Nutanix has raised $101 million [£61.5 million] in a new funding round that is the precursor to it becoming the next Silicon Valley startup to embark on a lucrative initial public offering [IPO].
The next generation data centre infrastructure solutions provider closed a Series D funding round that was led by Riverwood Capital and SAP Ventures with Morgan Stanley Expansion Capital and Greenspring Associates also participating in the round, and takes funding to $172.2 million [£104.8 million].
“Adoption of web-scale computing, and Nutanix’s Virtual Computing Platform in particular, has grown explosively over the last two years, yet we’ve only scratched the surface of this $100 billion [£60.8 billion] hybrid computing market,” said Dheeraj Pandey, CEO of Nutanix. “The additional support from such a high-quality investor group leaves us uniquely positioned to capitalize on the opportunity and build one of the elite companies of this decade.”
Nutanix will use the new funding, which came from the largest single round in the history of the converged infrastructure market, to hasten its global expansion efforts, increase investment in R&D, expand its service delivery capabilities, and cultivate its sales, marketing and support teams.
Talk now will turn to when Nutanix will launch its IPO and Pandey admitted that it expects to go to market at some point in the next 18 months.
"Although we don't have a timeline, we are absolutely working towards building a company of lasting value and liquidity. An event like an IPO is a very natural course from where we are today to where we'll be in the next 12 to 15 months,” Pandey told CNET.
Nutanix’s Virtual Computing Platform, its main product, is a converged infrastructure solution that brings together the server tier and storage tier into one integrated appliance. It builds on the same principles and technologies that power the likes of Amazon, Facebook and Google, and tailors them for enterprises and government agencies.