SanDisk Corporation (SNDK) Invests In Cloud Storage Company Panzura
Flash memory storage company SanDisk Corporation (NASDAQ: SNDK) has announced that they have invested in Panzura. The investment was made through SanDisk’s venture capital arm SanDisk Ventures. Panzura is known for being a provider of flash-based network attached storage (NAS) solutions for enterprise companies.
Panzura is known for using flash memory to store data in the cloud. SanDisk participated in Panzura’s Series D funding round with Meritech Capital, Matrix Partners, Khosla Ventures, Opus Capital, and Chevron Technology Ventures.
“Panzura’s innovative global NAS cloud infrastructure solution offers numerous benefits compared to traditional on-premise NAS offerings,” stated SanDisk’s EVP and chief strategy officer Sumit Sadana. “Panzura is another excellent example of the important role flash memory is playing in the transformation of the enterprise.”
SanDisk launched SanDisk Ventures in 2012 and has a goal of investing $75 million through 2015. Panzura will gain access to SanDisk’s broad product portfolio and technical expertise.