IBJNews

Scale Computing scores $17M in venture capital

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis data-storage firm Scale Computing on Tuesday announced it has landed $17 million from a California venture fund to help fuel its expansion plans.

Scale, based at Purdue University’s technology park just south of Indianapolis International Airport, expects to triple its work force during the next three years, it said. The company currently has about 60 employees.

The latest funding round was led by Silicon Valley venture firm Scale Venture Partners and included two other California venture funds, Benchmark Capital and Northgate Capital.

Scale Computing has raised more than $31 million in venture capital since its founding in 2008, including a $9 million investment from Benchmark Capital in March.

In its initial fundraising, Scale Computing scored nearly $6 million from locally based VC firms such as CID Capital and Blue Chip Venture Co.

The latest funding will be used to increase Scale Computing’s market share, drive international expansion and product development, and fund job growth, the company said in a press release.

“This round of funding, coupled with the support of our investors, will help us increase our global footprint and really hone in on increasing our market share in the $7.7 billion [small and medium-size business] storage space,” Scale Computing CEO and co-founder Jeff Ready said in a written statement.

With the funding, Rob Theis, managing director of Scale Venture Partners, will join Scale Computing’s board.

In 2009, Forbes ranked Scale Computing No. 16 among the fastest-growing young companies in the nation. The firm surpassed 100 customers earlier this year and could reach $8 million in revenue.

Scale Computing was founded in the San Francisco suburb of San Carlos, Calif. Ready, a Hoosier native and a Rose-Hulman Institute of Technology grad, moved the company to Indiana last year with the help of a $2 million grant from the Indiana 21st Century Research and Technology Fund.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

ADVERTISEMENT