Pure Storage agreed yesterday to buy US-based data management software provider Portworx in a $370m deal that will allow corporates NetApp, Cisco, Hewlett Packard Enterprise (HPE) and General Electric (GE) to exit.
Founded in 2014, Portworx has developed a data services software platform built on open-source containerised application management software Kubernetes. Its technology will be integrated with Pure Storage’s existing data platforms.
The transaction follows $55.5m in funding for Portworx, which most recently closed a $27m series C round in March 2019 backed by cloud services provider NetApp, IT services firm HPE, networking technology producer Cisco and power and industrial equipment maker GE.
Venture capital firm Sapphire Ventures and sovereign wealth fund Mubadala Investment Company co-led the round while Cisco and GE participated through corporate venturing units Cisco Investments and GE Ventures.
The company had previously secured $20m in a 2017 series B round led by Sapphire Ventures that included GE Ventures, existing investor Mayfield Fund and other existing backers that may have included Michael Dell, a participant in its $8.5m seed round in 2015.
Charles Giancarlo, Pure Storage’s chairman and CEO, said: “As forward-thinking enterprises adopt cloud native strategies to advance their business, we are thrilled to have the Portworx team and their ground-breaking technology joining us at Pure to expand our success in delivering multi-cloud data services for Kubernetes.
“This acquisition marks a significant milestone in expanding our modern data experience to cover traditional and cloud native applications alike.”
