Cloud storage system pioneer Scality today announced a successful Series B round of funding led by IdInvest Partners (formerly AGF Private Equity) alongside its historical shareholders Crédit Agricole Private Equity, Galileo and Jerome Lecat, Scality’s CEO, to secure an additional US $7 million.
Scality will complement its San Francisco headquarters with an East Coast sales and services office in New York. Furthermore, Scality continues enhancing its unique distributed object-based storage platform, adding full multi-tenancy for Service Providers who want to offer Virtual Private Clouds, and new tiering algorithm for the Private clouds environments.
Scality’s total investment to date is $13 million. Its valuation doubled after a strong Series A round of funding in May 2010, thanks to the successful delivery of a complete email platform to cable operator Telenet for over 2 million users, and to the very strong sales pipeline.
“We have received considerable interest from potential investors as Scality is positioned in the heart of the cloud revolution, with object-based storage being at the early stages of Gartner hype curve,” said Lecat. “IdInvest, Crédit Agricole Private Equity and Galileo, who have financed several companies based in the Silicon Valley with R&D in France, are the perfect partners for us, with capacity to continue funding the growth of Scality and significant experience in the service provider market.”
Scality RING solves the urgent intransigent storage problems that SAN, NAS, or Unified vendors do not or cannot solve. Users receive equal or better reliability in addition to performance, with much greater scalability, simplified management, and lower total cost of ownership savings of more than 50% when compared to traditional SAN, NAS, or Unified solutions. Scality RING is a complete storage and data infrastructure system enabling ongoing cost savings and architecture rationalizations across the board.
“Cloud-scale IT means little if it doesn’t include a next-generation, cloud-scale storage infrastructure that can flex in-line with changing capacity and performance requirements in a highly efficient manner. Scality’s traction to date demonstrates that RING is already addressing some pretty thorny storage challenges in both public and private cloud environments; challenges that a growing number of organizations are starting to experience. The latest funding round is an important next step in helping Scality fulfill its undoubted potential.” said Simon Robinson from 451 Research.
“Scality is one of these rare projects where we find together an experienced management team, a proven technology, and a strong market opportunity,” said Baret, Partner at IdInvest, who joins the Board of Scality.
Crédit Agricole Private Equity
Renaud Poulard, Partner, Venture Capital
Matthieu Baret, Partner
François Duliège, Partner
Rose Ross, Omarketing
US: +1 781 519 0275
UK: +44 (0)208 255 5225
Crédit Agricole Private Equity
Martine Sessin-Caracci – email@example.com – +33 1 43 23 90 88
Scality is the developer of RING, an application centric cloud storage system which delivers the performance and high-availability of traditional SAN without the complexity, costs and operational problem, usually associated with large scale storage platforms.
Scality RING transforms commodity x86 server hardware equipped with any kind of storage (SSD, SCSI, SAS…) into a single namespace capable of handling billions of files, without any hassle of volume management or complex backup procedures. It easily scales up into the exabytes Scality RING is based on a patented object storage technology which delivers total control of storage through application driven tiering and data retention policies.
Scality is used as the core storage system by Service Providers for applications such as webmail for many millions of users; Cloud Storage-as-a-Service (STaaS); web services for business applications with very high performance expectations; and web services for Web 2.0 applications.
RING technology explained
The Scality RING platform creates a series of nodes that are built using off-the-shelf servers. Each node on the RING controls its own segment of the overall storage pool. By monitoring other segments and constantly replicating – as well as load balancing – the data, the storage becomes self-healing in the event of a drive or segment of the pool failing for whatever reason.
As well as supporting a “no single point of failure” storage pool, the resultant cloud storage service is available 24×7 to end user businesses with no service interruptions whatsoever.
For more information please visit www.scality.com or follow Scality on Twitter : @Scality.
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 100 professionals manages €3.3 billion with specific expertise in LBO & Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy and PPP Infrastructure. The 12-strong venture capital team manages €470 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).