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- Lightbits Labs
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
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
Website
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2022 | Undisclosed stage | Atreides Management (lead); Richard Li; O.G. Venture Partners; JPMorgan Chase; Valor Equity Partners | $42M | Lightbits 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 2018 | Series B | Dell EMC (lead); Avigdor Willenz; Micron; Walden International; Square Peg Capital; Cisco; Celesta Capital | $50M | Lightbits 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 2017 | Series A | Celesta Capital (lead) | $21M | Lightbits 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Apr 2017 | ||
| -- | 1 | Participant | Jul 2018 | |
| 1 | Participant | Jul 2018 | ||
| 1 | Lead | Jun 2022 | ||
| 1 | Participant | Jun 2022 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Jun 2022 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Jun 2022 | ||
| 1 | Lead | Jul 2018 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialLightbits Labs Competitors
Lightbits Labs competitors include listed companies like CommVault Systems and Oracle, and private ones like VAST Data, DataDirect Networks, Cribl and Qumulo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $200M | - | $30B | 150.0x | ||
| Publicly listed | $1.2B | $84M | $6.2B | 5.0x | ||
| Private | $750M | - | $5B | 6.7x | ||
| Private | $100M | - | $3.5B | 35.0x | ||
| Private | - | - | $1.2B | - | ||
| Publicly listed | $67B | $33B | $455B | 7.8x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $37B | $18B | 29.0x | 8.0x | 60.3x | 9.6x | |||
| $9.2B | $5.5B | 60.3x | - | 101.9x | - | |||
| $67B | $33B | 8.6x | 7.8x | 17.7x | 13.9x | |||
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $114B | $12B | 3.5x | 2.4x | 34.3x | 20.1x | |||
| $20B | $13B | 11.4x | 8.7x | 17.6x | 12.5x | |||
| $12B | $4.2B | 15.2x | 13.6x | 43.8x | 30.8x | |||
| $15B | $7.6B | 11.7x | 4.6x | 23.1x | 6.0x | |||
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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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