Qumulo, a US-based data management platform backed by hard drive manufacturer Western Digital, closed a $125m series E round led by investment manager BlackRock.
The round included Highland Capital Partners, Madrona Venture Group, Kleiner Perkins, Amity Ventures and undisclosed others, and it valued the company at more than $1.2bn.
Founded in 2012, Qumulo has created file data management technology that enables clients to store, handle and access files across multi-cloud environments. The product is aimed at industries handling petabytes of data, such as drug developers and movie studios.
The series E funding has been allocated to accelerated product development and international expansion efforts that will include the formation of strategic partnerships.
Bill Richter, Qumulo’s chief executive, said: “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 company has now secured $351m in funding altogether, it said. Western Digital contributed to a $93m series D round in mid-2018 that was led by undisclosed funds managed by BlackRock Private Equity Partners.
The round also featured investment bank Goldman Sachs, Highland Capital Partners, Madrona Venture Group, Valhalla Partners and Kleiner Perkins Caufield & Byers (KPCB), the forerunner of Kleiner Perkins .
The company’s earlier funding was supplied by KPCB, Madrona, Northern Light Venture Capital, Top Tier Capital Partners, Tyche Partners, Allen & Company and Valhalla Partners.
