SAP’s corporate venturing unit has joined technology corporates Toshiba and Juniper Networks backing US-based computer memory company Violin Memory, taking the company to a more than $800m valuation, in the $50m round on Monday.
The corporates were joined in the series D round by venture firm Highland Capital Partners and other unnamed investors.
Violin Memory added that other unannounced public companies had backed the round.
Gaurav Tewari, a director of SAP Ventures, will be joining Violin’s board as an observer. Tewari said: "IT leaders in the enterprise are embracing the in-memory database movement and the ‘speed-of-thought’ business benefits it brings.
Nino Marakovic, managing director of SAP Ventures, said: "By supporting Violin Memory and its disruptive flash technology, we can help to accelerate this trend, remove today’s memory limitations and open the field to all applications."
Scott Nelson, vice president of the memory business unit at Toshiba America Electronic Components, said: "We are pleased to continue this relationship with Violin to address the needs of customers who are targeting the fast-growing cloud computing and data center markets. Toshiba’s leading-edge NAND technology is an integral component in Violin’s high-performance flash Memory Arrays."
Violin Memory was founded in 2005.
Corporate venturing-backed data storage company Violin Memory was reported to be pulling together a flotation for between December and April this year, according to news provider the Wall Street Journal in July last year.
Violin Memory raised $40m in its series C round from existing corporate venturing investors and other, undisclosed listed companies. The round followed a $35m series B round by corporates including Toshiba and Juniper Networks in February 2011.
Other investors in the company include angels Atiq Raza, the former number two at Advanced Micro Devices, Arjun Gupta, the founder of TeleSoft Partners, and venture capitalist Dixon Doll.