Cohesity Revenue, Valuation, Funding & Investors
Cohesity is valued at $8B as of April 2025. Cohesity revenue was $1.7B and Cohesity EBITDA was $476M, as disclosed with its December 2024 round.
Last Cohesity valuation
$8B
Secondary · Apr 2025
Last Cohesity funding round
$1B
Series H · Dec 2024
Cohesity revenue
$1.7B
Series H · Dec 2024
Key investors in Cohesity
Wing Venture Capital
Sequoia Capital
Battery Ventures
Foundation Capital
Qualcomm Ventures
Trinity Ventures
About Cohesity
Cohesity is a data security and management software company headquartered in San Jose, California. It was founded in June 2013 by Mohit Aron, who had earlier co-founded Nutanix and helped introduce hyperconverged infrastructure. The company began by converging secondary storage workloads such as backup, file shares, test and development, and analytics onto one scale-out platform, and later moved to a software and subscription model that runs on premises, at the edge and across public clouds. Its products cover data protection and backup, recovery, cyber resilience, threat detection and data classification, sold to enterprises and public bodies directly and through channel partners and service providers. In 2024 it combined with the enterprise data protection business of Veritas, which added the NetBackup and Alta products. Revenue comes mainly from software subscriptions and support.
Founded
2013
HQ
San Jose, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$1.7B (Dec 2024)
Valuation
$8B (Apr 2025)
Cohesity Valuation
Cohesity is currently valued at $8B, based on its secondary sale in April 2025. Read the announcement ↗
Cohesity's valuation has grown 16x from $500M at its Series C in April 2017 to $8B in April 2025, across 6 priced rounds.
Cohesity valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2025 | Secondary | $8B | - |
| Dec 2024 | Series H | $7B | 4.1x |
| Mar 2021 | Secondary | $3.7B | - |
| Apr 2020 | Series E | $2.5B | - |
| Jun 2018 | Series D | $1B | - |
| Apr 2017 | Series C | $500M | - |
Cohesity Revenue
Cohesity's latest recorded revenue is $1.7B, as of its Series H in December 2024. At a $7B valuation, that implies a 4.1x revenue multiple.
Cohesity revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2024 | $1.7B | $7B | 4.1x | Series H |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Cohesity Funding History
Cohesity has raised a total of $1.8B across 8 funding rounds, plus 2 secondary share sales.
Cohesity's first fundraising round was a $15M Series A in November 2013. The most recent completed round was a $1B Series H in December 2024.
Cohesity funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2025 | Secondary | - | - | $8B | In April 2025 Cohesity completed an employee tender offer of about USD 250 million at USD 17.00 per share, valuing the company at USD 8 billion. The Information had reported in February 2025 that Cohesity planned the employee share sale at that valuation, and secondary-market data provider Caplight dates the tender to 28 April 2025. The price compares with a USD 7 billion valuation placed on the combined company when its Series H closed in December 2024 and USD 3.7 billion at the March 2021 tender. The buyers of the shares were not named in the coverage. Chief executive Sanjay Poonen has since said the company is targeting a possible public listing in 2026. Cohesity was founded in 2013 by Mohit Aron, is based in San Jose, California, and sells data protection, cyber resilience and data security software. |
| Dec 2024 | Series H | Haveli Investments (lead); Dragon Fund; Premji Invest; Sapphire Ventures; Coatue; Madrona | $1B | $7B | On 10 December 2024 Cohesity completed its combination with the enterprise data protection business of Veritas (NetBackup and Alta), funded by a Series H equity round led by Haveli Investments. Coatue, Sapphire Ventures and Dragon Fund were named as key investors, and existing backers including Premji Invest and Madrona supported the transaction. Reuters, as cited in later coverage, reported that Cohesity raised about USD 1 billion of equity and about USD 2 billion of debt, the debt being a term loan B arranged by JPMorgan; the company did not disclose the equity amount itself. The transaction valued the combined company at more than USD 7 billion, and Carlyle, Veritas owner, became one of its largest shareholders. Cohesity stated that the enlarged group serves more than 12,000 customers and crossed USD 1.5 billion of annual recurring revenue. The company was founded in 2013 by Mohit Aron, is based in San Jose, California, and sells data protection, security and management software that runs on premises and in public clouds. |
