It has been one year since Waltham-based Actifio raised $100 million in investment funding, valuing the company at more than $1 billion and elevating it to “unicorn” status — meaning that it is privately held and has raised investment funding that values the company at more than $1 billion. Today, Westborough-based tech infrastructure company SimpliVity joins the unicorn list.
The company, which was described by BetaBoston as the Boston-area’s fastest growing tech firm in July, announced today that it has raised $175 million in new funding, and says that it is now valued at more than $1 billion. The new funding comes from Geneva, Switzerland-based Waypoint Capital, and includes previous investors Accel Partners, CRV, DFJ Growth, Kleiner Perkins Caufield & Byers, and Meritech Capital Partners. To date, the company has raised $276 million in investment funding since its founding in the fall of 2009.
“According to Morgan Stanley,” said SimpliVity chief executive Doron Kempel, “we are the fastest infrastructure company to get to $1 billion from the time we started shipping, which is 23 months.”
“If you think about other trailblazers getting to $1 billion in valuation, they typically take between 30 and 32 months,” he added.
SimpliVity provides a product called OmniCube, launched in 2013, which provides virtualized data centers to make using IT infrastructure easier for companies of all sizes. OmniCube uses what the company calls a “hyperconvergence” of IT products which make it simpler and cheaper for companies to deal with almost every challenge that an IT department may face.
As Kempel put it, “SimpliVity OmniCube basically does the job of the following products all-in-one: the server, the storage space, the storage, all the data protection products including the backup and replication, data for backup, data for the cloud, acceleration, the data management, and more.”
He said the money the company has raised is going to go to engineering and to increasing sales.
“We were very happy customers of SimpliVity,” said Frederic Wohlwend, the chief information and technology officer at Waypoint Capital. “Their products were cost-effective for us and helped us meet all our goals.”
Wohlwend explained that after discussing the company internally with his team, “our chairman and our board were intrigued by this project and this technology so we looked into investing in the company.”
“We found that it was not only a superior technology but also a very competent team. It became so obvious to us that SimpliVity is not only leading the hyperconvergence market today, but will be the confirmed leader for the future and will disrupt the industry,” he added.
SimpliVity, which had 125 employees in the fall of 2013, has more than 440 employees in 18 different countries today. The company has shipped 1500 product to date and its products are being sold in 50 different countries. Customers include the MLB Network, T-Systems, and others that the company couldn’t disclose.