Lightbits Labs Funding, Investors & Competitors

Lightbits Labs has raised $113M across 3 funding rounds, most recently a $42M undisclosed-stage round in June 2022.

Last Lightbits Labs funding round

$42M

Undisclosed stage · Jun 2022

Cumulative funding Lightbits Labs raised

$113M

across 3 funding rounds

Key investors in Lightbits Labs

  • Celesta Capital
  • Valor Equity Partners
  • JPMorgan Chase
  • Square Peg Capital
  • Cisco
  • Walden International
  • Atreides Management
  • O.G. Venture Partners

Lightbits Labs Overview

About Lightbits Labs

Lightbits Labs is a software-defined block storage provider that originated the NVMe over TCP protocol for disaggregated infrastructure. Based in San Jose California it delivers low-latency high-throughput storage optimized for real-time analytics transactional databases and AI workloads using commodity servers and Ethernet networks. Lightbits software ensures scalability resiliency and cost efficiency scaling to petabytes across thousands of nodes. Backed by investors including Cisco Investments Dell Technologies Capital Intel Capital and Micron the platform integrates with Kubernetes VMware and OpenShift. Founded in 2018 Lightbits Labs serves cloud providers enterprises and service operators worldwide reducing data center complexity.


Founded

2016

HQ

United StatesSan Jose, CA

Status

Privately held

Customer focus

B2B

Revenue model

Licensing, Subscription

Lightbits Labs Funding History

Lightbits Labs has raised a total of $113M across 3 funding rounds.

Lightbits Labs' first fundraising round was a $21M Series A in April 2017. The most recent completed round was a $42M undisclosed-stage round in June 2022.

Lightbits Labs funding rounds

Lightbits Labs funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2022Undisclosed stageAtreides Management (lead); Richard Li; O.G. Venture Partners; JPMorgan Chase; Valor Equity Partners$42MLightbits Labs is a cloud data platform company providing software-defined NVMe storage solutions for cloud-native data centers, delivering high performance, scalability, and efficiency in bare metal, virtual, or containerized environments. The company invented NVMe/TCP and focuses on disaggregated storage to meet demands from enterprises and cloud service providers amid supply chain challenges and cloud adoption acceleration. On June 28, 2022, Lightbits Labs raised $42 million in a growth capital round led by Atreides Management, with participation from J.P. Morgan, Valor Equity Partners, O.G. Tech (Eyal Ofer), Richard Li of Pacific Century Group, and existing investors. This brought total funding since 2016 to over $100 million. The investment validates Lightbits' leadership in software-defined storage for cloud-native applications, supporting customer demand for superior performance and economics. A later incubator round occurred in March 2023 with Microsoft for Startups.
Jul 2018Series BDell EMC (lead); Avigdor Willenz; Micron; Walden International; Square Peg Capital; Cisco; Celesta Capital$50MLightbits Labs is a software-defined storage company specializing in NVMe/TCP-based disaggregated block storage for cloud-native data centers, founded in 2015-2016 by inventors of the NVMe/TCP standard. The company targets private, public, and edge clouds with solutions for low-latency, scalable storage suited for real-time analytics, transactional, and AI/ML workloads, competing with players like NetApp, Vast Data, Pure Storage, Dell, Infinidat, and startups such as StorONE. Backed by investors including Cisco Investments, Dell Technologies Capital, Intel Capital, Lenovo, and Micron, Lightbits focuses on performance, resiliency, and cost-efficiency. The queried 2018 funding round, led by Dell EMC with investors Avigdor Willenz, Celesta Capital, Cisco, Micron Technology, Square Peg Capital, and Walden International, raised approximately $42.5 million (Series B per some sources) or $50 million. This followed earlier seed and Series A rounds totaling $20 million in 2015-2016. Subsequent rounds included $42 million growth capital in June/July 2022 led by Atreides Management with J.P. Morgan, Valor Equity Partners, O.G. Tech, and others, bringing total funding over $100 million, used for platform expansion, innovation, customer growth, and scaling to 150+ employees from 100. Lightbits reported doubling install base and 2.3x customer pipeline growth by end-2021, with customers in cloud providers, finance, edge, CDNs, and Fortune 1000, plus wins like VMware vSphere certification and Intel partnership.
Apr 2017Series ACelesta Capital (lead)$21MLightbits Labs, founded in 2016 and based in San Jose, California, develops a software-defined NVMe data platform for cloud-native environments, pioneering NVMe/TCP protocol to deliver high-performance block storage that is simple, scalable, and cost-efficient across bare metal, virtual, or containerized setups. The company targets cloud service providers, Fortune 1000 organizations including financial services, e-commerce, webscalers, and CSPs facing demands for fast, resilient, secure services amid supply chain challenges and cloud adoption acceleration. Subsequent rounds include $50 million in March 2019 and $42 million growth capital in June 2022 led by Atreides Management with J.P. Morgan, Valor Equity Partners, O.G. Tech, and others, bringing total funding over $100 million by 2022 and up to $105.3 million by 2025 reports. Lightbits has demonstrated traction with customers like Crusoe, Elastx, Nebul, and Fortune 500 firms, achieving record Q1 2025 sales, scaling to hundreds of petabytes, 75 million IOPS, and sub-millisecond latency; it plans global expansion in Americas, Europe, and high-growth regions with new products.

