Virtual data storage provider Tegile Systems announced that it was able to successfully close its Series C funding round with USD 35 million. The scaling round was led by Meritech Capital Partners. August Capital, Western Digital and SanDisk also continued their support for Tegile Systems. The funds would be used to expand Tegile Systems' technology as well as improve its sales efforts in the European and North American markets. The company would also be using the money to increase its efforts in developing new products and technologies.
As part of the agreement, Meritech Managing Director Paul Madera would be joining the board of directors of Tegile Systems. He said that the hybrid storage provider exhibited the traits that Meritech looks for when they invest in a company. "Like many of the best tech companies we've invested in during the past decade, Tegile has the leadership and the innovative potential to be quite transformative. It is a real privilege to be part of this ready-to-scale funding round and I look forward to participating as a member of Tegile's board," he said.
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