US-based cloud storage service provider Panzura has received $32m in series F funding from a consortium that featured petroleum company Chevron and hard drive manufacturer Western Digital.
The round was led by venture capital firm Matrix Partners and also featured Meritech Capital Partners, Opus Capital and an unnamed strategic backer.
Founded in 2008, Panzura provides hybrid cloud storage software to enterprise clients. The technology offers the flexibility, capacity and economics of traditional storage and enables companies to seamlessly migrate their data to the cloud.
The series F capital will go towards to strengthen Panzura’s market position. The company will also add offerings aimed at high-performance database and virtual workloads, big data analytics and the internet of things.
Panzura previously secured $25m in a 2013 series D round led by Meritech Capital and backed by Chevron Technology Ventures (CTV) and SanDisk Ventures, subsidiaries of Chevron and flash memory storage company SanDisk respectively, as well as Matrix, Khosla Ventures and Opus.
The company had previously raised a total of $33m in venture funding, including a $12m Khosla-led series B round in 2010 that included CTV subsidiary CTTV Investments and series A backer Matrix. All three returned for a $15m series C led by Opus two years later.