SanDisk Ventures, a venture unit of SanDisk Corp., said on Thursday that it has backed Panzura, a cloud storage solutions provider headquartered in Campbell, California. No financial terms were disclosed by the company.
Panzura uses flash memory for data storage off-premise in the "cloud" which cuts customer system, pooling, support services, power, cooling, and administration costs.
The company's recent Series D fundraiser saw SanDisk Ventures participate with Meritech Capital, Khosla Ventures, Matrix Partners, Opus Capital, and Chevron Technology Ventures.
Sumit Sadana, executive vice president and chief strategy officer at SanDisk commented on the backing, "Panzura's innovative global NAS cloud infrastructure solution offers numerous benefits compared to traditional on-premise NAS offerings."
When asked about the gained investment, chief executive officer and co-founder of Panzura Randy Chou said, "Panzura welcomes the opportunity to build a closer relationship with SanDisk."
"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," added Chou.
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