Nasuni Raises $38 Million from Goldman Sachs Growth Equity

Nasuni, a Boston-based provider of cloud-scale enterprise file services, has raised $38 million in a fundraising round led by Goldman Sachs Growth Equity (GS Growth), a platform within Goldman’s Merchant Banking Division.

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The extra capital brings the eight-year-old startup’s total raised to about $120 million, as the company plans to boost its research and development, customer success and go-to-market efforts. Nasuni’s software is used to store its customers’ files in the cloud, with partners such as Amazon Web Services and Microsoft Azure, as well as keep copies of active files cached to a local storage system for quick and secure access.

Last year, Nasuni landed $25 million in a combination of equity and debt financing. While the startup was waiting until later in 2017 or as late as next year to raise new funds, president Paul Flanagan suggests management changed its mind after the business continued to gain momentum and add talent to its team. Flanagan, a previous investor in Nasuni while working at Sigma Prime Venture and Sigma Partners, is one of the most recent hires. He says the tech firm has “no plans for an IPO at the current time.”

The company claims to have approximately doubled its revenues for the past four consecutive years, and expects to continue the trend this year. The firm lists hundreds of customers including Caterpillar and Siemens and will head off against cloud storage and disaster recovery rivals including Carbonite, Datto, Dell EMC and Quantum.