SanDisc Ventures, the corporate venturing arm of flash memory storage company SanDisc, has announced that it participated as one of the investors in Panzura, US-based provider of cloud storage services, which in June raised $25m in its series D round from a consortium including Chevron Technology Ventures (CTV), the corporate venturing unit of the eponymous oil major. Venture capital firm Meritech Capital Partners led the D round, which also included VC peers Matrix Partners, Khosla Ventures and Opus Capital.
Sumit Sadana, executive vice president and chief strategy officer of SanDisk, said: “Panzura’s innovative global NAS cloud infrastructure solution offers numerous benefits compared to traditional on-premise NAS offerings. Panzura is another excellent example of the important role flash memory is playing in the transformation of the enterprise.”
Randy Chou, chief executive officer and co-founder of Panzura, said: “SanDisk’s technical expertise and market presence will be invaluable as we continue our focus on growing our business in the cloud storage controller market.”
Panzura previously raised about $33m. In June last year, CTV helped US-based cloud storage company Panzura raise $15m in its C round and also backed Panzura’s$12m series B round in 2010.