Qumulo, Led by Isilon Execs, Raises $30M to Push Data Storage Sales
Qumulo’s founders, leadership team, and investors are all betting that the Seattle data storage technology provider can deliver a repeat of another local success story—and now they’ve got $30 million in fresh funding riding on it.
The five-year-old company brings together many of the same people who built Isilon Systems, a data storage company that was acquired by EMC for $2.5 billion in 2010.
Qumulo’s latest funding, described as something between a Series C and D round, was led by new investor Northern Light Venture Capital, a Chinese firm, and joined by prior backers Kleiner Perkins Caufield & Byers, Madrona Venture Group, Top Tier Capital Partners, and Tyche Partners. Total investment in Qumulo stands at $130 million, the company says.
The funding round—which is not a continuation of the $32.5 million Series C round Qumulo raised last summer, but a round unto itself—was oversubscribed, says Jay Wampold, the company’s recently hired vice president of marketing.
“We received inbound interest in funding and we were opportunistic in taking this C Prime round, and with it, have gained quality investors and smart capital with a significant up round valuation,” Wampold says via e-mail.
(Asked to further define “C Prime”—a term I had not encountered before—Wampold says, “We are just not calling it a D round—as that is a round we might look to raise some time in the future. So, “‘C Prime.’”)
Qumulo has highlighted its customers in industries such as life sciences, telecom, media, and entertainment. In the latter category, Qumulo’s technology was used by Crafty Apes, the visual effects company behind “La La Land,” to handle the data requirements of the Oscar-winning film’s 8,000-frame, five-minute opening sequence.
The new funding will be used to expand the company’s sales and marketing into additional industry sectors and geographic markets.
Qumulo was co-founded by former Isilon technical leaders Peter Godman, Aaron Passey, and Neal Fachan, and has filled out its executive ranks with other former Isilon employees, including Mary Godwin, Eric Scollard, Wampold, and Bill Richter, who was named CEO late last year.
Richter was Isilon’s CFO before taking leadership roles within EMC. He was later a venture partner at Madrona.