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Data storage startup Qumulo just raised $125 million and doubled its valuation to $1.2 billion, and the CEO says it shows how investors are betting big on digital transformation amid the pandemic

20 days ago   |   By Business Insider

Seattle-based Qumulo raised $125 million in a funding round led by BlackRock, more than doubling its valuation to $1.2 billion.
CEO Bill Richter said the company was able to raise the money because it was at the intersection of two big trends in the pandemic - first making content and business processes digital, and second, the shift to the public cloud.
Investors have predicted funding will be harder to come by for startups over the next year, but startups within the enterprise technology industry are expected to be insulated, particularly those making remote work possible.
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