Data Management Platform Panzura Raises $80m

Two years on from being 'refounded', San Jose, California-based cloud data management specialist Panzura has raised $80m in Series B funding. The firm says it will scale operations to service enterprise customers, and plans to add more than 150 new team members by the end of this year.

Panzura's software helps clients store their data safely in the cloud, against cyber threats including ransomware; and to manage and manipulate it at scale using AI and machine learning. Its unified platform promises simplified data management, advanced analytics, reduced operational complexity and improved security.

Two years ago this month CEO Jill Stelfox and CRO Dan Waldschmidt led an asset purchase and took over the running of the company; and rapid growth has ensued, with seven new products launched and a 200% increase in ARR alongside 97% customer retention. The reset centred around 'an equitable, performance-focused culture that is also compassionate', according to Stelfox, who comments: 'Our people are everything. That's why we reset salaries to be gender-equal, freed staff from a traditional office by allowing perpetual remote work, and gave each employee $5,000 to use on a career coach'.

The latest funding comes from female-led teams at Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors; and CIBC Innovation Banking.

Web site: www.panzura.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.