US-based data storage software provider Cohesity has entered talks with prospective investors including telecommunications group SoftBank’s Vision Fund to raise at least $150m, Recode has reported, citing people familiar with the matter.
The round is set to be led by Vision Fund and it would value the company at $900m pre-money, up from a $500m+ valuation in its April 2017 series C round, the sources said.
Founded in 2013, Cohesity has built a web-scale software platform that enables enterprises to store, manage and protect externally-sourced data. It said in January this year that it had increased revenue by 600% in 2017 while doubling its customer base.
The company has so far raised $160m across three rounds, including a $15m Sequoia Capital-led series A round in 2013 and a $55m series B in 2015 that was co-led by Qualcomm Ventures, the corporate venturing arm of mobile chipmaker Qualcomm, and venture capital firm Artis Ventures.
The series B round also featured GV, the corporate venturing subsidiary of internet and technology group Alphabet then known as Google Ventures, and VC firms Battery Ventures and Trinity Ventures.
GV and Sequoia subsequently led Cohesity’s $90m series C round, which included Qualcomm Ventures, enterprise technology provider Hewlett Packard Enterprise, networking system provider Cisco, Artis, Battery, Trinity, Foundation Capital, Accel, Wing Venture Capital and DHVC.