According to a Research and Markets report, the global cloud storage market is expected to grow from $25.171 billion in 2017 to $92.488 billion by the year 2022, at an annualized growth rate of 29.7%. The growth is expected to be driven by the increasing adoption within the BFSI, healthcare, and media and entertainment verticals. But despite the high growth in the industry, recently listed Tintri (NASDAQ: TNTR) is failing to generate interest in itself.

Tintri’s Offerings

Mountain View-based Tintri (NASDAQ: TNTR) was founded in 2008 by Kieran Harty and Mark Gritter with a mission to provide large organizations and cloud service providers with an enterprise cloud platform that offers public cloud capabilities inside their own data centers that can also connect to public cloud services.

Tintri developed an enterprise cloud platform that delivers the benefits of public cloud infrastructure while allowing organizations the ability to run cloud-native applications in their own private cloud. Organizations are able to use its platform as a foundation for their private clouds to build development environments and run mission-critical enterprise applications. Its platform also enables organizations to scale and optimize infrastructure by simplifying deployment and operations.

The cloud platform is based on a web services architecture Tintri CONNECT that uses a building-block approach to connect to other elements of infrastructure. CONNECT can integrate with major virtualization architectures, including those of VMware, Microsoft, Citrix, Red Hat, and OpenStack.

Tintri’s Financials

Tintri released its first line of products back in 2011. Since then, it has seen strong revenue growth. Over the past few years, revenues have improved from $49.8 million in 2015 to $86 million in 2016 to $125.1 million in 2017. Net losses have widened from $69.7 million in 2015 to $101 million in 2016 to $105.8 million in fiscal 2017.

Till earlier this year, Tintri was privately funded. It had raised $200 million from investors including EquityZen, Silver Lake Kraftwerk, Menlo Ventures, New Enterprise Associates, Insight Venture Partners, Lightspeed Venture Partners, Akkadian Ventures, and SharesPost Investment Management. Its last funding round was held in August 2015 when it raised $125 million at an undisclosed valuation.