Nasuni Announces Majority Investment Led by Vista Equity Partners at $1.2 Billion Valuation

Rhea-AI Summary

Nasuni, a leading enterprise data platform, has announced a strategic growth investment led by Vista Equity Partners, alongside TCV and KKR. The new investment values Nasuni at approximately $1.2 billion and aims to accelerate product innovation and global expansion in the hybrid cloud market. Nasuni's CEO, Paul Flanagan, highlighted the company's commitment to quality and innovation. Nasuni has achieved a 30% growth rate, high customer retention, and industry-leading NPS scores. The platform is used by over 850 companies in 70 countries, supporting large enterprises in manufacturing, consumer goods, and energy sectors.

Positive

• Nasuni secured a $1.2 billion valuation from a new investment led by Vista Equity Partners.
• The investment will accelerate product innovation and commercial expansion globally.
• Nasuni has maintained a consistent 30% growth rate.
• High customer retention rates and industry-leading NPS scores.
• Nasuni's platform supports over 850 companies across 70 countries.

Negative

• None.

Financial Analyst

The $1.2 billion valuation led by Vista Equity Partners, along with significant participation from TCV and KKR, reinforces Nasuni's growth trajectory and market potential. This investment is substantial and shows confidence from major private equity players in Nasuni's business model and growth prospects. A consistent 30% growth rate in the hybrid cloud market, coupled with rising demand for AI and data management solutions, makes Nasuni an attractive investment. For retail investors, this move can be seen as a validation of Nasuni's potential but it's also a sign that the company is still in its developmental phase, focusing on scale and innovation. The companies involved in this investment are well-established, indicating a potentially lower risk for future growth, but investors should watch how effectively Nasuni can use the new capital to maintain its growth and innovation pace in a highly competitive market.

Tech Expert

Nasuni is positioning itself as a important player in the hybrid cloud and AI space with its data platform, which is now used by over 850 companies in 70 countries. The hybrid cloud market is expanding rapidly, driven by the need for scalable, secure and efficient data management solutions. By focusing on performance critical to supporting AI applications, Nasuni is addressing a high-demand segment with specific technology needs. The involvement of Vista, TCV and KKR highlights the potential for Nasuni to innovate further and stay competitive. For investors, the platform's scalability and security features are significant as these aspects are pivotal in enterprise technology adoption. The strategic backing by these firms may enable Nasuni to accelerate its R&D and expand its market reach, thereby increasing its market share and technological edge.

Market Research Analyst

Nasuni's strong market position is underscored by its top decile customer retention rates and industry-leading Net Promoter Scores (NPS). These metrics suggest a high level of customer satisfaction and loyalty, which are critical in the competitive IT services market. The projected growth in the hybrid cloud sector due to the rise of AI and other data-intensive applications aligns well with Nasuni's strategic direction. For retail investors, it’s worth noting that the combination of high customer satisfaction and continuous growth can lead to sustainable revenue streams. However, the market is highly competitive and the success of this investment will depend on Nasuni's ability to capitalize on the expanding market while fending off competition. The backing by well-known investment firms should provide the necessary support to navigate these challenges.

TCV and KKR also Participate as New Investors

BOSTON, July 9, 2024 /PRNewswire/ -- Nasuni, a leading enterprise data platform for modern hybrid cloud environments, today announced a strategic growth investment led by Vista Equity Partners, a global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses. Vista will be joined by TCV and KKR in the new investment, which values Nasuni at approximately $1.2 billion.

The investment will build on Nasuni's strong momentum disrupting the legacy storage industry to further accelerate product innovation and commercial expansion in the global hybrid cloud market. Further terms of the transaction were not disclosed.

"At Nasuni, we care first and foremost about the success of our customers, partners, and employees," said Paul Flanagan, CEO of Nasuni. "We are maniacal about our commitment to delivering quality in every aspect of our business and interaction with our customers. This investment and our strategic partnership with Vista, TCV, and KKR will allow us to build upon that commitment, scale with purpose and continue to innovate as we look to take Nasuni to the next level."

