Panzura, a Campbell, California-based provider of enterprise cloud technology, just announced that it has closed a $25 million funding round led by late-stage investor Meritech Capital Partners. Existing backers Matrix Partners, Khosla Ventures, Opus Capital and Chevron Technology Ventures also contributed in the well-attended round, bringing Panzura’s total funding to an impressive $58 million.
Meritech managing director Paul Madera, credited with leading his firm’s investments in Facebook, Salesforce and a number of other high profile companies, is joining the startup’s board of directors.
Panzura was formed in 2008 by Randy Chou and John Taylor, two founding members at Aruba Networks who also helped establish Alteon Websystems. The startup’s flagship product is the Global Cloud Storage System, a so-called Application Network Storage (or “ANS”) box that delivers centralized management and third party cloud integration. The solution includes the company’s homegrown storage controller, operating system and distributed file system.
“The explosion in unstructured data and the desire to make files available to a global, distributed workforce are rendering traditional enterprise file storage infrastructure obsolete,” said Paul Madera, managing director at Meritech Capital Partners. “Panzura’s solution delivers cloud storage to the enterprise in a scalable, high-performance solution that slashes capital expenditures while enabling seamless global file sharing.”
Panzura says that its customer base grew by 700 percent last year. The new funding will be used to maintain the company’s momentum until it hits profitability, to hire more engineers and to establish a foothold in the Asia pacific region.
Panzure is a fast mover. The company was among the first cloud vendors to add support for Google’s PaaS service last year, and it jumped on the j HP Cloud Services bandwagon as soon as the OpenStack-based platform entered public beta.
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