Cohesity’s Series C and the Rising Tide of Platform Disruption
Author: Quinn Li, Vice President and Global Head, Qualcomm Ventures
Tech journalists, our colleagues in venture capital, and budding entrepreneurs always have the same question for us — “which sectors are you most excited about?” Our answers include the areas they expect, like IoT, robotics, or auto. But they’re surprised to hear us include the cloud platform space — databases, IaaS/PaaS, storage, etc.
Platforms may not feature the same “disruption” appeal as products like robotics or autos might, but they’re among the most innovative because of the massive demand-driven opportunity that exists, inspiring a host of creative, elegant solutions. And this demand has led to a host of innovative businesses which Qualcomm Ventures, the investment arm of Qualcomm Incorporated, is proud to support.
Today is the latest example of that. Cohesity is announcing $90 million in Series C funding. Our partners in the round include GV (formerly Google Ventures), Sequoia Capital, Cisco, Hewlett Packard Enterprise (HPE) and many, many more. We’re excited to help guide Cohesity forward!
Cohesity is the pioneer of hyperconverged secondary storage, a groundbreaking approach to how organizations manage their infrastructure workloads. The platform allows organizations to consolidate a wide range of secondary storage workloads, like backups, test/dev, analytics and file services, and easily manage them. Easier platform management for the IT team means drastically reduced total cost of ownership for the org’s tech infrastructure.
I don’t want to undersell that last part because reduced infrastructure costs are incredibly important to driving innovation across platforms. Cohesity does more than just outfit enterprises with clever software that helps them save a few dollars — it helps them shave entire line items off their CapEx statements.
The reason those savings are so immense (and the reason that Cohesity is so invaluable to the ecosystem) is because of the influx of big data and analytics at companies across the world (Bill Coughran, Sequoia Capital partner and Cohesity board member, calls it a “data tsunami”). Companies know the value of data analytics, and across virtually every industry, we’re seeing more and more examples of how unlocking key insights can drive an entire business strategy. We’re also seeing CFOs grow increasingly pressured as more and more money gets allocated into data infrastructure and tools required to uncover the insights. That’s why Cohesity’s elegant innovation has been so resoundingly successful, and why it warranted such a hefty Series C — it’s solving a problem for the IT team and the finance team. And its visionary approach to problem solving with innovation matches the Qualcomm Ventures’ vision.
We’re proud to be working with Cohesity and excited for the team’s future!
Quinn Li is Vice President & Global Head of Qualcomm Ventures. In this role, Quinn oversees Qualcomm’s $1 billion strategic venture investment portfolio of over 140 investments. He currently serves as a board member or observer in AMEC, Brain Corp, Enovix, OneWeb, Placemeter, RetailNext, Streetline, Tango, and Verve Wireless. Learn more about Quinn: https://www.qualcommventures.com/team/quinn-li