SAN FRANCISCO (Reuters) - Nutanix, which builds data infrastructures for companies, said on Wednesday it raised $140 million in another funding round, which valued the company at $2 billion.
That price tag puts it into an elite group of venture-backed companies with valuations that until recently were largely beyond the reach of startups.
Backing came from Fidelity Investments and Wellington Management, according to a person familiar with the situation, underscoring the increasing eagerness of mutual funds to take stakes in the largest private companies well before potential initial public offerings.
A spokeswoman for Wellington declined to comment. A spokesman for Fidelity did not responded to a request for comment.
Nutanix did not give details of how it came to the $2 billion figure, or what percentage of the company the $140 million represented.
“Our goal was to really build a relationship with institutional buyers,” said Dheeraj Pandey, the Nutanix chief executive officer. “What results out of that is a much bigger IPO,” not just because of the relationships, but because the funding round gives it more time to grow as a private company.
Pandey said he was eyeing an IPO sometime next year, or possibly 2016, depending on market conditions.
The latest investment came a few months after an investment of $101 million from Riverwood, Khosla Ventures, and others in January.
Before the latest round, Nutanix had raised over $170 million from venture firms, including Battery Ventures, Blumberg Capital, SAP Ventures and Lightspeed Venture Partners.
Fidelity and Wellington both invested in transportation service Uber’s recent $1.2 billion funding round, which valued the company at more than $18 billion.
Other startups worth more than $1 billion include payments company Stripe, online home-furnishings company Wayfair and enterprise-data management company Cloudera.
Reporting by Sarah McBride; Editing by Jeffrey Benkoe and Andre Grenon