Last week, Scality, the French American company renowned for its storage ring, announced to have completed $45 million Series D funding round.
The latest funding round includes new strategic partner BroadBand Tower, Inc. (BBTower), all existing investors, led by Menlo Ventures, and 65% of the Scality staff, bringing the total investment in Scality to $80 million.
The funds will be used to increase its sales force in North America and to keep expanding internationally and supporting its resellers.
Since its last round of funding in July 2013 ($22million), the company’s revenue increased by 400%, the staff from 42 to 162 and major customers were announced, including Deluxe, Phoenix and RTL II. With the global resale agreement signed with Dell two weeks ago and the one with HP dating back to October 2014, Scality RING software is resold by more than 50% of the server market. From its last funding, Scality has significantly grown its presence in Europe and Asia Pacific, opening in 2015 a Japanese subsidiary, Scality KK, to address its Japanese customer base, followed by an office in Singapore. In January 2015, IDC named Scality a leader in object-based storage*. This year also marks the company’s expansion to the East Coast with the opening of Scality’s Boston Research and Development Center. To expand Scality’s market traction, and address the increase in customers who want to try Scality’s RING software, Scality released an online trial of the software in June, available to anyone at Scality.com/Trial.
“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. 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,” said Douglas C. Carlisle, Managing Director at Menlo Ventures.
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 enable enterprises and service providers to run multiple storage workloads in the same environment, and simplify installation for Scality partners and resellers.
With this latest round of funding, Scality will 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.