Nasuni's success to-date includes award winning technology, top decile customer retention rates, industry leading NPS scores, and a consistent 30% growth rate in a market that is rapidly expanding with the advent of hybrid cloud and AI. Nasuni's data platform is used by over 850 companies spanning 70 countries, and is in use by some of the largest enterprises in the manufacturing, consumer goods, and energy industries.

"Nasuni's platform offers a highly differentiated approach to consolidating, protecting, and managing data at scale with performance that is critical to supporting AI applications and other high-volume data use-cases," said Martin Taylor, Co-Head of Vista's Foundation Fund and Senior Managing Director. "We are thrilled to partner with the Nasuni team as they work to help businesses optimize their expanding and complex data needs with solutions that are fast, secure, and highly cost-effective."

BofA Securities served as the exclusive financial advisor and Goodwin Proctor LLP served as legal advisor to Nasuni. Kirkland & Ellis LLP served as legal counsel to Vista and TCV. KKR is making the investment through its Next Generation Technology III Fund.

About Nasuni

Nasuni is a scalable data platform for enterprises facing an explosion of unstructured data in an AI world.

The Nasuni File Data Platform delivers effortless scale in hybrid cloud environments, enables control at the network edge, and meets the modern enterprise expectation for insight- and AI-ready data. It simplifies file data management while increasing storage access and performance. Its best-in-class file recovery protects customers against a range of cyber threats and eliminates the need for specialized backup and disaster recovery – all while cutting the cost of infrastructure by up to 65%. 

Organizations worldwide rely on Nasuni, spanning across the manufacturing, construction, energy, consumer goods, and public sectors. Nasuni's corporate headquarters is in Boston, Massachusetts, and the company delivers services to over 70 countries. For more information, visit www.nasuni.com.

About Vista Equity Partners

Vista is a leading global investment firm with more than $100 billion in assets under management as of December 31, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on X, @Vista_Equity.

About TCV

For nearly thirty years, TCV has partnered with global, category-defining, technology companies as a leading growth equity investor. Leveraging its deep industry expertise and strategic resources, TCV's mission is to provide long-term capital and support to high-quality management teams across their growth journey. Since its founding in 1995, TCV has invested over $20 billion in more than 350 technology companies worldwide and has supported over 150 IPOs and strategic acquisitions, making it one of the most active technology investors. Select investments include Airbnb, AxiomSL, Built, CCC Intelligent Solutions, Celonis, Clio, Cradlepoint, ETQ, ExactTarget, Expedia, Facebook, Fandango, Genesys Software, GoDaddy, GoFundMe, HomeAway, Miro, Netflix, Nubank, OneSourceVirtual, Prodege, Qonto, Relex, Revolut, SilverPeak, Splunk, Sportradar, Spotify, Toast, Twillio, and Zillow. TCV has a global presence in Menlo Park, New York, London and Melbourne. For more information on TCV and its investments, visit tcv.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing worldclass people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.

Media Contacts

Nasuni
Kristin Concannon
kconcannon@nasuni.com
617-416-2873

Vista Equity Partners
Brian W. Steel
media@vistaequitypartners.com
212-804-9170

TCV
marketing@tcv.com

KKR
Liidia Liuksila
media@kkr.com

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SOURCE Nasuni

FAQ

What is the recent valuation of Nasuni after the investment?

Nasuni's recent valuation is approximately $1.2 billion following the investment.

Which firms participated in Nasuni's latest investment round?

The firms participating in Nasuni's latest investment round are Vista Equity Partners, TCV, and KKR.

How will the new investment impact Nasuni's growth?

The new investment is expected to accelerate Nasuni's product innovation and global commercial expansion.

What is Nasuni's current growth rate?

Nasuni has maintained a consistent growth rate of 30%.

Which industries does Nasuni's platform support?

Nasuni's platform supports the manufacturing, consumer goods, and energy industries.

How many companies use Nasuni's platform?

Over 850 companies across 70 countries use Nasuni's platform.

What is KKR's role in Nasuni's latest investment round?

KKR is participating as a new investor in Nasuni's latest investment round through its Next Generation Technology III Fund.