Actifio this week announced it had gained another $100m in funding, adding to a previous round of $107m, and according to Ash Ashutosh, founder and chief executive of Actifio, that pushes its market valuation to $1bn.
Actifio's Copy Data Storage Platform is the latest iteration of what we might call file virtualisation.
In the Actifio scheme numerous, isolated, many-times-duplicated versions of files are rationalised into the smallest number of copies required for the various requirements of the organisation - file access, backup, archiving and/or disaster recovery.
Whereas most businesses suffer the unwanted and unplanned multiplication of files as users copy, email, etc information between them, Actifio slims data down to a "golden copy", which is in practice the nearest one to the application that created or updated it.
Other copies are held elsewhere. They may be needed in production by other geographically located datacentres, or may be at different stages in their lifecycle, being backed up or archived, for example, and are updated from the golden copy so that all are eventually synchronised. Copies are retained with snapshot functionality, ie they can be rolled back to any point in time where changes were made.
Actifio targets the data protection and disaster recovery market and hopes to replace existing replication products, including at the storage array. It supplies the product as software or as an appliance on an x86 server. When customers deploy it Actifio discovers all the apps in the environment and policies can be set for their data - how many copies, on what tier of storage media it should be kept, etc.
It all sounds like the way you'd do file storage if you were thinking it up from scratch.
But there could be obstacles.
For a start, with 300 customers gathered over five years it hasn't exactly set the world on fire. And while the Actifio scheme is a clever one that can save a lot of disk space, re-architecting an existing environment might be a big ask for a lot of customers and a nerve-jangling prospect.
Perhaps that's why more than half its customers have deployed Actifio where data is clearly separated from production data - 6% use it for analytics and 17% for test and dev - or into relatively new, greenfield, environments at the 30% of its customers who are service providers.
Then there's the fact that there are many vested interests in storage that work against the idea of reducing the need for disk capacity. Ashutosh says the market it is playing in is worth $46bn but how much of that will take a swipe at disk vendors' revenues?
Whatever happens, the future for Actifio looks like one of going public with an IPO or being bought. Let's hope if it's the latter that it's not bought by a disk array maker that puts it out to pasture.