Today we’re announcing $38M in growth equity funding led by Goldman Sachs. It’s been less than a year since Nasuni raised $25M, and we have only just begun to invest that capital. So why did we do it again?
The short answer: in the months since our last fundraising, we’ve seen dramatic change in the scalable NAS market and incredible validation of Nasuni’s disruptive enterprise file services solution, cloud-native file system, and SaaS delivery model. We have an expanded opportunity to impact how unstructured data is managed and how IT and lines of business think about storing, protecting, and sharing their most important digital asset – their files.
When one of the world’s top financial institutions sees things the same way you do, it’s an easy decision to add more fuel to the fire.
But let’s dig a little deeper.
A fundamental shift in how file data is managed
Over the past 8 years, we’ve observed (and with our technology, hastened) a fundamental change in the way files are stored, backed up, recovered, and shared.
Traditionally, IT organizations buy network attached storage (NAS), backup, archive, and disaster recovery hardware and software for their main data centers. Then they duplicate some of this infrastructure in remote and branch offices and pay for bandwidth to move files around. Making all these IT silos work together requires more IT staff, so a significant OpEx hit is required on top of the heavy, up-front CapEx investment.
Even with these large IT cash outlays, file growth quickly outpaces capacity. File sharing and transfer challenges limit multi-site collaboration, throttling productivity and slowing time-to-market. Insufficient recovery points and recovery times threaten business continuity.
Nasuni’s cloud-native global file system and on-premises caching appliances, delivered as a subscription-based cloud service and integrated with world-class third-party cloud storage, represent a paradigm shift in unstructured data management.
A global file system purpose-built for the cloud
File systems have been around forever. Starting with FAT and proceeding through NFS, WAFL, and OneFS, they are the time-proven way to store, organize, protect, and share unstructured file data.
How has file system technology evolved with the advent of the cloud, and the tectonic shift it represents? It hasn’t. The last decade has seen only incremental innovation in file system design. File systems continue to be device-centric, constrained by the limits of the hardware within which they live. That legacy approach can no longer keep pace with the explosive growth of creative content, video, audio, industry-specific application files, IoT-generated files, and more that is the reality of the modern enterprise.
Nasuni changes the game. Unlike legacy file systems that reside within physical devices, and are therefore constrained by physical device limitations, Nasuni UniFS is the first file system designed to have its inode structure reside in the cloud. This makes UniFS as scalable as the cloud itself, and enables the Nasuni platform to inherit the virtually unlimited capacity, durability, and geo-redundancy of AWS S3, Azure blob storage, IBM Cloud Object Storage, and other third-party public and private cloud storage offerings.
Additionally, Nasuni becomes the hub for a robust high-performance file storage and distribution network, giving distributed teams a simple way to collaborate on very large file workloads across any number of locations. We transform global organizations by globalizing their file infrastructures.
That’s why Nasuni is a software company, not a storage company
While many storage vendors claim to be software companies, in the end customers must buy more of their hardware to store more data. That approach just doesn’t work anymore. Hardware is the bottleneck. There is too much file data and customers need to do more with that data than ever before.
At Nasuni, we built our entire software stack from scratch for the cloud. When our customers need more capacity or when they need to move files around the enterprise, it just happens. No limits. No hassles. No extra hardware!
So what exactly does the Nasuni platform displace?
The Nasuni UniFS file system, together with third-party cloud storage and Nasuni’s on-premises caching appliances, offers unlimited primary and archive file storage, displacing NAS.
Nasuni Continuous File Versioning records every change to every file forever, displacing file backup.
Because our file system lives entirely in the cloud and each edge appliance only needs a fraction of the metadata to provide directory and group share access, they can be instantiated in minutes anywhere there is power and network connectivity. Any location can now be used for disaster recovery, displacing dedicated DR sites.
And Nasuni’s Global Volume Management uses the cloud to propagate changes to any number of locations worldwide, displacing WAN acceleration and MPLS bandwidth, while enabling enterprises to increase productivity through improved collaboration.
Nasuni has become the breakaway leader in Enterprise File Services
Our cloud-native approach is resonating with forward-thinking, cloud-first enterprises that need to manage fast-growing file data. We’re quickly becoming the leader in enterprise file services, with the world’s largest businesses in 6 different industry segments choosing Nasuni for their global file infrastructures. Microsoft awarded Nasuni “Azure Global ISV of the Year” for driving more customer wins in the Azure cloud than any other vendor in Microsoft’s fiscal 2017. CIOReview named Nasuni to its 20 Most Promising Storage Solution Providers 2017 list.
Who will redesign NAS for the cloud?
The NAS ecosystem is undergoing major upheaval. Dell acquired EMC and is trying to rationalize multiple product lines. HPE and NetApp continue to sell on-premises disk arrays into the headwind of the cloud. IBM has tremendous potential with its Cleversafe (now IBM Cloud Object Storage) and SoftLayer (now IBM Bluemix) acquisitions, but needs a way to fill up these new object stores. Nutanix and Pure Storage are innovating around block storage, but have limited technology for unstructured data. Commvault and Veritas continue to view the cloud as merely a backup destination, instead of a target for primary file storage and a hub for high-performance file distribution.
Customers must ask: who will innovate in enterprise file services? Who will unleash the potential of cloud object storage for unstructured data management and the cloud itself as a substrate for cost-effective, high-speed file transfer? Who remains independently focused on pushing the world’s first cloud-native file system forward? And who has the technology, vision, leadership, and financial backing necessary to achieve all this?
The answer: Nasuni
Nasuni (“NAS Unified”) is in the business of enterprise file services. We believe our cloud-native file system is critical to building global file infrastructures that can uniquely meet today’s unstructured data growth challenges. And future-proof information architectures for tomorrow.
With this new funding led by Goldman Sachs, we can now accelerate our investment in cloud-scale enterprise file services. Not only do we get a world-class financial institution in our corner, we also gain a valuable board member in David Campbell, Director of Goldman Sachs’s Merchant Banking Division. A former IT executive who ran enterprise storage for Goldman Sachs, David brings real-world experience to Nasuni.
We have proven our technology works at scale. We are acquiring new customers at an increasing pace. Our customers renew their Nasuni subscriptions and buy more every year. Now, it’s about seizing the opportunity to drive growth and scale in our business.
Nasuni is the beginning of the end of the enterprise storage hardware market. Join us as we reinvent network attached storage for the cloud era, and change the way unstructured data is managed. Long live the cloud!