Cloud storage firm Nasuni has won a new majority investment by Vista Equity, KKR, and TCV, boosting the company’s value to $1.2 billion.
Boston-based Nasuni enables customers to simplify file data management for hybrid cloud environments through its Nasuni File Data Platform.
The company competes with the likes of NetApp in the cloud storage space, and has long term partnerships with Google, AWS, and Microsoft. Alongside its Nasuni File Data Platform, the company offers virtual machines - Nasuni Edges - that can run on-premises.
Its 850-plus customers include organizations within the manufacturing, construction, energy, consumer goods, and public sectors, with its services available in more than 70 countries.
Nasuni said the investment will enable it to further accelerate product innovation and commercial expansion in the global hybrid cloud market.
"At Nasuni, we care first and foremost about the success of our customers, partners, and employees," said Paul Flanagan, CEO of Nasuni.
"We are maniacal about our commitment to delivering quality in every aspect of our business and interaction with our customers.
"This investment and our strategic partnership with Vista, TCV, and KKR will allow us to build upon that commitment, scale with purpose and continue to innovate as we look to take Nasuni to the next level."
BofA Securities served as the exclusive financial advisor, with Goodwin Proctor acting as legal advisor to Nasuni. Kirkland & Ellis LLP served as legal counsel to Vista and TCV.
KKR is making the investment through its Next Generation Technology III Fund.
Vista exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, and currently has more than $100 billion in assets under management.
TCV, meanwhile, has invested more than $20 billion in 350 technology companies worldwide and has supported over 150 IPOs and strategic acquisitions, while KKR sponsors investment funds that invest in private equity, credit and real assets, and has strategic partners that manage hedge funds.
"Nasuni's platform offers a highly differentiated approach to consolidating, protecting, and managing data at scale with performance that is critical to supporting AI applications and other high-volume data use-cases," said Martin Taylor, co-head of Vista's Foundation Fund and senior managing director.
"We are thrilled to partner with the Nasuni team as they work to help businesses optimize their expanding and complex data needs with solutions that are fast, secure, and highly cost-effective."
