Scality secures $22M from Menlo Ventures, Iris Capital and FSN PME with participation from all existing investors.
Financing to expand global sales and marketing, and extend R&D investment.
San Francisco, CA – July 9th, 2013 – Scality, an industry leader in petabyte-scale storage, today announced it has closed its series C funding round for $22 million, bringing the total invested capital since company inception to $35M. The round was led by Menlo Ventures and Iris Capital, with participation from FSN PME and all existing investors, including Idinvest Partners, OMNES Capital and Galileo Partners. Scality will use the funding to strengthen its worldwide sales & marketing initiatives targeting enterprise and service provider markets, and to increase investment in its world-class R&D team.
“The growth opportunity in the software storage market is very exciting for us,” said Doug Carlisle, managing director, Menlo Ventures. “The intersection of Mobile, Social, Big Data and Cloud Infrastructure is creating a disruption in technology innovation. Scality is leading the disruption in software defined storage technology. Since its introduction in 2010, Scality’s RING software storage product has seen rapid adoption by companies eager to try a new storage approach. We look forward to watching Scality continue to innovate in data storage solutions for the web scale infrastructure markets.”
The company has seen exceptional growth in customer adoption, achieving 400% sales growth year over year. Customers deploy Scality’s software to provide large-scale storage for Cloud, Big Data, and Backup and Archive applications. The impressive customer list include four of the top ten cable operators in the US, the second largest Telco in France, leading portals in Italy, Germany, and UK, and several mobile operators in Japan. More recently, Scality announced its entry in the Media and Entertainment market, and just signed RTL, the second largest media group in Europe for its Video-on-Demand offering.
“We have watched Scality grow since 2010, and their progress has been exceptional,” said Guillaume Meulle, partner, Iris Capital. “We are delighted to participate in this funding round and to contribute our experience of the Service Provider market, as well as our strong ties with Orange and Publicis to help Scality build upon its current success.”
“Our investors are a perfect match for the DNA of the company: They share our vision for the future of data storage and they understand the global market place.” said Jerome Lecat, CEO, Scality. “I have managed several start-ups, but this is the first time I have seen a 5x sales growth on an annual basis. A disruption is happening in the market and we are driving it. This is very exciting. We are going to continue growing and are recruiting to sustain this growth including increasing our investment in R&D.”
Scality is an industry leader in petabyte-scale storage. The company was founded in 2009 to introduce a paradigm shift in storage with a software only solution that could easily handle exponential data growth, ensure high availability, deliver high performance and reduce operational cost. Scality’s award winning scale-out storage solution, the Scality RING, is based on a patented object storage technology and operates seamlessly on any commodity server hardware. It delivers outstanding scalability and data persistence, while the end-to-end parallel architecture provides unsurpassed performance. Scality based storage infrastructure integrates seamlessly with applications through the support of standard storage protocols such as NFS, S3 API, Cinder for Openstack, as well as open source integration for Hadoop. In the past four years Scality has developed and deployed software storage solutions that deliver billions of files, to tens of millions of users each day with 100% availability. Scality’s impressive customer list include four of the top ten cable operators in the US, the second largest Telco in France, leading portals in Italy, Germany, and UK, and several mobile operators in Japan. For more information, visit: www.scality.com or follow @Scality on Twitter.
About Menlo Ventures
Menlo Ventures provides capital for seed through growth technology companies in the consumer and enterprise sectors. For decades, the firm’s market-driven research analysis has led to the identification of, and successful exits in innovative technology markets. Notable research areas of investment include Mobile (Siri, Uber, TeleNav), Enterprise Storage (3PAR, Spinnaker Networks, Coraid), Communications (Acme Packet, Cavium Networks), and Consumer (Fab, Tumblr, Carbonite, Roku). Founded in 1976, Menlo’s portfolio includes 70 public companies and more than 100 mergers and acquisitions. Throughout the firm’s history, Menlo’s deep network of portfolio entrepreneurs, angels and advisors are a key resource made available to all of our family of investments. Menlo Ventures has $4 billion under management and is currently investing Menlo Ventures XI, a $400 million fund with $20 million allocated to our Menlo Talent Fund for fast seed funding. For more information, visit www.menlovc.com.
About Iris Capital
Iris Capital is a pan-European venture capital fund manager specializing in digital economy. Since its inception in 1986, the Iris Capital team has invested more than €900 million in more than 200 companies. Iris Capital targets opportunities in service or technology companies, seeking growth capital in order to realize their strategy. It provides active support to its portfolio companies on the basis of its strong sector specialization and experience, and has offices in Paris, Düsseldorf, San Francisco, Montreal, Riyadh, Dubai, Beijing and Tokyo. In 2012 Iris Capital has entered into a strategic partnership with Orange and Publicis to manage their joint venture capital initiative.
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