It wasn’t the monthly bank statement that made Nasuni, a Boston-based cloud storage technology startup, run out and raise $25 million in venture funding.
The company had yet to burn through even half of the $38 million it raised in September 2017 in a venture round led by Goldman Sachs. So, why did Nasuni recently raise more money?
CEO Paul Flanagan tells Xconomy that investors were calling up Nasuni asking if the business needed cash. The venture capitalists had spotted the widespread enterprise movement to the cloud from legacy data storage and sharing systems.