DEVOPSdigest

Panzura has been acquired by venture capital firm Profile Capital Management LLC, an investment management firm renowned for strategic growth investments in the IT sector. Terms of the deal were not disclosed.

Panzura will leverage significant financial resources and extensive business networks provided by Profile, to accelerate market and international expansion, as enterprises demand flexibility and security for their remote workforces.

Benjamin Chereskin, President and Founder of Profile Capital Management, has invested in the company for long-term returns. “Now’s the time to invest in cloud storage, and Panzura — with its stellar technologies specifically engineered for cloud agility and the flexibility enterprises mandate — is the right company to invest in for rapid growth. We are convinced that Panzura’s market trajectory will accelerate as businesses adjust to the new normal of remote working.”

Panzura’s patented technology delivers real-time cloud-based file operations, including file locking to prevent overwriting or versioning, accelerating collaboration between remote workers, regardless of location. This allows organizations to share data globally, with security, in real time.

Panzura’s military-grade security, support for public, private and ‘dark’ clouds and immutable data architecture keeps cloud-based data secured and inherently protected from cyber-attacks. Built-in active archive, enterprise-grade backup and disaster recovery maximize enterprise up-time and replace services typically provided by a third party, resulting in operational efficiencies and savings.

As part of the acquisition, Rich Weber, formerly Chief Product Officer, will become President of Panzura and Jason Luehrs has been promoted to CFO. Jill Stelfox, serial entrepreneur and previously co-CEO of mid-market catalyst firm EDGY, will join the organization as Executive Chairman and CEO. Former executives Patrick Harr and Steve Morgan have left the company to pursue their next cloud ventures.