Nexenta announced that it was raising $20 million to accelerate its global market growth and solidify its innovation and market leadership in the Open Source-driven Software-Defined Storage (OpenSDS) space. SoftBank Corp. The financing round was led by SoftBank Corp., along with a Strategic Distribution and Go-To-Market agreement. The round also attracted leading strategic and financial investors, including: Javelin Venture Partners, SV Booth Investments, SAB Capital, Lake Trail Capital, TRB Equity, and Tarkan Maner, CEO at Nexenta.
With the announcement, Nexenta is hoping that it will continue to disrupt the hardware-only legacy storage market via complete software-only enterprise storage solutions, services and support.
Nexenta CEO, Tarkan Maner, commented, “Nexenta is continuing its massive market disruption where legacy hardware storage companies had dominated the industry for the past 30+ years. We are delighted with our solid market growth via our tight customer and partner relations, deep IP innovation and unmatched operational excellence. We believe with this strategic financing round supported by SoftBank and some of the leading global strategic and financial investors, Nexenta will extend its market and innovation leadership into new geographic, vertical and differentiated IP markets from IoT to Artificial Intelligence and Robotics and Big Data supporting any type of computing from the Edge to Core and Cloud Data Center Computing – on any type of hardware or compute platform, via any protocol, for any app on any hybrid or multi-cloud deployment.”
SoftBank and Nexenta entered a strategic agreement that involves commercial dimensions around SoftBank’s distribution and usage of Nexenta portfolio, and collaborative integrated OpenSDS systems development with SoftBank and its preferred hardware partners.
“SoftBank is focused on partnering with market-leading technology companies around the world. Nexenta is an innovator and disruptor with its deep IP portfolio, strong OEM relationships, and proven management team. We are excited to partner with Nexenta and realize the advantage of software defined storage at SoftBank and our eco-system partners,” said Ken Miyauchi, President & CEO of SoftBank Corp.
The details of the strategic investment and commercial agreement was announced yesterday in Tokyo, Japan, at SoftBank HQs with a Signing Ceremony with an audience of joint customers, partners and press.