Datrium Raises $60 Million, Looks To Accelerate Growth Via Channel Partners
Datrium, which specializes in providing high-performance unified hybrid primary and secondary storage via converged server and data nodes, Thursday unveiled a new $60 million round of funding the company expects to use to accelerate growth.
The new D round of funding, which brings total funding in Datrium to $170 million, was led by Samsung Catalyst Fund, said Greg Kleiman, product marketing director for the Sunnyvale, Calif.-based storage vendor.
The new funding is aimed mainly at growing Datrium's sales and marketing activities as a way to accelerate growth, and also includes an investment in engineering, Kleiman said.
Datrium develops the DVX series of on-premises hyper-converged infrastructure offerings with separate server and storage nodes targeted. DVX provides a flash storage platform for running customer applications, and includes built-in data protection and disaster recovery capabilities.
The company also develops Cloud DVX, a cloud-native version of DVX for Software-as-a-Service-based backup and recovery, and earlier this month unveiled CloudShift, a new automated disaster recovery offering with fast recovery, global deduplication, continuous compliance checks, and nondisruptive disaster recovery testing.
CloudShift is expected to be available in the first half of 2019, Kleiman said. It will be a subscription-based offering, with the price possibly based on capacity although no final decision has been made, he said.
Kleiman said Datrium has been seeing 300 percent to 400 percent annual growth for the last three or four years, but declined to discuss the company's finances in detail.
"But the business is ramping quickly," he said. "That continues to be the goal."
It is unclear whether Datrium will need another round of funding, Kleiman said.
"The plan always is, this will be the last round," he said. "But we're not sure how things will be when we [go through] this money. And even if we turn profitable by then, we may need another round of funding for growth."
Datrium's business goes 100 percent via channel partners, Kleiman said. "When we started, we believed we could grow faster if we work with partners," he said. "They have developed customer relationships over time and can help us scale faster."