US-based cloud infrastructure software provider Silk has raised $55m in a series B round featuring insurance firms Clal Insurance and Menora Mivtachim.
Venture capital firm S Capital led the round, which was also backed by financial services provider Bank HaPoalim, as well as Meitav Dash, Sequoia Capital, Pitango Venture Capital, Globespan Capital Partners, Ibex Investors and Vintage Investment Partners.
Formerly known as Kaminario, Silk has built an online platform that enables companies to move their core applications onto the cloud as well as improve their database performance. It had initially focused on all-flash storage hardware, before pivoting to a software-only offering in July 2020.
The capital injection will enable Silk to bolster its sales and marketing activities as well as expand its engineering development.
The series B round has increased the company’s total funding to about $298m. In 2018, Silk received $25m from data storage technology provider Western Digital’s investment subsidiary, Western Digital Capital.
Waterwood and CIRTech co-led a $75m series F round for the business in 2017 that featured Sequoia, Pitango, Lazarus Israel Opportunities Fund, Silicon Valley Bank and Globespan.
The company raised $68m in a series E round closed in 2015 including Mitsui Global Investment, representing diversified conglomerate Mitsui, as well as Sequoia, Pitango, Globespan, Tenaya Capital, Lazarus Hedge Fund and Silicon Valley Bank.
Silk previously raised $65m of investment including a $25m series D round in 2012 and a $15m series C round in 2011. Those rounds featured investors including Sequoia and its Growth Equity unit, in addition to Globespan, Pitango and Tenaya.