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Violin Gets $96 Million to Tide It Over Till IPO

The new money reportedly comes from a flock of 126 private investors
By Maureen O'Gara
Article Rating:
February 25, 2013 09:00 AM EST
Reads:
 2,562

Flash storage array start-up Violin Memory is storing up greenbacks.

According to an amended SEC filing made late last week it's gotten $96.3 million out of what may become $130 million in new funding.

All Things Digital reports hearing the financing was done at an implied valuation of $850 million to fund operations ahead of a delayed IPO that was supposed to come off late last year and is now supposedly targeted for early May. Granted that seems an awful lot of money for just a few months.

Violin reportedly filed to go public under that newfangled Jumpstart Our Business Startups Act that lets companies keep their financials hush-hush until close to going public.

As of last April Violin had raised $172 million, money that came from Juniper Networks, Toshiba, SAP Ventures, Highland Capital and GE Capital.

The new money reportedly comes from a flock of 126 private investors.

The Register toys with the idea that maybe Violin is using the money as a hex sign to ward off a would-be acquirer.

Published February 25, 2013 – Reads 2,562
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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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