| Apr 2024 | Series F | NVIDIA; IBM | $150M | - | Cohesity, a data security and management platform provider, completed a $150 million Series F funding round in April 2024 with strategic investments from IBM and NVIDIA, bringing total funding to approximately $850-955 million across eight rounds. The funding supports enhanced cyber resilience across hybrid cloud environments, including IBM's integration of Cohesity DataProtect into its Storage Defender platform and deepened NVIDIA collaboration on generative AI via NVIDIA AI Enterprise and NIM microservices in Cohesity Gaia. This follows NVIDIA's prior investment announced in March 2024. The Series F announcement coincides with Cohesity's February 2024 agreement to acquire Veritas' NetBackup and Alta data protection businesses in a $3 billion deal, unanimously approved by both boards and expected to close by end-2024 pending regulatory approvals. Post-combination, the entity is valued at approximately $7 billion and positions Cohesity to capture share in a $30-40+ billion total addressable market for data protection, replication, and management software, becoming the world's largest data protection software provider with expanded workload support, sales presence, and global network from Veritas. Existing marquee investors including SoftBank Vision Fund, Sequoia Capital, Wing Venture Capital, Premji Invest, and others like HPE, Cisco, Amazon, Google, and Qualcomm continue support. Veritas shareholders, led by Carlyle, will become Cohesity shareholders post-close. Funds will accelerate R&D for cyber resilience against ransomware and breaches. Prior Series E in 2020 raised $250 million at $2.5 billion valuation, with $3.7 billion noted in early 2021. |
| Mar 2021 | Secondary | Steadfast Capital Management (lead); Premji Invest; DFJ Growth; Manhattan Venture Partners (MVP); Foundation Capital; Olive Technology Ventures; Wing Venture Capital | $145M | $3.7B | Cohesity is a modern multicloud data management company providing backup, recovery, and data protection solutions. In March 2021, it completed a $145 million non-dilutive tender offer led by Steadfast Capital Management, with participation from DFJ Growth, Foundation Capital, Manhattan Venture Partners, Olive Technology Ventures, Premji Invest, and Wing Venture Capital, establishing a company valuation of $3.7 billion, up $1.2 billion from the prior year. This secondary market transaction provided liquidity to employees by purchasing a portion of their equity. The tender offer highlighted Cohesity's rapid growth, with annual recurring revenues increasing nearly 90% year-over-year, driven by a threefold rise in high-value customers spending $5 million or more and a 30% net expansion in ARR from existing users. Prior to this, Cohesity had raised $250 million in its Series E round in April 2020 at a $2.5 billion valuation and $250 million in Series D in June 2018. The company, founded in 2013 and based in San Jose, continued to emphasize cloud-focused SaaS products amid strong market demand for data management. |
| Oct 2020 | Strategic investment | Amazon | - | - | Amazon made an equity investment in Cohesity that was disclosed on 14 October 2020, alongside the announcement of a strategic collaboration with Amazon Web Services to deliver data management as a service. The amount and stake were not disclosed. Under the collaboration Cohesity and the AWS Partner Network committed resources to design the service on AWS and to run joint go-to-market activities, and AWS became Cohesity's preferred cloud provider for the offering. The service was to be built on Cohesity Helios, the company's SaaS-based data platform, which served more than 1,500 customers at the time. A Cohesity executive said the two companies had worked together for 18 months to develop its DataProtect product into a SaaS offering, and industry analysts noted the investment gave Amazon a financial interest without implying an acquisition. The investment followed Cohesity's USD 250 million Series E round in April 2020. Cohesity was founded in 2013 by Mohit Aron, is based in San Jose, California, and sells data protection and data management software. |
