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Fusion-io secures $45 million in funding

Posted on Wednesday, April 21 2010 @ 00:05:42 CEST by

High-performance flash storage maker Fusion-io has secured another $45 million in funding, bringing the total raised to date to $111.5 million.
The closely held company, based in Salt Lake City, on Monday plans to announce its third funding round–totaling $45 million–that will bring its total raised to date to $111.5 million. Meritech Capital Partners, a new investor, led the round, which has other new contributors that include Accel Partners and Andreessen Horowitz. Computer maker Dell and electronics giant Samsung have are among the investors that have previously put money into Fusion-io.

Samsung’s involvement is not too surprising, since Fusion-io relies heavily on a product the Korean company is known for–flash memory chips, which have long been used to store data in portable devices because they use little electrical power and retain data when electrical current is turned off. More recently, a range of companies have been developing storage modules with flash memory for use in server systems, because fetching data from flash memory is a lot faster than from spinning magnetic disks.
More info at WSJ.



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