Cloud File Storage Leader Nasuni Raises $40 Million

By Annie Baker • Jul 17, 2020
  • Nasuni — a leading provider of cloud file storage — announced that it has raised $25 million in new equity financing along with a $15 million debt facility

Nasuni — a leading provider of cloud file storage — announced that it has raised $25 million in new equity financing along with a $15 million debt facility to fund the company’s rapid growth. Over the past three years, Nasuni has raised over $100 million each at a significant increase in valuation.

The equity round of funding features a mix of new and existing investors like Family Offices, Venture Capital and Corporate Venture. And this brings Nasuni’s total funding since inception to $169 million. And prior investors — including Goldman Sachs, Telstra Ventures, Northbridge Venture Partners, and others — also participated. The $15 million credit facility was provided by Silicon Valley Bank, which the company intends to use to fund acquisitions and other strategic projects.

And the investors have been impressed by Nasuni’s traction. Essentially, Nasuni consolidates legacy file storage silos into the cloud, which empowers customers to access all of their files from anywhere at about half the cost of legacy enterprise file storage.

Nasuni still has to use the $25 million it raised in its previous financing round — which was announced in February 2019. And given how quickly the cloud market is evolving during the COVID-19 pandemic, investors have been eager to invest more to enable the company to lean into new opportunities.

Nasuni also announced the newest version of its platform. The new version of its platform has the capability to deliver enhanced remote work, simplified cloud migration, and protection for critical file data.

Key Quotes:

“During these uncertain times for the global economy, Nasuni continues to shine. With data capacity under management growing by over 50% annually, a net expansion rate of greater than 115% in each of the last five years and a capital-efficient business model, Nasuni’s differentiated value stands out. The pandemic has forced enterprise IT to accelerate moving their file infrastructure to the cloud, and Nasuni allows them seamless data access globally from both the cloud and the data center. Nasuni is in a great position to expand and become the market leader not just for cloud file storage, but for all enterprise file storage.”

— David Campbell, managing director at Goldman Sachs and Nasuni Board Member

“Closing major funding during these times of economic uncertainty is a testament to the promise that our investors see in Nasuni. When national and local governments issued lockdowns and stay-at-home orders to combat the virus, organizations were faced with a unique challenge: to deliver access to files and manage data center infrastructure remotely. With this new financing, we have all the resources we need to meet the growing demand.”

— Paul Flanagan, president and chief executive officer of Nasuni