FORTUNE -- Tintri chief executive Ken Klein calls his company's signature offering "smart storage." The intelligence comes from its ability to sense and adapt to how virtualized applications are using it -- reducing the traffic jams caused by increasing use of a business technology that, through the use of "virtual machines," more efficiently uses the physical computers on which a business runs.
For many businesses, it's a big deal. Today, virtual machines are tasked with running large-scale private clouds, critical databases, enterprise applications, and environments that host tens of thousands of desktop computers and mobile devices. Financial services firms, sports and entertainment giants, health care chains, life sciences companies, manufacturers, and retailers all use this technology to keep things up and running. When those processes grind to a halt, so does their business.
Klein likens the traffic jams to an "I/O blender," using the computing term for input/output. "They know they have a problem, but they don't know where to go," he says excitedly.
Thursday morning, Tintri announced that it raised $75 million in a "very oversubscribed" Series E funding round led by Insight Venture Partners. Lightspeed Venture, Menlo Ventures, and NEA also participated. The round brings the company's total capital raised to $135 million and values the company at more than $600 million. It's also the last major round before the company plans an IPO in 2015.
"The market size is massive. It's a multibillion-dollar opportunity," says Alex Crisses, a managing director at Insight Venture Partners. "The reality is over the next three to five years, like it or not, the standard will be a hybrid or largely virtualized environment. So the question is, what do you do to maximize efficiency in that environment?"
He adds: "It's like the gold rush. We're not selling the gold -- that's VMware -- but we're selling picks and shovels. Everybody's going to be virtualized, at least everyone with cutting edge infrastructure. It's a huge priority for everyone at the C-level. Anybody who's managing an organization, the conversation is starting today."
Tintri is the anglicized version of a Gaelic term that means "of lightning," coined by co-founder and CTO Kieran Harty. Since its founding in 2008, it has grown rapidly and closed 2013 with twice as many enterprise customers that it began the year with. Some of them are quite large, including General Electric (GE), MillerCoors, George Washington University, Kawasaki and AMD (AMD).
The company plans to use its new funds just as swiftly, Klein says: For growing a larger sales force, for signing on more channel partners, for making larger deployments of its products, for reaching into the Asia-Pacific region, where it has a weaker footprint.
It's a tremendous undertaking -- not that Klein is worried about demand for his company's services. "If Apple would have designed an appliance for the enterprise," he says with a glint in his eye, "it would have designed Tintri."
Before Microsoft selected him as its third-ever chief executive, Satya Nadella showed traits that would catapult him into the company's leading role.
FORTUNE -- The first thing a visitor from Silicon Valley notices in Building 35 on the Microsoft campus in Redmond, Wash. -- until today the domain of new CEO Satya Nadella -- is the silence. This is the stodgy, old Microsoft (MSFT), a warren of offices with doors that MOREAdam Lashinsky, Sr. Editor at Large - Feb 4, 2014 3:09 PM ET
After IBM again misses most expectations for its quarterly earnings, its chief executive makes a concession of her own: her compensation.
FORTUNE -- IBM (IBM) chief executive Virginia "Ginni" Rometty is passing up her annual bonus.
It's a rare move for any tech CEO, and it signals that Rometty knows she's got trouble on her hands. She made the announcement Tuesday as the company missed Wall Street's expectations yet again for its MOREJessi Hempel, writer - Jan 21, 2014 4:39 PM ET
Despite posting positive quarterly earnings, the enterprise technology company is viewed as a laggard.
FORTUNE -- Oracle had some positive pre-holiday news for investors this week. The database giant's second-quarter results came in higher than expected, with revenue rising 2% to $9.28 billion, and net income declining about 1% to $2.55 billion.
Yes, that was good news. The quarterly numbers sent Oracle (ORCL) shares up more than 6%, the highest in years.
But MOREMichal Lev-Ram, writer - Dec 20, 2013 12:46 PM ET
Yahoo admits that its Mail service was (and will be) unavailable for some people for 40 hours. Unacceptable? Sure. By how much, though?
FORTUNE -- Is it unacceptable for your e-mail to be inaccessible for one minute? How about 40? What about an hour? Forty hours?
That's about the time that Yahoo (YHOO) expects some of its Mail customers to be without access to the service after a hardware problem in one of MOREAndrew Nusca - Dec 11, 2013 5:29 PM ET
Not much. Still, the actor brings star power to a dense enterprise technology subject.
By Michal Lev-Ram, writer
FORTUNE -- What was Alec Baldwin doing at a cloud computing conference in San Francisco?
Delighting fans (and getting paid to do so) in an effort to smooth over his most recent public relations flap in which the 30 Rock actor was accused of yelling a gay slur at a photographer. Baldwin disputes the account, MOREMichal Lev-Ram, writer - Nov 21, 2013 3:44 PM ET
We report from the company's annual Dreamforce conference in San Francisco.
By Michal Lev-Ram, writer
FORTUNE—Salesforce.com (CRM) CEO Marc Benioff knows how to put on a good show. On Tuesday morning, the outspoken executive kicked off his company's annual Dreamforce conference in San Francisco with a nearly three-hour-long keynote that featured music performances from Huey Lewis and the News plus appearances by actor Sean Penn, supermodel Petra Nemcova and Haitian prime MOREMichal Lev-Ram, writer - Nov 20, 2013 5:10 PM ET
We sit down with chief executive (and one-time "Peanut Butter Manifesto" author) Brad Garlinghouse.
FORTUNE—Hightail, the file-sharing company formerly known as YouSendIt, has raised $34 million in new funding. The nine-year-old startup has been around much longer than newer entrants like Dropbox or Box, but recently it sought to revamp its image and differentiate its product features in order to stand out in an increasingly competitive market in which larger companies MOREMichal Lev-Ram, writer - Nov 19, 2013 11:59 AM ET
Big Blue gives third-party developers a crack at its cognitive crown jewel.
FORTUNE -- It has been two years since IBM's latest supercomputer, Watson, beat lowly humans on a special episode of Jeopardy!. Since then, the so-called cognitive system has expanded its vocabulary and expertise, developing into a fledgling yet promising commercial business for the tech giant.
The company has already piloted Watson-based applications in health care and customer service with a handful of MOREMichal Lev-Ram, writer - Nov 14, 2013 11:28 AM ET
Ahead of the Oracle Open World developers' conference, co-president Mark Hurd spoke to Fortune about the software giant's shift to the cloud, and what else is next.
FORTUNE -- Mark Hurd has been co-president of mega-cap technology company Oracle for three years now, having joined shortly after his dramatic exit as CEO of Hewlett-Packard. Hurd's dramas these days are the more typical business type: Oracle's coming to grips that it is MOREAdam Lashinsky, Sr. Editor at Large - Sep 23, 2013 10:41 AM ET
|Five predictions for the World Wide Web that were way, way, way off|
|Why casino workers hate Obamacare|
|Social Security is the best deal|
|The Deep Web you don't know about|
|House panel to investigate GM response to problem linked to 13 deaths|