| Apr 2020 | Series E | DFJ Growth (lead); Foundation Capital (lead); Greenspring Associates (lead); Wing Venture Capital (lead); Sozo Ventures; Baillie Gifford; SoftBank Group; Cisco Investments; Hewlett Packard Enterprise; Sequoia Capital | $250M | $2.5B | Cohesity, a San Jose-based data management software provider, raised $250 million in a Series E funding round on April 9, 2020, led by DFJ Growth, Foundation Capital, Greenspring Associates, and Wing Venture Capital, with participation from existing investors like Sequoia Capital and SoftBank Vision Fund 1, as well as strategic investors Hewlett Packard Enterprise and Cisco Investments. The round brought total funding to over $650 million and valued the company at $2.5 billion post-money, more than double its previous Series D valuation from mid-2018. Cohesity's platform consolidates secondary storage silos for backups, file shares, object stores, test/dev, and analytics into a hyperconverged, software-defined solution that spans data centers, edge, and public clouds, supporting hypervisors like VMware and Nutanix, databases such as Oracle and SAP HANA, and integrations with AWS, Google Cloud, and Azure. The funding came amid Cohesity's transition to a pure software business model, with strong traction evidenced by a 150% year-over-year increase in recurring revenue, 100% growth in customers and data under management, and 135% rise in cloud capability licenses during the first half of FY 2020 (August 2019-January 2020) compared to the prior year. CEO Mohit Aron highlighted the round's timing during economic uncertainty as validation of investor confidence in Cohesity's simple, modern approach to reducing total cost of ownership for remote IT teams. Proceeds will fund R&D for new enterprise capabilities, market expansion, and partner alliances. Cohesity operates in the competitive secondary storage and data protection market, positioning against players like Veeam (recently acquired by Insight Partners for $5 billion) and Rubrik, both expanding globally. The round underscores demand for hybrid cloud data management amid COVID-19-driven remote work and digitization trends, with analysts like IDC's Phil Goodwin noting the platform's value to customers and partners. |
| Jun 2018 | Series D | SoftBank Group (lead); Qualcomm Ventures; N47; Battery Ventures; Cisco Investments; Artis Ventures; Hewlett Packard Enterprise; Sequoia Capital; Morgan Stanley; Manhattan Venture Partners (MVP); Innovating Capital; Trinity Ventures; Wing Venture Capital; The Syndicate Group | $250M | $1B | Cohesity announced on 11 June 2018 an oversubscribed USD 250 million Series D round led by the SoftBank Vision Fund, bringing total equity raised to USD 410 million. Strategic investors Cisco Investments, Hewlett Packard Enterprise and Morgan Stanley Expansion Capital took part alongside early investor Sequoia Capital, with Artis Ventures, Battery Ventures, Trinity Ventures and Wing Venture Capital also named among the backers. Recode had reported that the round would value Cohesity at about USD 900 million pre-money, against more than USD 500 million at the April 2017 Series C. Cohesity said the proceeds would fund large-scale global expansion and use the sales reach of Cisco and HPE to win more enterprises. It reported more than 200 new enterprise customers in the prior two quarters and annual revenue growth of 600 percent between 2016 and 2017. The company was founded in 2013 by Mohit Aron, a Nutanix co-founder, is based in San Jose, California, and sells a hyperconverged platform that consolidates backup, file shares, test and development and analytics data. |
| Apr 2017 | Series C | GV (lead); Sequoia Capital (lead); Qualcomm Ventures; Battery Ventures; Cisco Investments; Artis Ventures; Hewlett Packard Enterprise; DHVC; Foundation Capital; Accel; Trinity Ventures; Wing Venture Capital | $90M | $500M | Cohesity, a pioneer in hyperconverged secondary storage, raised over $90 million in its Series C funding round on April 4, 2017, co-led by GV (formerly Google Ventures) and Sequoia Capital, with participation from strategic investors Cisco Investments and Hewlett Packard Enterprise (HPE), alongside existing backers like Accel, ARTIS Ventures, Battery Ventures, DHVC, Foundation Capital, Qualcomm Ventures, Trinity Ventures, and Wing Venture Capital. The funding was driven by surging customer demand and market interest in Cohesity's web-scale platform that consolidates secondary data use cases beyond just backups, differentiating it from traditional vendors. Founded by Mohit Aron, who previously co-founded Nutanix and introduced hyperconverged infrastructure concepts, Cohesity aimed to use the capital to enhance product offerings, scale operations, and meet accelerating enterprise demand amid a tsunami of business data. Investor quotes highlighted the platform's tremendous value for managing all data in a single platform, positioning hyperconverged secondary storage as essential for enterprises. Sequoia Capital partner and Cohesity board member Bill Coughran noted market interest driving the round, while Wing Venture Capital's Gaurav Garg emphasized unprecedented market pull compared to other enterprise companies he had seen go public. GV's involvement underscored confidence in Cohesity's transformative data storage vision. |
