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SanDisk Ventures Invests In Cloud Storage Solutions Provider Panzura, Extending Enterprise Storage Focus

Stocks in this article: SNDK

SanDisk Corporation (NASDAQ: SNDK), a global leader in flash memory storage solutions, today announced its venture arm SanDisk Ventures, has invested in Panzura, a provider of flash-based network attached storage (NAS) solutions for enterprise companies. Panzura’s scalable offering uses flash memory to store data off-premise in the “ cloud,” reducing customer system, support, administration, power and cooling costs.

SanDisk participated in Panzura’s recent Series D funding round and joins Meritech Capital, Matrix Partners, Khosla Ventures, Opus Capital and Chevron Technology Ventures as Panzura backers. Specific financial terms of the SanDisk investment were not disclosed.

“Panzura’s innovative global NAS cloud infrastructure solution offers numerous benefits compared to traditional on-premise NAS offerings,” said Sumit Sadana, executive vice president and chief strategy officer of SanDisk. “Panzura is another excellent example of the important role flash memory is playing in the transformation of the enterprise.”

Panzura optimizes enterprise data storage management and distribution in the cloud, making storage simpler and more secure. Panzura’s global cloud storage solution combines the flexibility, performance and productivity benefits of distributed storage with the manageability, security and cost benefits of centralized storage. With Panzura, the physical location of where data resides no longer affects how it is used. Additional information regarding Panzura may be found at panzura.com.

“Panzura welcomes the opportunity to build a closer relationship with SanDisk,” said Randy Chou, CEO and co-founder of Panzura. “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.”

About SanDisk Ventures

SanDisk launched SanDisk Ventures in 2012 with the goal of investing $75 million over a three-year period in select companies with promising technologies that extend the value proposition of flash memory in targeted applications. By collaborating with SanDisk, companies like Panzura gain access to SanDisk’s broad product portfolio and world-class technical expertise, as well as expanded customer and channel opportunities.

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