It appears to be the company’s fifth round of funding, although yesterday’s announcement termed it a “growth capital round” rather than a Series E.
Like Nasuni and Ctera, Panzura targets enterprises that are deploying hybrid clouds. Panzura’s service archives all data in the cloud but also keeps a fraction of it available locally in flash memory. It’s a common strategy, whereby everything gets saved in a low-cost medium, but the most actively used data is within arm’s reach.
“If you look at how quota structures and business models are built, it’s an on-premises storage model,” says Patrick Harr, Panzura’s CEO. “We keep 100 percent of the data in a cloud-based environment.”
Harr, who arrived in May, comes from a storage incumbent; he’d spent five years as a vice president with Hewlett Packard Enterprise (HPE).
His career has also taken him through VMware and a handful of storage startups. He was the founding CEO of Nirvanix, which made an early attempt at a cloud-storage service but shut down in 2013. (Harr had left for VMware in 2009.)
Panzura’s latest funding was led by Matrix Partners and also included Meritech Capital Partners, Opus Capital, Chevron, Western Digital, and an undisclosed strategic investor. Panzura, founded in 2008, raised $50 million in its series B through D rounds.