Bizanga Store becomes Scality and completes initial funding round
Scality has announced the completion of the initial capitalization of the company in a US $5M (€ 4.2M) funding round led by Crédit Agricole Private Equity and Galileo, historic shareholders of Bizanga, which included business angels. Scality management and 85% of employees invested US $1.3M (€ 1.1M).
This marks the completion of the spin-out process following the acquisition of Bizanga by Cloudmark in Feb. 2010. Scality, previously named Bizanga Store, is a developer of massively scalable object storage software for email and cloud storage applications.
The company intends to use the funding to further accelerate its growth and to expand its US operations based in San rancisco. CA.
Scality was founded with the goal of solving a very real and pressing problem of exponential storage demand for the World's largest Email and Internet service providers. Scality’s RING technology for Email is massively scalable object-storage software designed specifically for email storage at service providers and large enterprises.
Renaud Poulard, Partner at Crédit Agricole Private Equity and François Duliege, Partner at Galileo Partners, will be taking a seat on the Scality board.
“Together with Crédit Agricole Private Equity and Galileo which are supporting us since several years, we achieved superb returns in our prior company Bizanga and we look forward to success on a much larger scale with Scality. We anticipate raising a series B round in about 18 months to continue our global expansion said Scality CEO Jerome Lecat. “The technology we have designed and are implementing is supporting at a minimum one Exabyte of storage, which represents 20x the largest deployment on earth” he added.
Crédit Agricole Private Equity representatives
Michel de Lempdes, Director, Venture Capital, Crédit Agricole Private Equity
Xavier Brunaud, Associate, Venture Capital, Crédit Agricole Private Equity
Galileo Partners representatives
François Duliége, Partner
Investors legal advisor:
Cabinet Chammas et Marcheteau
Scality legal advisor:
Azam Darley & Associates
Crédit Agricole Private Equity
Martine Sessin-Caracci - email@example.com - +33 1 43 23 90 88
Lindsay Brown - Lindsay.Brown@scality.com - +33 1 7809 8270
Scality has developed a massively scalable storage platform providing significantly easier application deployment at a fraction of the cost of traditional storage. Delivered as a software solution, Scality can be deployed to enable email solutions for cable and telecom operators or as a system to enable and grow cloud storage services at hosting providers or other storageintensive services.
Scality sells direct to Internet service providers, cable operators, fixed-line, mobile operators and hosting companies and through Value Added distribution channels. The company has offices in Paris, San Francisco and Tokyo. www.scality.com
About Crédit Agricole Private Equity
Crédit Agricole Private Equity is an AMF-accredited asset-management subsidiary of Crédit Agricole, specialising in direct private-equity investment in non-listed companies. A multi-specialist player, Crédit Agricole Private Equity’s team of 95 professionals manages €3 billion with specific expertise in LBO & Expansion, Venture Capital, Mezzanine, Co- Investment, Renewable Energy and PPP Infrastructure.
The 12-strong venture capital team manages €430 million through FCPIs invested in young companies with high growth potential in 2 sectors: information technology and life sciences. Crédit Agricole Private Equity has signed up to the United Nations’ Principles for Responsible Investment (PRI). omnescapital.com