Scality, a provider of software-based storage aimed at capacity-driven workloads such as cloud hosting services, video, and enterprise archiving, has completed a $45 million Series D funding round. Scality will use the funds to continue to increase its salesforce in North America, continue to expand internationally and actively support its resellers.
With this latest round of funding, Scality will also continue to accelerate existing product development efforts and bring more research to market in the areas of multi-geo services, file/object interoperability, and security. The latest funding round includes new entrant and strategic partner BroadBand Tower, Inc., all existing investors, led by Menlo Ventures, and 65% of the Scality staff, bringing the total investment in Scality to $80 million.
Since its last round of funding in July 2013, Scality has increased its revenue by 400%, grew its staff from 42 to 160, announced major customers, including most recently Deluxe, RTL II, and Phoenix, and signed major distribution agreements. With the signing of a global resale agreement with HP in October 2014, with Dell last week, as well as other relationships with server manufacturers, a significant part of the server market is reselling Scality RING software.
Earlier this year, Scality announced general availability of version 5.0 of the RING, bringing its scalable, software-defined storage platform to the next level by introducing unified file, object and OpenStack storage capabilities that would enable enterprises and cloud hosting services providers to run multiple storage workloads in the same environment, and simplify installation for Scality partners and resellers.
“There’s no doubt in my mind that today, Scality is the biggest disruptor of the traditional storage industry, and I am extremely excited to witness their progression,” said Douglas C. Carlisle, Managing Director at Menlo Ventures. “Their innovative storage model is meeting demand for scale like no other product on the market, and is poised to keep up with the steep incline in data volumes. With Jerome’s forward-thinking mindset, we expect to see Scality continue to be a trailblazer and to take its RING technology to the next level.”
Strong Value Proposition
Over the past two years, Scality has significantly expanded its European and Asia Pacific presence and in 2015, following a record 2014, opened a Japanese subsidiary, Scality KK, to address the company’s growing Japanese customer base, as well as an office in Singapore.
“Based on our extensive analysis, Scality is a leader in object-based storage – a market that represents $21.6 billion in 2015, and is growing 21.5 percent annually,” said Ashish Nadkarni, Research Director, IDC. “Scality is unique in how its solution blends the file and object technologies that are required to bridge new and existing customer needs. This new funding round is further validation of Scality’s strength in the market and strong value proposition.”