April 23 Flash storage company Pure Storage Inc
raised $225 million in a late-stage funding round, valuing the
company at about $3 billion, technology news site Re/code
The latest funding round is being led by previous
institutional investors, including investment firm T. Rowe Price
and private equity firm Tiger Global, and a new investor
Wellington Management, Re/code said.
The deal is expected to be announced on Wednesday. (r.reuters.com/cub78v)
Pure Storage does not plan to go public any time soon. "We
don't want to go public before we're ready, and we have the
luxury of being able to choose when that happens," Re/code
quoted CEO Scott Dietzen as saying.
Pure Storage and Wellington Management were not immediately
available for comment outside regular U.S. business hours.
The Mountain View, California-based company, which competes
with industry heavyweight EMC Corp, has raised a total
of $470 million, including the latest amount, since its founding
(Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar