Samsung Venture Investment Corporation, the corporate venturing unit of the South Korea-based technology conglomerate, has contributed to US-based data storage company Pure Storage’s series C round, which has closed at $30m.
Samsung, the world’s second largest semiconductor manufacturer after Intel, provided its backing in the context of a broader strategic partnership.
The round, described by Pure Storage as oversubscribed, also featured investment from venture capital firms Redpoint Ventures, Greylock Partners, Sutter Hill Ventures and various angel investors.
The series C round takes the total capital raised by Pure Storage to $55m since its inception. Greylock invested $20m for Pure Storage’s August 2010 series B round, while Sutter Hill and Redpoint also contributed to the $5m series A round in 2009.
Jim Elliott, vice president of memory marketing and product planning for Samsung Semiconductor, said: "There is a transformation underway in the data storage market, and Pure Storage’s approach to enabling flash for mainstream data storage is helping to point the way. Our companies share a common vision: to ‘green’ the data center through solid state technology that will be radically faster, yet consume a fraction of the power and space required today."
Pure Storage also took the opportunity to unveil its flagship product, an all-flash storage system it claims is more than ten times larger and faster than disk-based systems, while remaining affordable. Pure Storage will invest the equity in engineering, operations and marketing.