SimpliVity has raised $175 million in a Series D financing that generated a valuation of more than $1 billion for the IT infrastructure company. The investment, led by Waypoint Capital, brings SimpliVity's funding total to $276 million; the company's $58 million Series C valued it at $371 million in late 2013. SimpliVity's data virtualization architecture improves performance, protection and data efficiency, while also enabling global unified management from a single console. The company grew revenues by more than 500% YoY in 2014.
SimpliVity's giant Series D marks the fourth-largest round of VC financing in Massachusetts in the past two years, according to PitchBook's database. It also makes SimpliVity the fifth Massachusetts-based company to join the unicorn club during that span (Moderna Therapeutics, Intarcia Therapeutics, Wayfair and Actifio are the others). From 1Q 2014 to 4Q 2014, the number of venture deals completed in the state decreased each quarter, dropping from 143 to 115; however, capital has continued to flow in and the median valuation (pre-money) steadily increased during the same time period, more than doubling from $13.7 million to $29.1 million.