Tintri Raises $125M in Recent Round; IPO Could be the Next Update

Tintri has recently raised $125M in a recent round led by Silver Lake Kraftwerk. Tintri’s existing investors Insight Venture Partners, Lightspeed Ventures, Menlo Ventures and NEA also participated. The round brought the amount to a total $260 million.
Tintri develops storage solutions for virtual applications i.e. a flash-hard drive hybrid storage appliance and works with companies specifically building virtual applications. Tintri has actually defined its own storage category it calls ‘VM-aware storage (VAS)’.

It may be a buzz word, but it seems to be having an impact with over 800 customers so far, according to Ken Klein, the CEO of the company.

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According to Klein, it’s a ‘smart storage’ because it uses algorithms that monitor the virtual machines, assigning the heaviest workloads to faster flash storage (while backing up to cheaper hard drives) and moving virtual machines with less activity onto hard drives.

Customers of Tintri include some heavy hitters, such as Chevron, Comcast, GE, MillerCoors, Rogers Communications, SK Telecom, Sony and Time Warner, as well as many government agencies.

The company recorded triple-digit growth for fiscal year 2015 over 2014, according to Klein and also indicated the next logical step is probably going to be an IPO in the first half of 2016 if market conditions are right.

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