
Storage virtualization platform
Acquirer: Hewlett-Packard Deal: $280M
AppIQ (2001, Burlington, $20M)
Storage resource management software

97
Before 2008
Maranti (2000, San Jose, $57M)
Network storage service controller
Actona Technologies (2000, San Francisco,
$23M)
Wide-Area File Storage Services
Acquirer: Applied Micro Circuits
3Ware (1997, San Francisco, $69M)
RAID Storage Solutions
Acquirer: NetApp
Spinnaker Networks (1999, Irvine, $51.4M)
Fiber Channel and ATA disk based NAS Solutions
Legato (1988, Mountain View)
Unified Platform for Backup and Recovery Software
Acquirer: McData Deal: $83M
Nishan Systems (1998, San Jose, $80M)
IP storage networking solutions
Before 2008
Acquirer: McData
Sanera (2000, Sunnyvale, $73.3M)
Enterprise storage networking solutions
Acquirer: Sanmina
Newisys - A Division of Sanmina
Corporation (2000, San Jose, $55M)
Designs and manufactures server and storage
solutions for data centers
Acquirer: Legato Deal: $403M
OTG Software (1997, Hopkinton)
Data Management solutions
Acquirer: Emulex Deal: $621M
Giganet (1994, Worcester, $41M)
iSCSI networking solutions
Acquirer: ADIC Deal: $265M
Pathlight Technology (1995, Ithaca)
SAN Gateway and SAN router solutions
Before 2008
CrosStor Software (1990, South Plainfield)
Software for network attached storage
NuSpeed Internet Systems (2000, Maple
Grove)
Connects SAN and IP Networks
ConvergeNet Technologies (1997, San Jose,
$30M)
SAN management solutions
Acquirer: Red Hat
Sistina (1997, Minneapolis, $25.4M)
Global File System (GFS) software provider

Most Active Acquirers
98
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