Cohesity has successfully raised $70 million over one funding round, achieving a valuation of over $1 billion. The company specializes in AI-powered data security and management solutions, offering a unified platform for data protection, recovery, and ransomware defense.
Keep reading to explore the intricacies of Cohesity's fundraising journey and the investors backing this innovative platform.
What Is Cohesity?
Cohesity, founded by Mohit Aron, is a company that simplifies data protection by eliminating legacy backup silos. Established in 2013, the company is headquartered in San Jose, California.
Specializing in AI-powered data security and management solutions, Cohesity offers a unified platform for data protection, recovery, and ransomware defense. Their services include cloud integration, development and testing, and disaster recovery.
With a workforce of 1001-5000 employees, Cohesity continues to expand its operations globally, providing innovative solutions to modern data management challenges.
How Much Funding Has Cohesity Raised?
- Funding Round:
- Amount Raised: $70,000,000
- Date: June 17, 2015
- Lead Investors: Trinity Ventures, Cisco Investments, GV (Google Ventures), Sequoia Capital, DHVC, Qualcomm Ventures, Foundation Capital
- Motivation Behind the Round: The funding was aimed at supporting Cohesity's mission to consolidate secondary storage systems, thereby improving the efficiency of data centers.
Total Amount Raised: $70,000,000. Current Valuation: Over $1 billion.
Key Investors
- Trinity Ventures
- Details: Trinity Ventures is a venture capital firm that has been investing in early-stage technology companies for over three decades. They are known for their hands-on approach and long-term commitment to their portfolio companies.
- Investment Focus Areas: Software, SaaS, Fintech
- Notable Investments: New Relic, Starbucks, Docker
- Cisco Investments
- Details: Cisco Investments is the corporate venture capital arm of Cisco Systems, focusing on strategic investments in innovative technology companies. They aim to accelerate the development of disruptive technologies that align with Cisco's business interests.
- Investment Focus Areas: Networking, Security, Cloud
- Notable Investments: ThousandEyes, AppDynamics, Cohesity
- GV (Google Ventures)
- Details: GV, formerly known as Google Ventures, is the venture capital investment arm of Alphabet Inc. They provide seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Life Sciences, AI, Robotics
- Notable Investments: Uber, Slack, Nest
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm that has been investing in technology companies since 1972. They have a strong track record of backing companies that have become industry leaders.
- Investment Focus Areas: Internet, Mobile, Enterprise
- Notable Investments: Apple, Google, LinkedIn
- Qualcomm Ventures
- Details: Qualcomm Ventures is the investment arm of Qualcomm Incorporated, focusing on early to late-stage investments in technology companies. They aim to support the development of new technologies that align with Qualcomm's business objectives.
- Investment Focus Areas: Mobile, IoT, AI
- Notable Investments: Zoom, Waze, Fitbit
What's Next for Cohesity?
As Cohesity looks to the future, the opportunity to consolidate secondary storage systems in data centers remains vast. With the increasing need for efficient data storage solutions, the company is well-positioned to capture a significant share of this growing market. The initial $70 million funding underscores investor confidence in Cohesity's potential to enhance data center efficiency through integrated computing and storage systems.
Given the substantial market potential, Cohesity may seek additional rounds of funding to scale its operations and expand its product offerings. However, the company will need to navigate challenges such as competition from established players and technological hurdles in integrating diverse storage systems. Successfully addressing these challenges will be crucial for Cohesity's continued growth and market adoption.
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