- 3 min
Bizanga Store becomes Scality and completes initial funding round with Crédit Agricole Private Equity and Galileo Partners
Paris, 10 June 2010
Bizanga Store becomes Scality and completes initial funding round with Crédit Agricole Private Equity and Galileo Partners.
Scality has announced the completion of the initial capitalization of the company in a US $5M (€ 4.2M) funding round led by Crédit Agricole Private Equity and Galileo, historic shareholders of Bizanga, which included business angels. Scality management and 85% of employees invested US $1.3M (€ 1.1M).
This marks the completion of the spin-out process following the acquisition of Bizanga by Cloudmark in Feb. 2010. Scality, previously named Bizanga Store, is a developer of massively scalable object storage software for email and cloud storage applications.
The company intends to use the funding to further accelerate its growth and to expand its US operations based in San Francisco. CA.
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 http://www.bizangastore.com/email-data-storage-solutions/ is massively scalable object-storage software http://www.bizangastore.com/scalable-data-storage-technology/ designed specifically for email storage at service providers and large enterprises.
Renaud Poulard, Partner at Crédit Agricole Private Equity and François Duliege, Partner at Galileo Partners, will be taking a seat on the Scality board.
“Together with Crédit Agricole Private Equity and Galileo which are supporting us since several years, we achieved superb returns in our prior company Bizanga and we look forward to success on a much larger scale with Scality. We anticipate raising a series B round in about 18 months to continue our global expansion said Scality CEO Jerome Lecat. “The technology we have designed and are implementing is supporting at a minimum one Exabyte of storage, which represents 20x the largest deployment on earth” he added.