Primary Data, a US-based data virtualisation software producer backed by computer technology provider Dell Technologies, is shutting down after failing to attract enough clients, TechCrunch reported yesterday.
Primary Data has created a platform, DataSphere, that facilitates automated enterprise data management across the cloud and on-site infrastructure. It uses machine learning to organise data without manual intervention or the disruption of applications.
The company has not made an official statement about shutting down, though TechCrunch cites an inability to attract enough clients as a key cause. Its investors allegedly chose to wind down the business rather than inject more capital.
Primary Data’s social media accounts have either been deleted or set to private, though the website remains available as of the time of writing.
Dell’s corporate venturing arm, Dell Technologies Capital, lists Primary Data as a portfolio company but has not revealed details of when precisely it invested.
Primary Data most recently raised $20m in equity funding from Pelion Venture Partners, Accel, Battery Ventures and unnamed existing backers in August 2017 alongside a $20m bridge loan.
The company had closed its $60m series B round in 2014 with $10m from Mercato Partners, having raised the first $50m from Accel, Battery Ventures, Pelion, Lightspeed Venture Partners, Wing Capital Group and Cedar Fund the year before when it was still in stealth.