CAMPBELL, Calif., Might 8, 2020 /PRNewswire/ — Panzura, creator of the quickest international cloud file system on the planet, at present introduced it has been acquired by enterprise capital agency Profile Capital Administration LLC, an funding administration agency famend for strategic progress investments within the IT sector. Phrases of the deal weren’t disclosed.
Coming off a document Q2 ending in April of over 50% income progress, Panzura will leverage important monetary sources and intensive enterprise networks supplied by Profile, to speed up market and worldwide enlargement, as enterprises demand flexibility and safety for his or her distant workforces.
Panzura has been capitalizing on information administration tendencies for the quick evolving ‘new regular’ of working from residence, and is acknowledged as a ‘Chief and Outperformer,’ within the GigaOm Radar for File-Primarily based Cloud Storage.1 The worldwide enterprise information administration market is predicted to develop from $77.9BN this 12 months to $122.9BN by 2025, at a Compound Annual Development Charge (CAGR) of 9.5%.2
Benjamin Chereskin, President and Founding father of Profile Capital Administration, has invested within the firm for long-term returns. “Now’s the time to put money into cloud storage, and Panzura — with its stellar applied sciences particularly engineered for cloud agility and the pliability enterprises mandate — is the appropriate firm to put money into for fast progress. We’re satisfied that Panzura’s market trajectory will speed up as companies modify to the brand new regular of distant working.”
Panzura’s patented expertise delivers real-time cloud-based file operations, together with file locking to stop overwriting or versioning, accelerating collaboration between distant employees, no matter location. This permits organizations to share information globally, with safety, in actual time.
Panzura’s military-grade safety assist for public, personal and ‘darkish’ clouds and immutable information structure retains cloud-based information secured and inherently safe from cyber-attacks. Constructed-in lively archive, enterprise-grade backup and catastrophe restoration maximize enterprise up-time and exchange providers usually supplied by a 3rd celebration, leading to operational efficiencies and financial savings.
As a part of the acquisition, Wealthy Weber, previously Chief Product Officer, will turn into President of Panzura and Jason Luehrs has been promoted to CFO. Jill Stelfox, serial entrepreneur and beforehand co-CEO of mid-market catalyst agency EDGY, will be a part of the group as Government Chairman and CEO. Former executives Patrick Harr and Steve Morgan have left the corporate to pursue their subsequent cloud ventures.
- Wealthy Weber mentioned: “Being acquired by Profile Capital is thrilling for Panzura, our clients, and workers. The sudden acceleration within the trajectory of enterprise distant working trajectory, from ‘good to have’ to ‘important’, is driving international IT investments in real-time collaboration with digital groups, enterprise continuity, and information safety, all of which we excel in. Our document progress signifies that enterprises want instruments like Panzura Freedom international cloud filer and Vizion.ai information analytics to assist a extra aggressive and pervasive use of cloud applied sciences, and I’m trying ahead to working with Ben and Jill to carry Panzura’s progress to the subsequent stage.”
- Jill Stelfox mentioned: “Panzura is making a profound affect on international enterprises, offering the cloud-first infrastructure that ensures enterprise can proceed as typical when individuals can’t, or don’t, come into the workplace. I am honored to steer an important group and highly effective accomplice community to scale the corporate to new heights.”
- Patrick Harr, former CEO, mentioned: “I’m very pleased with what the corporate and group achieved in delivering the primary multi-cloud file and analytics service with the trade’s highest internet promoter rating of 88 whereas migrating from a perpetual to a SaaS subscription mannequin. And, coming off a document quarter and shutting the sale of the corporate, I’m assured Profile and your complete group will proceed to speed up Panzura’s progress and prospects.”
About Profile Capital
Chicago, Illinois-based Profile Capital Administration is a enterprise capital agency based in 2009 to enhance on the monetary backing mannequin that constrains enterprise capital and personal fairness. The agency focuses on enterprise capital and progress investments within the info expertise and manufacturing sectors.
Panzura is the quickest international cloud file system on the planet and the chief in collaborative multi-cloud productiveness and information administration for international enterprises. It manages lots of of petabytes of knowledge within the cloud for firms within the healthcare, monetary providers, media and leisure, gaming, and architectural, engineering and development industries in addition to authorities companies. Go to panzura.com for extra info.
1 “GigaOm Radar for File-Primarily based Cloud Storage v 1.0 – Key Standards for Evaluating File-Primarily based Cloud Storage,” Enrico Signoretti, March 27, 2020, https://gigaom.com/report/gigaom-radar-for-file-based-cloud-storage/
2 “Enterprise Data Market By Component,” MarketsAndMarkets, 2020
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