Tech Deal: Delphix Picks Up $75M for DaaS Development
Delphix's DaaS platform enables enterprises to find and use data trapped in heavyweight legacy infrastructure and databases.Delphix, the database virtualizer which has pivoted to becoming an early entrant into the nascent DaaS market (data-as-a-service, not be confused with desktop-as-a-service), has reeled in a $75 million funding influx led by Fidelity Management and Research Company. Additional investors include Credit Suisse NEXT Investors, LLC, a fund managed within Credit Suisse Asset Management, The Kraft Group, and existing investors, including Greylock Partners, Lightspeed Venture Partners, and Icon Ventures. The additional funding, announced July 13, will enable Delphix to scale sales, marketing, and operations across global geographies and boost its marketshare in DaaS, a transformative market of IT products and services that accelerate application releases and cloud migrations. Delphix's DaaS platform enables enterprises to find and use data trapped in heavyweight legacy infrastructure and databases. The company claims that with its virtualization methodology, masking, and self-service delivery technologies, that it can deliver data faster than traditional methods while consuming less infrastructure.
"Applications have become a highly contested battleground for businesses across all industries," CEO and founder Jedidiah Yueh said. "Data as a service helps our customers complete application releases and cloud migrations in half the time, by making data fast, light, and unbreakable—a huge competitive advantage."