Flash storage provider Tegile Systems raises $70M

Tegile Systems, a company that sells hybrid and all-flash storage systems, announced today it raised $70 million in funding.

The company plans to use the funds — it’s now raised a total of $117.5 million — to help its expansion and “address the explosive opportunity” in the flash storage market.

As Tagile says, the market is “explosive.” Other storage companies have recently raised large amounts of money. Kaminario took in $53 million in December, and Pure Storage put $225 million in its pocket early last year.

Capricorn Investment Group, Cross Creek Advisors, and Pine River Capital Management participated in the round along with past investors August Capital, Meritech Capital Partners, Western Digital, and SanDisk.