| Jun 2015 | Series B | Artis Ventures (lead); Qualcomm Ventures (lead); InstantScale Ventures; GV; Battery Ventures; Sequoia Capital; DHVC; Accel; Oryx Ventures; Trinity Ventures; Wing Venture Capital | $55M | - | Cohesity is a pioneer in hyperconverged secondary storage, offering a software-defined platform that consolidates secondary storage workloads like backups and analytics across on-premises and public cloud environments to reduce storage needs and simplify data management. The company was founded by Mohit Aron, who previously co-founded Nutanix and introduced hyperconverged infrastructure concepts. In June 2015, Cohesity raised approximately $55 million in a funding round with investors including Accel, Artis Ventures, Battery Ventures, DHVC, GV, InstantScale Ventures, Oryx Ventures, Qualcomm Ventures, Sequoia Capital, Trinity Ventures, and Wing Venture Capital, led by Artis Ventures and Qualcomm Ventures. Later rounds included a Series C over $90 million co-led by GV and Sequoia Capital, and a 2018 Series D of $250 million with investors like SoftBank Vision Fund, Cisco Investments, HPE, Morgan Stanley, and Sequoia, bringing total funding to $410 million at that point. Post-2015, Cohesity demonstrated strong growth, with channel partners driving hyperconverged secondary storage sales; by fiscal year 2018 (ended July 31, 2018), revenues grew 300 percent year-over-year, achieving an annual revenue run rate of $200 million, up from $100 million two quarters prior, while 81 percent of partners grew business over 100 percent and 75 percent over 200 percent. The company remained 100 percent channel-focused. In fiscal year 2019, Cohesity achieved a 100 percent increase in software revenues, completing its transition to a software business model. By Q2 fiscal 2021 (ending Jan. 31, 2021), annual recurring revenue grew nearly 90 percent year-over-year, with net expansion rate exceeding 130 percent, an 84 percent increase in customers spending $1-5 million lifetime on software, and 300 percent growth in those over $5 million; service provider bookings surged 208 percent year-over-year. In 2021, Cohesity announced a $3.7 billion valuation, up $1.2 billion from less than 12 months prior, amid record Q2 results. |
| Nov 2013 | Series A | Sequoia Capital (lead); Wing Venture Capital (lead) | $15M | - | Cohesity closed a USD 15 million Series A round in late 2013, led by Sequoia Capital and Wing Venture Capital, while the company was still operating in stealth mode. The round was disclosed publicly in June 2015, when Cohesity emerged with USD 70 million of total venture funding. Sequoia partner Bill Coughran and Wing founding partner Gaurav Garg joined the board at the time of the investment. Cohesity was founded in June 2013 by Mohit Aron, who had previously co-founded Nutanix and pioneered hyper-converged infrastructure. The company set out to converge secondary storage workloads such as data protection, test and development, and analytics onto a single scale-out software platform built on web-scale architecture similar to that used by Google. The Series A funded engineering of the Cohesity Data Platform ahead of its general release, and a USD 55 million Series B followed in 2015. Cohesity was headquartered in Santa Clara, California when the round was disclosed and later moved to San Jose. |
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Who has invested in Cohesity?
35 investors have backed Cohesity across its funding rounds, including Wing Venture Capital, Sequoia Capital, Battery Ventures, Foundation Capital, Qualcomm Ventures and Trinity Ventures.
Lead investors include Haveli Investments, Steadfast Capital Management, DFJ Growth, Foundation Capital, Greenspring Associates and 6 other investors.
Cohesity Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Palo Alto, CA | 6 | Lead | Nov 2013 | |
| San Francisco, CA | 5 | Lead | Nov 2013 | |
| San Diego, CA | 3 | Lead | Jun 2015 | |
| Boston, MA | 3 | Participant | Jun 2015 | |
| San Jose, CA | 3 | Participant | Apr 2017 | |
| San Francisco, CA | 3 | Lead | Jun 2015 | |
| Spring, TX | 3 | Participant | Apr 2017 | |
| Palo Alto, CA | 3 | Lead | Apr 2017 | |
| Menlo Park, CA | 3 | Participant | Jun 2015 | |
| San Francisco, CA | 2 | Lead | Jun 2015 | |
 Tokyo | 2 | Lead | Jun 2018 | |
 Bangalore | 2 | Participant | Mar 2021 | |
| Menlo Park, CA | 2 | Lead | Apr 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Cohesity
Cohesity has acquired 3 companies to date.
Last acquisition by Cohesity was on October 1st 2025. Cohesity acquired Stone Ram for undisclosed valuation.
