Cohesity Revenue, Valuation, Funding & Investors
Cohesity is valued at $7B as of April 2024, a 4.1x multiple on its last reported $1.7B revenue.
Last Cohesity valuation
$7B
Series F · Apr 2024
Last Cohesity funding round
$150M
Series F · Apr 2024
Cohesity revenue
$1.7B
Series F · Apr 2024
Key investors in Cohesity
Sequoia Capital
Wing Venture Capital
GV
Foundation Capital
Trinity Ventures
DFJ Growth
About Cohesity
Cohesity is a San Jose-headquartered data management company offering hyperconverged infrastructure for secondary storage. The Cohesity Data Platform supports backups, replication, and analytics on premises and in clouds like AWS and Azure. Valued at over $7 billion in 2024, it protects data for Fortune 500 clients including Barclays and Deutsche Bank with ransomware recovery features.
Founded
2013
HQ
San Jose, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$1.7B (Apr 2024)
Valuation
$7B (Apr 2024)
Cohesity Valuation
Cohesity is currently valued at $7B, based on its Series F in April 2024.
The $150M round included NVIDIA and IBM.
Cohesity's valuation has grown 14x from $500M at its Series C in April 2017 to $7B in April 2024, across 5 priced rounds.
Cohesity valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2024 | Series F | $7B | 4.1x |
| Mar 2021 | Secondary | $3.7B | 2.5x |
| 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 F in April 2024. At a $7B valuation, that implies a 4.1x revenue multiple.
Revenue grew from $1.5B in March 2021 to $1.7B in April 2024, while the revenue multiple moved from 2.5x to 4.1x.
Cohesity revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2024 | $1.7B | $7B | 4.1x | Series F |
| Mar 2021 | $1.5B | $3.7B | 2.5x | Secondary |
* 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 $810M across 6 funding rounds, plus 1 secondary share sale.
Cohesity's first fundraising round was a $15M Series A in November 2013. The most recent completed round was a $150M Series F in April 2024.
Cohesity funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2024 | Series F | NVIDIA; IBM | $150M | $7B | 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. |
| Apr 2020 | Series E | DFJ Growth (lead); Foundation Capital (lead); Greenspring Associates (lead); Wing Venture Capital (lead) | $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); Morgan Stanley Expansion Capital; N47; Cisco Investments; Hewlett Packard Enterprise; Sequoia Capital; Manhattan Venture Partners (MVP); Innovating Capital; Trinity Ventures; The Syndicate Group | $250M | $1B | - |
| Apr 2017 | Series C | GV (lead); Sequoia Capital (lead) | $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 | - | - |
Who has invested in Cohesity?
27 investors have backed Cohesity across its funding rounds, including Sequoia Capital, Wing Venture Capital, GV, Foundation Capital, Trinity Ventures and DFJ Growth.
Lead investors include Steadfast Capital Management, DFJ Growth, Foundation Capital, Greenspring Associates, Wing Venture Capital and 5 other investors.
Cohesity Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Nov 2013 | |
| San Francisco, CA | 4 | Lead | Nov 2013 | |
| San Francisco, CA | 2 | Lead | Jun 2015 | |
| San Francisco, CA | 2 | Lead | Apr 2020 | |
| New York City, NY | 2 | Participant | Jun 2018 | |
| San Francisco, CA | 2 | Lead | Apr 2020 | |
| San Francisco, CA | 2 | Participant | Jun 2015 | |
| San Jose, CA | 1 | Participant | Apr 2024 | |
| Los Angeles, CA | 1 | Participant | Jun 2015 | |
| San Diego, CA | 1 | Lead | Jun 2015 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Morgan Stanley Expansion Capital | New York City, NY | 1 | Participant | Jun 2018 |
| Baltimore, MD | 1 | Lead | Apr 2020 | |
| San Francisco, CA | 1 | Participant | Jun 2018 | |
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Start Free TrialAcquisitions by Cohesity
Cohesity has acquired 2 companies to date.
Last acquisition by Cohesity was on February 8th 2024. Cohesity acquired Veritas Technologies for $3B.
Latest Acquisitions by Cohesity
| Description | Veritas Technologies is a Santa Clara-headquartered provider of data management software including NetBackup for enterprise backup, InfoScale for storage virtualization, and Alta Data Protection for cloud resilience. It protects workloads in data centers, AWS, Azure, and Google Cloud environments. Spun out from Symantec in 2016, the company serves over 80 percent of Fortune 100 firms through global support centers. | 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 | San Francisco, CA | San Jose, CA |
| Deal Date | 8 Feb 2024 | 8 May 2019 |
| Valuation | $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, Collibra, Cockroach Labs and DataDirect Networks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Japan | Publicly listed | $1.8B | $589M | $7.7B | 3.9x | |
| United States | Publicly listed | $1.2B | $84M | $6.2B | 5.0x | |
| San Francisco, CA | Private | $125M | - | $5.6B | 44.8x | |
 Brussels | Private | $150M | - | $5.3B | 35.0x | |
| New York City, NY | Private | $550M | - | $5B | 9.1x | |
| Los Angeles, CA | Private | $750M | - | $5B | 6.7x |
Cohesity Public Comps
Cohesity is still privately-owned, but its public comps include Oracle Corp Japan, CommVault Systems, Xunce Technology, Dameng Database, Teradata, Business-intelligence, Transwarp, TRS Information Technology, e-Hualu and Dynatrace.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.8B | $589M | 3.9x | 3.9x | 12.1x | 12.2x | |||
| $1.2B | $84M | 5.2x | 5.0x | 72.9x | 23.2x | |||
| $192M | ($15M) | 21.3x | 13.4x | (264.0x) | 415.8x | |||
| $195M | $84M | 15.3x | 12.5x | 35.5x | 27.6x | |||
| $1.7B | $285M | 1.4x | 1.5x | 8.4x | 5.3x | |||
| $389M | $54M | 6.6x | 5.9x | 47.7x | - | |||
| $67M | ($31M) | 27.5x | 28.0x | (59.8x) | - | |||
| $76M | ($20M) | 19.3x | 19.7x | (73.5x) | 478.8x | |||
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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 $7B in its Series F in April 2024. |
| How much funding has Cohesity raised? | Cohesity has raised $810M across 6 funding rounds. |
| What was Cohesity's last funding round? | Cohesity's last funding round was a $150M Series F in April 2024. |
| Who are Cohesity's investors? | Cohesity's investors include Sequoia Capital, Wing Venture Capital, GV, DFJ Growth, Manhattan Venture Partners (MVP), Foundation Capital, Trinity Ventures, NVIDIA, InstantScale Ventures, Qualcomm Ventures and 17 others. |
| What is Cohesity's revenue? | Cohesity's latest recorded revenue is $1.7B (April 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, Collibra, Cockroach Labs and DataDirect Networks. |
| How many companies has Cohesity acquired? | Cohesity has acquired 2 companies, including 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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