Cohesity doubles in value to $2.5 billion in less than two years

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Cohesity has raised $250 million in Series E funding, led by DFJ Growth, Foundation Capital, Greenspring Associates, and Wing Venture Capital. 

DFJ Growth and Greenspring Associates are new investors as are Baillie Gifford and Sozo Ventures.

The funding round also includes broad support from existing investors, including Sequoia Capital and SoftBank Vision Fund 1, as well as strategic investors Hewlett Packard Enterprise and Cisco Investments.

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Cohesity is now valued at $2.5 billion, more than double the valuation from the company’s Series D round less than two years ago. With the new funding, Cohesity’s total funding since inception exceeds $650 million.

This funding recognises the traction Cohesity is seeing in the market as a disruptive, software-defined data management company. Cohesity simplifies the way businesses back up, manage, protect, and extract value from their data — in the data centre, at the edge, and in the cloud.

“Closing a major funding round during these times of economic uncertainty is testament to the promise that our investors see in Cohesity,” said Mohit Aron, CEO and founder, Cohesity. 

“More enterprises globally are abandoning legacy offerings in favor of our modern, software-defined approach to data management that is incredibly simple to use — critical during these challenging times as customers are looking to reduce total cost of ownership while enabling remote IT teams,” he said.

“Cohesity is reinventing data management with extraordinary solutions and a vision for the future that is unlike any other company in the market today,” said Randy Glein, co-founder and partner, DFJ Growth. “Cohesity has successfully transitioned to a software business model, secured outstanding partners globally, built deep OEM relationships with top technology companies, and is managing data for some of the largest enterprises in the world.”

The company will leverage the new investment to advance research and development — building new capabilities to serve some of the largest enterprises in the world. Cohesity will also continue to broaden its reach and awareness both domestically and internationally, while extending its relationships with alliances and partners.

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