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Qumulo raised $125 million, doubling its valuation to $1.2 billion - Business Insider

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Data storage startup Qumulo just raised $125 million and doubled its valuation to $1.2 billion, and the CEO says it shows how investors are betting big on digital transformation amid the pandemic

Seattle-based Qumulo raised $125 million in a funding round led by BlackRock, more than doubling its valuation to $1.2 billion.

Qumulo, led by former EMC executive Bill Richter, helps customers create, manage, and store files inside their own data centers and in the cloud. The need for Qumulo's file data platform boomed when companies and organizations suddenly had to figure out how to operate remotely. Richter, the CEO, is known for helping to sell the last data storage startup where he was an executive, Isilon Systems, to EMC for $2.25 billion in 2010.

 

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