Who has invested in Lightbits Labs?

12 investors have backed Lightbits Labs across its funding rounds, including Celesta Capital, Valor Equity Partners, JPMorgan Chase, Square Peg Capital, Cisco and Walden International.

Lead investors include Atreides Management, Dell EMC and Celesta Capital.


Lightbits Labs Investors

Investors in Lightbits Labs by funding rounds participated
InvestorHQRoundsRoleFirst check
Celesta CapitalUnited StatesSan Francisco, CA2LeadApr 2017
Avigdor Willenz--1ParticipantJul 2018
MicronUnited StatesBoise, ID1ParticipantJul 2018
Atreides ManagementUnited StatesBoston, MA1LeadJun 2022
Richard LiUnited StatesSan Francisco, CA1ParticipantJun 2022
Walden InternationalUnited StatesSan Francisco, CA1ParticipantJul 2018
O.G. Venture PartnersGermanyMunich1ParticipantJun 2022
Square Peg CapitalAustraliaSydney1ParticipantJul 2018
JPMorgan ChaseUnited StatesNew York City, NY1ParticipantJun 2022
Dell EMCUnited StatesBoston, MA1LeadJul 2018

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Lightbits Labs Competitors

Lightbits Labs competitors include listed companies like CommVault Systems and Oracle, and private ones like VAST Data, DataDirect Networks, Cribl and Qumulo.

Public and private companies comparable to Lightbits Labs
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VAST DataUnited StatesNew York City, NYPrivate$200M-$30B150.0x
CommVault SystemsUnited StatesUnited StatesPublicly listed$1.2B$84M$6.2B5.0x
DataDirect NetworksUnited StatesLos Angeles, CAPrivate$750M-$5B6.7x
CriblUnited StatesSan Francisco, CAPrivate$100M-$3.5B35.0x
QumuloUnited StatesSeattle, WAPrivate--$1.2B-
OracleUnited StatesUnited StatesPublicly listed$67B$33B$455B7.8x

Lightbits Labs Public Comps

Lightbits Labs is still privately-owned, but its public comps include Micron, CXMT, Oracle, Palantir, Dell, SanDisk, Seagate, KIOXIA, Western Digital and Snowflake.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Micron$37B$18B29.0x8.0x60.3x9.6x
CXMT$9.2B$5.5B60.3x-101.9x-
Oracle$67B$33B8.6x7.8x17.7x13.9x
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
Dell$114B$12B3.5x2.4x34.3x20.1x
SanDisk$20B$13B11.4x8.7x17.6x12.5x
Seagate$12B$4.2B15.2x13.6x43.8x30.8x
KIOXIA$15B$7.6B11.7x4.6x23.1x6.0x

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Common questions about Lightbits Labs

When was Lightbits Labs founded?Lightbits Labs was founded in 2016.
Where is Lightbits Labs headquartered?Lightbits Labs is headquartered in San Jose, CA, United States.
Is Lightbits Labs publicly listed?No, Lightbits Labs is a private, VC-backed company.
How much funding has Lightbits Labs raised?Lightbits Labs has raised $113M across 3 funding rounds.
What was Lightbits Labs' last funding round?Lightbits Labs' last funding round was a $42M undisclosed-stage round in June 2022, led by Atreides Management.
Who are Lightbits Labs' investors?Lightbits Labs' investors include Celesta Capital, Avigdor Willenz, Micron, Atreides Management, Richard Li, Walden International, O.G. Venture Partners, Square Peg Capital, JPMorgan Chase, Dell EMC and 2 others.
Which companies are comparable to Lightbits Labs?Companies comparable to Lightbits Labs include VAST Data, CommVault Systems, DataDirect Networks, Cribl, Qumulo and Oracle.

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