Bengaluru: Scality, a California-based storage management solutions provider, raises $40 million in its series D funding round led by BroadBand Tower, Inc. Its existing investors – Menlo Ventures, IDInvest, BPI France, Iris Capital, Omnes Capita and Galileo Partners along with 65 percent of the company staff also contributed to the round. The company plans to shell-out the fresh capital to expand its sales team in North America, support its resellers and expand its business operations globally. Till date, the company raised around $80 million; the previous being in July 2013 where it had raised $22 million from Iris Capital, Menlo Ventures, Galileo Partners and other investors.
“Over the course of the last year-and-a-half, we’ve seen an unprecedented amount of funding given to software storage startups. At the same time, we’ve seen the traditional storage vendors lose market share, change leadership and shift their business model to mimic the software-defined strategy. This latest funding round comes at a time when Scality and the software-defined storage industry are poised to attract billions of dollars from customers that are rethinking their storage strategies. Within our Series D, we are happy to welcome BroadBand Tower, and can report that all of our existing investors have contributed, as well as 65 percent of Scality employees,” says Jerome Lecat, CEO, Scality. “Our employees and partners believe in us, and the fact that this last funding round was done at 2x valuation speaks volumes about the overall confidence in the future of Scality. This new capital investment will allow us to massively boost our go-to-market, attract strategic new hires, continue to expand globally, and be primed for a successful IPO by 2017,” he further added.
Speaking about the new investment, Hiroshi Fujiwara, Chairman, President & CEO, BroadBand Tower, Inc. quotes, “BroadBand Tower doesn’t only resell technologies; we actively invest in new innovations and market disruptors to give our customers an edge in their businesses. Like server virtualization and clustered NAS before it, software-based storage is a relatively new concept in Japan, and we wanted to be the first to bring it to the Japanese enterprise market. We believe that software-based storage is the future, and many Japanese companies across all vertical industries will benefit from it”.
Founded in 2009 by Serge Dugas, Giorgio Regni, Jerome Lecat, Bradley King and Daniel Binsfeld, Scality is the leading provider of software-based IT solutions. Through its flagship product ‘Scality RING’, the company offers 100 percent reliable storage services with unmatched performance and is capable of handling capacity-driven workloads such as Cloud services, video, and enterprise archiving. It creates an unlimited storage for file, object and OpenStack applications. Seven of the world’s top 20 telecom enterprises rely on Scality for mission critical applications to serve over 500 million users worldwide.