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Panasas Secures Fifth Round of VC Funding

panasasQuoting the parent article: “Enterprise storage is a market dominated by big companies.”  EMC, LSI and Netapp all have large market shares and deep pockets.  In walks Panasas, the little storage company that could.  According to VentureBeat, Panasas has officially secured its fifth round of venture capital funding to the tune of $25 million.  Considering the current state of the US economy, that’s pretty impressive.

This round of funding was led by Focus Ventures of Palo Alto.  It also included the likes of Mohr Davidow Ventures, Carlyle Venture Partners, Centennial Ventures and Northgate Capital Partners.

Much of the recent press featuring Panasas has outlined their participation as the storage partner in the LANL/IBM RoadRunner system.  Outside of IBM, Panasas has partnerships with other big name vendors in HPC, namely SGI and Dell.

For more info on the recent Panasas cash influx, read the full article here.

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  1. […] this is an issue. But not simply for them. Other folks in this market have had many many tranches, and aren’t at a self sustaining profitability […]

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