Latest Acquisitions by Cohesity
| Description | Stone Ram is a software and services company based in Towcester in the United Kingdom that helps enterprises recover or migrate their backup data. It was co-founded in October 2014 by Simon Brown, a former backup specialist who had worked on hundreds of backup migrations and on catalog migration processes for Symantec partners, together with his spouse Janina Brown, who ran finance. The company developed tools and processes for NetBackup catalog migrations and offered services such as backup design and implementation, catalog repair and recovery, recovery without a catalog, and enterprise backup support. Its Tranzman product enabled customers to move from one backup product to another. Stone Ram had no venture funding and a very small team, and its customers were enterprises running large backup estates. | Veritas Technologies is an enterprise data-management software company founded in 1983 and based in California. Its products protect, back up, recover, archive and govern data across on-premises, cloud and hybrid computing environments. Large companies and public-sector organizations use the software to maintain availability, manage information risk and recover systems after outages or attacks. Licensing, subscriptions, maintenance and professional support are its principal revenue streams. The business was separated from Symantec through the Carlyle and GIC acquisition and continued as a focused operating software company serving thousands of organizations worldwide. Its software supports business continuity. Veritas Technologies serves B2B and B2G customers through activities spanning Data Storage, Cybersecurity and IT Operations Management. | Imanis Data is a Silicon Valley-headquartered enterprise formerly known as Talena that protects petabyte-scale datasets with guaranteed resiliency across on-premises and public cloud environments. Its platform performs continuous data protection, cyber recovery, and analytics-ready backups for databases like Oracle, SQL Server, and Hadoop. Imanis targets large enterprises in finance and healthcare seeking immutable storage against ransomware threats. |
| HQ Country |  | | |
| HQ City | Towcester | San Francisco, CA | San Jose, CA |
| Deal Date | 1 Oct 2025 | 8 Feb 2024 | 8 May 2019 |
| Valuation | undisclosed | $3B | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
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Cohesity Competitors
Cohesity competitors include listed companies like Oracle Corp Japan and CommVault Systems, and private ones like Fivetran, Cyera, Collibra and Cockroach Labs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Japan | Publicly listed | $1.8B | $581M | $8.1B | 4.2x | |
| United States | Publicly listed | $1.2B | $84M | $6.8B | 5.4x | |
| San Francisco, CA | Private | $125M | - | $5.6B | 44.8x | |
| New York City, NY | Private | $150M | - | $12B | 80.0x | |
 Brussels | Private | $150M | - | $5.3B | 35.0x | |
| New York City, NY | Private | $550M | - | $5B | 9.1x |
Cohesity Public Comps
Cohesity is still privately-owned, but its public comps include Oracle Corp Japan, CommVault Systems, Teradata, Dameng Database, Xunce Technology, Business-intelligence, TRS Information Technology, Transwarp, e-Hualu and Dynatrace.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.8B | $581M | 4.3x | 4.2x | 13.5x | 13.0x | |||
| $1.2B | $84M | 5.7x | 5.4x | 80.3x | 24.9x | |||
| $1.7B | $285M | 1.7x | 1.7x | 10.1x | 6.3x | |||
| $196M | $84M | 12.1x | 9.6x | 28.2x | 21.1x | |||
| $193M | ($16M) | 12.1x | 6.9x | (149.3x) | 145.0x | |||
| $392M | $54M | 6.1x | 5.5x | 43.9x | - | |||
| $77M | ($20M) | 17.4x | 17.8x | (66.1x) | 433.4x | |||
| $67M | ($31M) | 18.8x | 19.3x | (40.9x) | - | |||
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Common questions about Cohesity
| When was Cohesity founded? | Cohesity was founded in 2013. |
| Where is Cohesity headquartered? | Cohesity is headquartered in San Jose, CA, United States. |
| Is Cohesity publicly listed? | No, Cohesity is a private, VC-backed company. |
| What is Cohesity's valuation? | Cohesity was last valued at $8B in its secondary sale in April 2025. |
| How much funding has Cohesity raised? | Cohesity has raised $1.8B across 8 funding rounds. |
| What was Cohesity's last funding round? | Cohesity's last funding round was a $1B Series H in December 2024, led by Haveli Investments. |
| Who are Cohesity's investors? | Cohesity's investors include Wing Venture Capital, Sequoia Capital, Qualcomm Ventures, Battery Ventures, Cisco Investments, Artis Ventures, Hewlett Packard Enterprise, Foundation Capital, Trinity Ventures, GV and 25 others. |
| What is Cohesity's revenue? | Cohesity's latest recorded revenue is $1.7B (December 2024). |
| What is Cohesity's revenue multiple? | Cohesity's latest valuation implies a 4.1x revenue multiple ($7B valuation on $1.7B of revenue). |
| Which companies are comparable to Cohesity? | Companies comparable to Cohesity include Oracle Corp Japan, CommVault Systems, Fivetran, Cyera, Collibra and Cockroach Labs. |
| How many companies has Cohesity acquired? | Cohesity has acquired 3 companies, including Stone Ram, Veritas Technologies and Imanis Data. |
| What was the largest acquisition by Cohesity? | The $3B acquisition of Veritas Technologies in February 2024 is the largest acquisition Cohesity has made to date. |
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