Data Storage Software Company Nexenta Systems Raises $24M

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Data storage software company Nexenta has raised $24 million in Series D financing led by new investor Four Rivers Group, with participation by existing investors Menlo Ventures, TransLink Capital, Javelin Ventures, Sierra Ventures, Razor’s Edge, and West Summit Capital.

In addition to Four Rivers, new strategic investors Presidio Ventures and UMC Capital participated. The company also announced the appointment of Mark Lockareff as chief executive officer, with former CEO Evan Powell assuming the new role of chief strategy officer.

Nexenta’s data storage software, NexentaStor, offers scalable, cloud-and virtualization-optimized storage solutions for enterprise. Total storage under management exceeds 660PB and Nexenta has enabled an estimated $400 million in hardware storage sales for its reseller partners. In the past year, the number of Nexenta-powered storage deployments of one petabyte or greater grew to 33.

The company also revealed that revenue doubled year-over-year; and Nexenta has experienced triple digit growth for three consecutive years. And Nexenta now has 5,000 customer deployments.