Storage Soup

Feb 14 2014   10:21AM GMT

Tintri expects funding to fuel path to IPO in 2015

Dave Raffo Dave Raffo Profile: Dave Raffo

Tintri CEO Ken Klein says the vendor will use its $75 million funding haul collected this week to grow the company substantially in hopes of going public next year.

Tintri, which sells arrays designed specifically for virtual machines, will use its latest funding to invest in “an aggressive product roadmap, double our sales force, triple our marketing spend and build out our infrastructure to be a public company,” Klein said.

“Our plan is to become the next great storage company.”

Tintri claims revenue from its VMstore storage arrays increased 115 percent last year over 2012, and its customers are running more than 100,000 virtual machines in full production

Klein became CEO last October when founder and former CEO Kieran Harty moved into the CTO role. Klein said no change of direction was required and he was brought on to oversee the company’s growth.

One change in Tintri is it now bills itself as “application-aware” storage instead of “VM-aware storage.” Klein said that’s because Tintri will add features such as application-specific quality of service and other capabilities that focus on applications rather than VMs.

“I believe VMs are proxies for applications,” he said. “We will be adding more capabilities for applications, that’s the direction of the company. We upleveled the messaging.”

As for the aggressive product roadmap, Klein said Tintri will add more enterprise features and cloud functionality. He added, “We’re always looking at designing new platforms” to complement its VMstore arrays.

The E series funding brings Tintri’s total to $135 million, and added Insight Venture Partners to its list of investors. Previous investors Lightspeed Venture, Menlo Ventures and NEA also participated.

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