January 10th, 2017 by Adam Armstrong
Panzura Raises $32 Million In A Growth Capital Round
Today Panzura announced that it has raised $32 million in a new growth capital round. This round was led by Matrix Partners and joined by Meritech Capital Partners, Opus Capital, Chevron, and Western Digital. Panzura intends to take the new capital and expand its leadership in accelerating the cloud first storage model. The money raised will also go toward Panzura’s hybrid cloud storage offerings for high performance database and virtual workloads, big data analytics, and Internet of Thing (IoT) applications.
2016 was a productive and rewarding year for Panzura. The company reported that it has added over one hundred new enterprise customers and an expansion of its channel and alliance presence. The year saw several release for Panzura including its Freedom Archive, Inside, Next-Gen Hybrid Cloud Controllers, SMART Sync, and an in-Cloud NAS on Azure. On top of this, Panzura also added 26PB of data to its enterprise storage. Several of Panzura’s customers have adopted a cloud-first strategy and have been able to reduce their costs by up to 70%.