SolidFire received a US$31 million funding from Korean tech giant Samsung Electronics today. The placement was made through the company's investment arm, Samsung Venture Investment Corporation.
The Series C funding was also joined by several other investors such as Valhalla Partners and Novak Biddle Venture Partners. Including this latest round of fundraising, SolidFire has successfully gathered over US$68 million worth of investments.
Independently, the company decided to source their SSDs from Samsung, according to SolidFire's vice president for marketing Jay Prassl. SSDs, or solid state drives, are a kind of storage device which uses integrated circuit assemblies as memory for persistent storage.
"It will have no impact on anybody else in the system, and we will be able to charge you more accordingly for it," said Prassl, talking about the ability of the company's capability to service its clients.
According to analysts, the Samsung backing was a major step in the company's future ventures. They said the SolidFire gained access to a rapidly growing flash market.
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