US-based data storage software provider Nasuni raised $40m in debt and equity financing on Tuesday from investors including telecommunications firm Telstra’s corporate venture capital unit, Telstra Ventures.
Telstra was joined in the $25m equity portion of the round by investment bank Goldman Sachs, North Bridge Venture Partners and unnamed other existing backers, as well as undisclosed new investors Nasuni said may have included corporate venturers, VC investors and family offices.
The company said the $25m took its overall equity funding to $169m, and it was raised alongside a $15m credit facility supplied by Silicon Valley Bank. It also said, without giving details, that the round significantly increased its valuation.
Nasuni has created a cloud-based system for file storage it claims offers almost infinite capacity, together with built-in backup. It stores files and metadata in the cloud while the company’s edge devices cache frequently used files on premises for customers.
Telstra Ventures led Nasuni’s last round, in February 2019, when it secured $25m from investors including Goldman Sachs, North Bridge Venture Partners, Sigma Prime Ventures and Flybridge Capital Partners.
Goldman Sachs Growth Equity had led the company’s $38m series F round in 2017. Its existing investors also include computing technology producer Dell’s corporate venturing unit, Dell Technologies Capital, which may have invested as early as its 2012 series C round.
Paul Flanagan, Nasumi’s president and CEO, said: “Closing major funding during these times of economic uncertainty is a testament to the promise that our investors see in Nasuni.
“When national and local governments issued lockdowns and stay-at-home orders to combat the virus, organizations were faced with a unique challenge: to deliver access to files and manage data centre infrastructure remotely. With this new financing, we have all the resources we need to meet the growing demand.”
