January 30, 2018

New round for Igneous

Object storage is hot, I should say S3 storage and Igneous Systems, one of the recent player, just raised a B round with $15 million of fresh money from existing investors associated with Vulcan Capital and Orca Bay Capital. The total (Seed + A + B rounds) reaches now $41.6 million.

The company promotes now a hybrid cloud storage model with backup and archiving use cases for unstructured data. It's a real change from last year story as the unique characteristics are no longer mentioned. Now the story is about on-prem secondary storage with second data copy on top 3 cloud service providers AWS, GCP or Azure. Perfectly against other players or even new data protection guys like Cohesity or Rubrik. What is true is the size of the opportunity.

With this round Stephen Mullaney, past CEO of Nicira at the time the IT Press Tour met the team in March 2012 before the VMware acquisition, joins the board of directors.

We expect Igneous to continue innovate and play a different game as the company confirmed its move to the pack with dozens of others. Again 2018 will be interesting.

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