Flash technology specialist raises $40million
Californian SSD firm Violin Memory has raised $40million in a third round of funding, bringing the total raised by the company to more than $105m. The new capital will be used to ramp up product development and global expansion in Europe and Asia.
Company ceo, Don Basile (pictured) described the investment as the first step towards building a billion dollar company. "Our new capital will allow us to speed up product development and global expansion in Europe and Asia to surpass $100m in revenue this year," he said. "This pace of revenue growth will continue to make Violin the fastest growing storage company in the last decade."
Founded in 2005, the company is one of many competing in the flash technology industry. Its memory arrays, claimed to be the fastest and most scalable in the world, incorporate Violin's patent pending Flash vRAID technology and have been employed by AOL, HP and Microsoft.
