Cohesity has announced $250 million in Series E funding, led by DFJ Growth, Foundation Capital, Greenspring Associates, and Wing Venture Capital.
DFJ Growth and Greenspring Associates are new investors as are Baillie Gifford and Sozo Ventures. The round also includes broad support from existing investors, including Sequoia Capital and SoftBank Vision Fund 1, as well as strategic investors Hewlett Packard Enterprise and Cisco Investments.
Cohesity is now valued at $2.5 billion, more than double the valuation from the company’s Series D round less than two years ago. With the new funding, Cohesity’s total funding since inception exceeds $650 million.
This funding recognises the traction Cohesity is seeing in the market as a disruptive, software-defined data management company. Cohesity radically simplifies the way businesses back up, manage, protect, and extract value from their data – in the data centre, at the edge, and in the cloud.
“Closing a major funding round during these times of economic uncertainty is testament to the promise that our investors see in Cohesity,” said Mohit Aron, CEO and founder, Cohesity.
“More enterprises globally are abandoning legacy offerings in favour of our modern, software-defined approach to data management that is incredibly simple to use – critical during these challenging times as customers are looking to reduce total cost of ownership while enabling remote IT teams.”
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Randy Glein, co-founder and partner, DFJ Growth said: “We are excited to partner with Cohesity because they are attacking a huge market and are simply the best at what they do. They are reinventing data management with extraordinary solutions and a vision for the future that is unlike any other company in the market today.
“We are excited to be a part of Cohesity’s journey and look forward to helping the company, and its world-class team, scale into the category-defining company built to last.”
“Foundation Capital is excited to continue investing in Cohesity – a company that is transforming data management,” added Ashu Garg, general partner, Foundation Capital.
“Data is the most valuable digital asset for enterprises today, yet many organisations struggle to manage, protect, and derive value from it. Cohesity’s cutting-edge software makes it easy for customers to solve these challenges in a hybrid cloud world. We believe that’s why the company is seeing such rapid adoption and will continue to win favour with enterprises globally.”