Fusion-io Raises $45 Million in Series C Financing to Accelerate Growth and Development of Next Generation Flash TechnologiesSalt Lake City, April, 19, 2010— Fusion-io, creator of a new memory tier of flash-based solid-state (ioMemory), today announced that it has raised approximately $45 million in a Series C preferred stock financing, led by new investor, Meritech Capital Partners. Also participating in the round were new investors, Accel Partners, Andreessen Horowitz and Triangle Peak Partners, as well as returning investors, New Enterprise Associates (NEA) and Lightspeed Venture Partners, among others.Fusion-io will direct the additional investment towards scaling up infrastructure to support rapidly increasing sales and build on the momentum its flash-based memory tier is experiencing across multiple industries. Funding will also support development of next generation technologies and products that will further distance the ioMemory Tier from the competition."The money put into the company by this impressive list of investors demonstrates the value of our technology in the current marketplace," said Dennis Wolf, CFO of Fusion-io. "Our competition will no doubt take note and be appropriately concerned about the extent and rapidity of our growth."“In only a couple of years Fusion-io has clearly demonstrated the disruptive, innovative nature of its technology. It is causing organizations around the globe to rethink the way they architect their data centers,” said George Bischof, Managing Director at Meritech Capital. “This round of funding will allow Fusion-io to maintain the rapid pace of innovation it has established. We are excited by the significant value proposition the company’s products are delivering to customers, as well as the improvements that will be enabled with the next generation of revolutionary technology from Fusion-io.” About Fusion-ioFusion-io is a leading provider of enterprise solid-state technology and high-performance I/O solutions. The company’s solid-state storage technology closes the gap between processing power and storage needs delivering breakthrough performance at a fraction of the cost of traditional disk-based storage systems. The result is a world of possibilities for performance-starved applications. For more information, please visit www.fusionio.com .
Hey, I'm all open for more competition and it's good to see a newer company making a difference (and making those SSDs cheaper!) Obviously the $45 million investment says that they have potential.
This proves that Turtleneck a genius does not make!
For those of us that remember the whole evolution of Apple, know that Wozniak was the true genius behind apple innovations! He is the one who understands his people, and the other just understands how to exploit them.
It sounds like some investors understand that anything Wozniak touches has the potential to be the next generation technology, because he understands the need and the devices from a personal standpoint. If you put him on stage then I would be more inclined to rush out and line up at the Fusion-io stores.
I agree with moethelawn, this can only be good for us. I am using almost 2TB now, so I can't wait for SSDs to come way down on pricing. Obviously I'll have to start with just my OS drive.
love them SSD's