MinIO becomes a unicorn after a $103 Million Series B round funding

MinIO becomes a unicorn after a 3 Million Series B round funding

MinIO, the de facto open source standard for multi-cloud storage, took an early bet in the cloud. The bet is paying off.

Back in 2014, the world was a different place. It was the height of the big data era, and the cloud was still hotly debated. Not many people bet that the cloud would come to dominate compute workloads, let alone become the de facto data store.

MinIO founders, however, were not most people — so they took that bet. Coming from a background of distributed file systems, storage, and open source, Anand Babu Periasamy, Garima Kapoor and Harshavardhana invested in creating open source cloud storage software to address the demands of unstructured data growth in the cloud.

Today, MinIO Inc., creators of the MinIO multi-cloud object storage suite, announced that it has raised $103 million in Series B funding at a $1 billion valuation. The investment was led by Intel Capital with participation from new investor SoftBank Vision Fund 2, and existing investors Dell Capital, General Catalyst, and Nexus Venture Partners.

We caught up with Periasamy to discuss MinIO’s journey.

Read the full article on ZDNet

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