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 reported.
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 in 2009. (Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier)