Media Mentions

INFINIDAT Inc., a secretive young data storage company, has burst into public view with $150 million in new funding and a valuation of $1.2 billion, placing it among the most valuable privately held companies in the world. The round was led by TPG Growth and takes total funding to $230 million, which may be enough to take INFINIDAT to an initial public offering, according to head of marketing Gareth Taube. Founder and Chief Executive Moshe Yanai “has started and sold a number of companies, but his mantra for this one is to take it public,” Mr. Taube said. Mr. Yanai, who’s been working on storage technology in some form since the 1970s, started INFINIDAT in 2010. He is a former fellow at both EMC Corp.EMC -1.35%, where he is recognized as “one of the founders of the modern EMC,” which began specializing in storage products in the late 1980s after he joined, and International Business Machines Corp.IBM -1.22%, which acquired his previous storage company, XIV, in 2008.

INFINIDAT , an Israeli company founded by the engineering team behind EMC’s Symmetrix and IBM’s XIV, started shipping product in 2013. With over 100 PB shipped to multiple Fortune 100 companies, the company feels it is ready to expand its sales and marketing footprint to take on the behemoths of the storage industry such as EMC, HDS and NetApp. The $150m from TPG, a large capital management group, brings INFINIDAT’s total funding to $230m. The original $80m came from the founder’s, who’ve been quite successful with their earlier ventures. Why a new high-end array vendor in an industry battered by cloud storage, flash arrays, and scale out object storage? INFINIDAT offers up to 2 PB of usable capacity – without dedup or compression – in a single 42u rack, guaranteed 99.99999 percent availability – less than three seconds of downtime year – all software included in the base price, with three years of 24 seven on-site service. All for $1 per usable GB.

Search for information about INFINIDAT , the latest data storage company founded by industry legend Moshe Yanai, and you’ll come up with surprisingly little. At least, you would until today. That’s likely to change after INFINIDAT announced Wednesday it has raised $150 million in a Series B round led by TPG Growth, the venture capital fund of the private equity firm TPG. The round values INFINIDAT at $1.2 billion post-investment, and it brings the total raised by the company to $230 million. INFINIDAT , a five-year-old Israel-based startup with its U.S. headquarters in Needham, MA, makes data storage arrays that combine flash storage with conventional hard disk drives. The company says the system, which it calls the Infinibox, has room for 2 petabytes of data and throughput speeds of up to 12 gigabytes per second. INFINIDAT is targeting enterprise customers, such as firms in healthcare and financial services, managed service providers, and cloud vendors that run an increasing number of apps in the cloud and have massive data storage needs.

INFINIDAT — Moshe Yanai’s newest startup — today shed light on its InfiniBox array and picked up $150 million in funding to push it into the market. Yanai led development on the EMC Symmetrix high-end enterprise array from 1987 to 2001. After leaving EMC, he founded early deduplication player Diligent Technologies and storage array startup XIV. He sold Diligent and XIV to IBM. CEO Yanai started INFINIDAT in 2010 and the company quietly began shipping its InfiniBox arrays in early 2013. Until now, INFINIDAT has gone after carefully targeted customers to make sure the technology was battle-tested before broadening distribution. INFINIDAT’s goal is to build the type of hyperscale storage used by companies such as Google and Facebook. But its target audience is enterprises. An InfiniBox storage system can hold 2 PB of storage in a 42U rack. INFINIDAT claims a rack can handle 750,000 IOPs with 12 Gigabit per second throughput and seven-nines of availability at a cost of $1 per GB of usable storage.