Hyperconverged Secondary Storage Provider Cohesity Raises $250M in Series D Funding

Cohesity, hyperconverged secondary storage provider has raised $250 million in Series D funding round let by SoftBank's Vision Fund, valuing the company at more than $1 billion.

Other investors who participated in the funding are Cisco Investments, Hewlett Packard Enterprise(HPE), and Margan Stanley Expansion Capital, along with early investor Sequoia Capital. Until now, Cohesity has raised a total of $140 million funding.

Started by Nutanix co-founder Mohit Aron, Cohesity provides services to help businesses store, manage and protect their data. It has two products - a hyperconverged platform for secondary data called Cohesity Data Platform and a data protection solution called DataProtect.

The company plans to use the funds raised to power it's "large-scale global expansion". Rob Salmon, president and chief operating officer at Cohesity told Reuters that SoftBank will help the company expand operations in India and other Asian countries like South Korea and Japan.

San Jose-based Cohesity claims that it has added more than 200 new enterprise customers in the last two quarters like ending Club, Hyatt, AutoNation, Schneider Electric, the U.S. Department of Energy, the U.S. Air Force, BC Oil and Gas Commission, TCF Bank and the San Francisco Giants among others.

It also claims the company's annual revenues surged by 600% between 2016-2017 but didn't disclose any specific numbers.