Cloud file storage solutions provider Nasuni has secured $60m (£45.4m) in funding from a new investor, Sixth Street Growth, as firms worldwide accelerate their cloud transformation efforts.
The new capital injection, bringing the total raised by the firm to $148m (£112.1m), is the fourth round of financing Nasuni has received over the last five years. It now has approximately $100m (£75.7m) in cash on its balance sheet.
With this new round of financing, Nasuni plans to focus on the international expansion of its File Data Services, potential strategic acquisitions and innovation.
“The unprecedented events of the past 24 months have accelerated the generational cloud transformation for businesses and the increasing value of data,” said Paul Flanagan, CEO of Nasuni. “Nasuni pioneered the cloud-based file data services category almost a decade ago and has led the way in defining the architecture, business model and user experience. This investment and our continued, rapid growth are validation of our vision.”
As per IDC, cloud file services adoption will reach a five-year compound annual growth rate (CAGR) of 40% and become a $14bn (£10.6bn) market by 2025. This growth rate for file data is higher than both the block and object storage markets.
“Nasuni offers its clients great products, with solutions that are highly effective at solving pressing needs for efficient cloud data storage and data protection,” said Michael McGinn, partner and co-head of Sixth Street Growth. “Nasuni is poised to accelerate its already impressive organic growth through international expansion and the development of new features and capabilities as it continues to be a leader in the file data services market.”
The funding comes as Nasuni reported record-setting results in 2021. The firm achieved significant YoY growth in ARR, a continued surge in customer wins globally, and a rapidly increasing number of customers paying Nasuni over $1m (£758k) in annual contract value.
