Today we announced a $32M financing round. This new financing will be used in two ways. The first is to scale growth as the storage industry moves from a traditional on premises storage model to a cloud-first model. We are also expanding Panzura’s unique hyperconverged cloud capability of creating a two-way data bridge between the datacenter and the cloud or between clouds.
AWS and Azure are poised to be the number two and number five enterprise storage providers while traditional NAS vendors struggle. Panzura’s patented, distributed cloud file system enables IT leaders to modernize archaic storage architectures by caching the active data set on high performance Panzura flash appliances at the edge while the inactive data remains in the cloud, available on demand, for limitless scale and dramatically lower cost. While there are many customers who have replaced NetApp and SnapMirror using Panzura and cloud storage (as well as DR, backup, archive, and all the networking needed to support replication), other enterprise customers are still not aware that they can replace all of that storage and networking gobbledygook with a simple cache and cloud model — like Woodard and Curran did. Part of this funding will be used to help enterprises understand that there is a better way.
Once data is in the cloud, it can be cached on Panzura controllers both on premise and in the cloud providing the same distributed file system across the datacenter and the cloud or between clouds. With part of this funding being used to add additional protocol support, Panzura’s Hyperconverged Cloud Storage capability will bring virtual workload and analytics data to compute regardless of location. This results in workloads and users now having unified, high performance access to data from anywhere in the world with limitless capacity in the cloud.
In both cases, this new funding gives us more fuel to help liberate companies from having to deal with the capital and operation burden of the enterprise storage status quo.