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July 18, 2024
PI Global Investments
Private Equity

Nasuni hits $1.2B valuation after private equity backers buy majority share – Blocks and Files


Enterprise data platform provider Nasuni has confirmed a new majority investment led by Vista Equity, and joined by KKR and TCV, that it claims values the company at $1.2 billion.

The investment, we’re told by the biz, will support US-headquartered Nasuni’s global commercial expansion and “accelerate” product innovation. The value of the total investment by the three equity firms was not disclosed.

The Nasuni File Data Platform is built to consolidate, protect, and manage data at scale. Nasuni has agreements with cloud service providers including Google, AWS and Microsoft. It uses edge caches to accelerate IO to object-based storage in the public cloud.

Headquartered in Boston, Massachusetts, Nasuni claims to be hitting a “consistent 30 percent growth rate” in a market that is rapidly expanding since the advent of hybrid clouds and, more recently, AI.

Privately owned Nasuni does not file quarterly numbers, but claimed it surpassed the $100 million ARR milestone in January last year, and since then is believed to have gone past the $130 million ARR mark.

Paul Flanagan, CEO of Nasuni, said: “This investment and our strategic partnership with Vista, TCV, and KKR will allow us to scale with purpose, and continue to innovate as we look to take Nasuni to the next level.”

The data platform is used by more than 850 customers spanning 70 countries, we’re told, with large enterprises in the manufacturing, construction, consumer goods, and energy industries among them. Nasuni’s file recovery tech is designed to protect customers against a range of cyber threats and eliminates the need for specialized backup and disaster recovery, it says, while at the same “cutting the cost of infrastructure by up to 65 percent.”

“Nasuni’s platform offers a highly differentiated approach to consolidating, protecting, and managing data at scale with performance that is critical to supporting AI applications and other high-volume data use-cases,” said Martin Taylor, co-head of Vista’s Foundation Fund and senior managing director.

KKR is making its investment through its Next Generation Technology III Fund.

Following an “upsurge” of business in France, Nasuni says it is bulking up its office with extra hires and more partners in the country.

Nasuni recently rebranded to sharpen its image and messaging, and is working with Microsoft’s GenAI Copilot as part of its product development.



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