US-based data software developer Scality closed a $45m series D round yesterday backed by IT infrastructure technology provider BroadBand Tower and led by venture capital firm Menlo Ventures.
The round also included all Scality’s existing investors, including Iris Capital, IdInvest Partners, Omnes Capital, Galileo Partners and the French state-backed Digital Ambition fund, as well as 65% of the company’s staff.
Scality’s Ring software provides storage it claims is 100% reliable, and which offers “unmatched” performance.
The company, which signed a strategic agreement with Japan-based BroadBand Tower in March this year, will use the cash to accelerate product development and expand internationally and at home, where it plans to increase its sales force and support its resellers.
Hiroshi Fujiwara, chairman and CEO of BroadBand Tower, said: “BroadBand Tower does not only resell technologies. We actively invest in new innovations and market disruptors to give our customers an edge in their businesses.
“Like server virtualisation and clustered [network attached storage] before it, software-based storage is a relatively new concept in Japan, and we wanted to be the first to bring it to the Japanese enterprise market. We believe that software-based storage is the future, and many Japanese companies across all vertical industries will benefit from it.”
Scality has now raised $80m since it was founded in 2009, $35m of which came from a July 2013 round featuring Menlo Ventures, Iris Capital, the French state-backed FSN PME, Idinvest Partners, Omnes Capital and Galileo Partners. The company said it has increased its revenue 400% since that round.