Bizanga Store" Becomes "Scality" an Object Storage Software Company and Completes Series A FundingBy Scality, PRNE
Sunday, June 6, 2010
PARIS, June 7, 2010 - Bizanga Store, the developer of massively scalable object storage
software for email and cloud storage applications today announced its
transformation into "Scality" as the new company and brand name. Scality
further announced the completion of the initial capitalization of the company
in a US $5M funding round led by institutional investors Credit Agricole
Private Equity and Galileo that included business angels, Scality management
Scality was founded with the goal of solving a very real and pressing
problem of exponential storage demand for the World's largest Email and
Internet service providers. Scality's RING technology for Email
www.bizangastore.com/email-data-storage-solutions/ is massively
scalable object-storage software
specifically for email storage at service providers and large enterprises.
In the funding round, management and employees invested US $1.3M, with
85% of employees electing to invest. Institutional investors are:
- Credit Agricole Private Equity is one of the leading players in the French VC market. With EUR 430 M under management, its team is dedicated to support the development of young high potential companies in the technology and life Sciences sector. Partner Renaud Poulard will be taking a seat on the Scality board. - Galileo, one of the first and most experienced VC funds in France will be represented by partner Francois Duliege. Francois, who served as VP Worldwide for the PC division at Computervision, based in San Diego, later founded and led to success Net4Music; Francois brings operational experience. He also holds seats on the Boards of Virtuoz and Talend; both of these companies operate in France and Silicon Valley.
Legal Advisers for Scality were Azam Darley & Associates, while Chammas
& Marcheteau represented the institutional investors.
The company intends to use the funding to further accelerate its growth
and to expand its US operations based in San Francisco, CA.
"Together with Credit Agricole Private Equity and Galileo we achieved
superb returns in our prior company Bizanga and we look forward to success on
a much larger scale with Scality," said Scality CEO Jerome Lecat. "We
anticipate raising a series B round in about 18 months to continue our global
expansion," he added.
This marks the completion of the spin-out process following the
acquisition of Bizanga by Cloudmark in Feb. 2010. BizangaStore was created as
an interim company name for the spin-out venture until a suitable company and
brand name was found.
The search for the new name was a team-driven process, involving staff
members and personal investors in the company. "A panel made up of customers,
partners and investors settled on Scality in the final round as it reflects
the guiding principle in the design of the product," said Serge Dugas,
Scality's Chief Sales and Marketing Officer and Co-Founder. "We expect that
it will become synonymous with extremely scalable, sustainable and high
performance software storage solutions.
CEO Jerome Lecat added. "This name became an obvious choice as it
embodies the very DNA of the company. My former boss John Sidgmore - who led
UUNET from US$30 M to US $3Bn revenue in 5 years - used to say at every
opportunity: 'If a technology cannot support 20x our needs today, do not
deploy it.' He was my mentor and his saying is our mantra, our idea of
scaling: 20x the largest deployment on earth. Today, that translates to
supporting at a minimum one Exabyte of storage. This is the technology we
have designed and are implementing."
Scality has developed a massively scalable storage platform providing
significantly easier application deployment at a fraction of the cost of
traditional storage. Delivered as a software solution, Scality can be
deployed to enable email solutions for cable and telecom operators or as a
system to enable and grow cloud storage services at hosting providers or
other storage-intensive services.
Scality sells direct to Internet service providers, cable operators,
fixed-line, mobile operators and hosting companies and through Value Added
distribution channels. The company has offices in Paris, San Francisco and
For more information, please contact Scality France 16 Passage Jouffroy, 75009 Paris, France Telephone: +33-1-7809-8270 Lindsay.Brown@scality.com Scality USA Monique Modica 50 California Street, Suite 3200, San Francisco 94111 Telephone: +1(650)356-8500 Monique.Modica@scality.com Scality Japan Tensho Yoyogi Building, S201 Yoyogi 1-30-15, Shibuya-ku, Tokyo, 151-0053 Info.firstname.lastname@example.org
For more information, please contact: Scality France, 16 Passage Jouffroy, 75009 Paris, France, Telephone: +33-1-7809-8270, Lindsay.Brown at scality.com; Scality USA, Monique Modica, 50 California Street, Suite 3200, San Francisco 94111, Telephone: +1(650)356-8500, Monique.Modica at scality.com; Scality Japan, Tensho Yoyogi Building, S201, Yoyogi 1-30-15, Shibuya-ku, Tokyo, 151-0053, Info.tokyo at scality.com
Tags: France, June 7, Paris, Scality