Pure Storage Valued at Over $1 Billion in T. Rowe Price Funding
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Pure Storage Inc., a maker of flash-memory technology for data centers, raised $150 million in a financing round that values the company at over $1 billion.
The funding, led by investors including mutual-fund manager T. Rowe Price Group Inc. and hedge-fund manager Tiger Global Management LLC, will help Pure expand overseas and bolster spending on research and development ahead of an initial public offering, the Mountain View, California-based company said today in a statement.