Tintri taps the money tree for $75m investment

Storage firm secures Series E funding ahead of IPO

Storage vendor Tintri has secured $75m (£45.15m) of venture capital cash in an effort to propel its global growth efforts and imminent IPO.

The California-headquartered firm specialises in virtualisation tech and aims to reduce complexity and costs for mid-sized firms. It officially launched in 2011 and earlier this year announced a new European channel push.

Today the firm announced a deal for $75m of Series E venture capital funding - led by Insight Venture Partners, with participation from existing investors Lightspeed Venture Partners, Menlo Ventures and NEA. The deal takes its running investment total to $135m ahead of an IPO which is expected in the coming quarters.

The firm said the cash injection will speed up its plans to establish a wider customer base.

"The funding will accelerate continued global expansion and technology innovation as well as help the company further scale operations and support its rapidly growing customer base," it said.