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Menlo Ventures, Iris Capital lead $22m Scality Series C round

9 Jul 2013

data-binaryMenlo Ventures and Iris Capital have brought petabyte-scale storage company Scality’s total invested capital to $35m by leading a $22m Series C financing round.

Existing investors Idinvest Partners, OMNES Capital and Galileo Partners also took part in the round alongside new backer FSN PME.

Scality said it planned to use the financing to strengthen its worldwide sales and marketing initiatives targeting enterprise and service providers, and increase investment in its R&D team.

Menlo Ventures managing director Doug Carlisle said, “The growth opportunity in the software storage market is very exciting for us.

“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.”

Scality CEO Jerome Lecat added, “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.

“I have managed several start-ups, but this is the first time I have seen a five times sales growth on an annual basis. A disruption is happening in the market and we are driving it.”

Yesterday AltAssets reported that GE Ventures and Accenture were the latest investors to back big data analytics business Predixion Software, having joined a $20m Series C financing round.

Existing investors include Frost Partners, DFJ Frontier, EMC, Miramar Venture Partners and Palomar Ventures, all of which returned with capital for the round.

Accenture said that in conjunction with leading the round it would jointly develop a range of advanced predictive analytics and solutions for its clients with Predixion.

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