Cloud storage technology provider Scality announced on Wednesday it has closed its series C funding round for $22 million, bringing its total investment capital to $35 million.
The round was led by Menlo Ventures and Iris Capital, with participation from FSN PME and all existing investors, including Idinvest Partners, OMNES Capital and Galileo Partners.
Scality says it will use proceeds from the funding to “strengthen its worldwide sales and marketing initiatives targeting enterprise and service provider markets, and to increase investment in its world-class R&D team.”
The company has seen significant growth in customer adoption, achieving 400 percent sales growth year over year.
Customers deploy Scality’s software to provide large-scale storage for cloud, big data, and backup and archive applications.
The company’s customers include four of the top ten cable operators in the US, the second largest Telco in France, leading portals in Italy, Germany, and UK, and several mobile operators in Japan.
More recently, Scality entered the media and entertainment market, and just signed RTL, a large media group in Europe, for its video-on-demand offering.
“Our investors are a perfect match for the DNA of the company: They share our vision for the future of data storage and they understand the global market place,” said Jerome Lecat, CEO of Scality. “I have managed several start-ups, but this is the first time I have seen a 5x sales growth on an annual basis. A disruption is happening in the market and we are driving it. This is very exciting. We are going to continue growing and are recruiting to sustain this growth including increasing our investment in R&D.”
Are you currently offering a cloud storage solution to your customers? Do you think this latest funding round will help Scality to reach its sales and marketing goals?