Cloud Storage Systems Developer Scality Raises $7M in VC
Scality, developer of application-centric cloud storage systems, has completed a Series B round of funding that netted the company $7 million. Leading this round was IdInvest Partners, formerly AGF Private Equity. And Scality is going to use $13 million of total VC funding to expand operations to the U.S. east coast and refine an offering for cloud service providers.
Right now, Scality operates out of San Francisco. But the company plans to use the new capital to open a sales and services office in New York, according to the press release. And Scality is going to invest in multi-tenancy for service providers that want to add virtual private clouds to their portfolio. The company also is looking into a new tiering algorithm for private cloud environments.
CAPE, Galileo and Scality CEO Jerome Lecat himself were also involved in this round of funding, but as the leading investor, IdInvest Partners is placing Matthieu Baret on the Scality Board of Directors. The financial draw, Scality says, is that the company has proven the strength of their solution. Apparently, true believers include Telenet, which depends on Scality for a 2 million user email platform. And the company claims its deal pipeline is strong as ever.
No doubt, 2011 has been rife with funding announcements for cloud storage startups, likely because of the belief that cloud storage is leading the way to cloud growth.
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