Cohesity raises US$250 million in funding round
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Cohesity announced it raised $250 million in an oversubscribed Series D funding round led by the SoftBank Vision Fund with participation from strategic investors Cisco Investments, Hewlett Packard Enterprise (HPE), and Morgan Stanley Expansion Capital, along with early investor Sequoia Capital and others.
The investment is a testament to Cohesity’s experience in transforming data centre and cloud operations with web-scale simplicity for secondary data.
This round brings total equity raised to $410 million, outpacing all other Series D enterprise software investments in the United States over the last 18 months.
This is only the second time SoftBank Investment Advisers has invested in an enterprise software company.
Cohesity is using the investment to power large-scale global expansion by attacking a problem that enterprises currently spend an estimated $60 billion each year to address using separate point solutions.
Cohesity CEO Mohit Aron says, “My vision has always been to provide enterprises with cloud-like simplicity for their many fragmented applications.
“Cohesity has built significant momentum and market share during the last 12 months and we are just getting started.”
“We succeed because our customers are some of the world’s brightest and most fanatical IT organisations and are an extension of our development efforts.”
By simplifying application and data management while improving efficiency, Cohesity has supposedly delivered value to customers.
Cohesity data platform aims to address the fragmented and complex infrastructure that enterprises are currently attacking with massive resources that could be driving success in other parts of the business.
Cohesity will benefit from the renewed support of strategic investors Cisco and HPE, both innovative technology leaders serving the Forbes Global 2000.
HPE offers a suite of comprehensive solutions built with Cohesity’s platform.
Their decision to double down on prior strategic investments in Cohesity will give the company a greater foothold to grow its presence among enterprise customers throughout the world.