Panzura picks up $32 million growth funding

We’re on a roll baby and we’re gonna grow, grow, grow….

Metal plant grows out of circuit board - Green IT concept pic. Photo by Shutterstock

Cloud storage gateway supplier Panzura has raked in a $32 million E-round of funding as incoming CEO Patrick Harr proves his worth on the growth front.

We're told by happy Panzura that it had record growth in 2016, with over 100 new enterprise customers and expanding its channel and alliance presence with AWS, Google, IBM and Microsoft Azure. It added more than 26 petabytes of enterprise storage in the year, and its products were deployed in 33 countries across multiple industries and governments.

This growth capital round was led by Matrix Partners and joined by Meritech Capital Partners, Opus Capital, Chevron and Western Digital, and an undisclosed strategic investor (not El Reg in case you were wondering).

Harr said: "The on-premises storage model is outdated, expensive and collapsing under its own weight... We are excited about the new round as it enables us to expand our reach to new customers and markets that will benefit from the significant shift from the dying, on-premises storage model to hybrid cloud storage."

Eat your heart out, you on-premises storage guys... oh, hold on, you all support the hybrid cloud too. But let's not interrupt Patrick in full flow with inconsequential details like that.

Closish competitor Nasuni picked up a $25 million round in late December. This cloud storage gateway biz is hot, hot, hot. ®


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