Panzura Raised $12 Million

Panzura, Inc. has raised $12 million in a Series B funding round led by Khosla Ventures of Menlo Park, California. Existing Series A investor Matrix Partners also participated in the round. CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, joined the existing investors in this round.

The funding will be used to expand sales, marketing and support operations at Panzura, as well as continuing R&D investment in Panzura’s market-leading product line. These application-aware products are deployed today in Fortune 500 IT organizations across North America, enabling an opportunity for cost savings and performance improvements for such mission-critical applications as cloud storage, data backup and disaster recovery, global file sharing and deduplication, and significantly improving the performance of applications such as Microsoft SharePoint.

"No company in the nascent cloud storage space has shown the level of product innovation, sales traction, and customer satisfaction as Panzura," noted Shirish Sathaye, General Partner of Khosla Ventures. "I look forward to working with the company to extend its already impressive lead in this exciting market."

"Since its inception in 2008, Panzura has shown a remarkable level of innovation and execution," said Andrew Verhalen, General Partner of Matrix Partners. "Their focus on customer needs has put Panzura head-and-shoulders above the competition in the cloud storage market. Continuing leadership in R&D will enable them to provide solutions that are more secure and cost effective than existing Tier 1 storage options."

"We are very excited to have the backing of these top-tier investors," states Randy Chou, Co-Founder and CEO of Panzura. "Our application-aware approach to enterprise storage and application acceleration has created a great deal of customer demand. This investment, along with the expertise of Khosla, Matrix and Chevron Technology Ventures, will allow us to continue to lead the evolution of this exciting market."

John Hanten, Venture Executive for Chevron Technology Ventures, has joined Panzura’s Customer Advisory Board.  

Panzura delivers products that take a unique approach to traditional storage, termed Application Network Storage (ANS). By combining application logic with storage technology, Panzura is able to provide solutions that are faster, cheaper and more secure than traditional approaches to Tier 1 Storage.

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