Panzura Raises $12M in Series B Funding
Published On December 7, 2010 |
Panzura, a San Jose, CA-based provider of cloud storage and application optimization products, has raised $12m in Series B funding.
The round was led by Khosla Ventures, with participation from existing Series A investor Matrix Partners. CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures LLC, joined the existing investors in this round.
John Hanten, a Venture Executive at Chevron Technology Ventures, has joined Panzura’s Customer Advisory Board.
The company, whose clients include large IT organizations across North America, intends to use the capital to expand Sales, Marketing and Support operations, as well as continuing R&D investment in its product line.
Founded in 2008, Panzura delivers innovative products that combine application logic with storage technology. According to the company, this application-centric approach to storage, termed Application Network Storage (ANS), provides solutions that are faster, cheaper and more secure than traditional approaches to Tier 1 Storage.