While the hunt for cloud storage is predicted to be one of the hottest items in the cloud industry, pioneer Scality swiftly secures $7 million in funding. This Series B grant is led by Invest Partners, formerly known as the AGF Private Equity. With augmented pockets, Scality will now focus on three things: building an East Coast sales and services office in the Big Apple, developing distributed object-based storage platform and new leveling for algorithms for private clouds milieu.
With Big Data and the cloud revolution fully underway, Jerome Lecat, CEO and Founder of Scality boasts strong market response of their products, saying: “We have received considerable interest from potential investors as Scality is positioned in the heart of the cloud revolution, with object-based storage being at the early stages of Gartner hype curve. IdInvest who has financed several companies based in the Silicon Valley with R&D in France, is the perfect partner for us, with capacity to continue funding the growth of Scality and significant experience in the service provider market.”
Scality is currently enjoying the red carpet treatment thanks to its solutions that provided answers to problems deemed before as irresolvable including lurid storage system management collapse, upsetting storage method failures from inadequacies of metadata and manual migration of intensive data. This cloud service provider, like Amazon, has recently cracked a major OEM deal with vendor Parallels. This partnership will allow any MSP using the new tools to turn on a cloud based storage service “on demand” eliminating the need to go through a separate purchase, migration and integration process. Preceding this great news is an equally compelling thrust to Scality as Connectria, one of the longest-standing, most experienced, enterprise-class hosting businesses in North America, has chosen Scality’s RING as the center of its new storage facilities.
The confidence being shown by financial institutions and the IT community towards cloud storage has kept the marketplace alive and welcoming start-ups and subsidies here and there. Cloud file storage and collaboration box, Box.net recently harvested praises along with $48 million in funds. Another player that is clearly making its presence felt is Egynte, which recently was awarded $10 million Series B funding with Kleiner Perkins at the frontline. Cloud storage is without a doubt an exploding industry, especially with reports that its utilization will make way for effective smartphone use.