MILPITAS, Calif.--(BUSINESS WIRE)--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.
SanDisk Corporation (NASDAQ: SNDK) is a global leader in flash memory storage solutions, from research and development, product design and manufacturing to branding and distribution for commercial and retail channels. Since 1988, SanDisk's innovations in flash memory and storage system technologies have provided customers with new and transformational digital experiences. SanDisk's diverse product portfolio includes flash memory cards and embedded solutions used in smart phones, tablets, digital cameras, camcorders, digital media players and other consumer electronic devices, as well as USB flash drives and solid-state drives (SSD) for the computing market. SanDisk's products are used by consumers and enterprise customers around the world.
SanDisk is a Silicon Valley-based S&P 500 and Fortune 500 company, with more than half its sales outside the United States. For more information, visit www.sandisk.com.
© 2013 SanDisk Corporation. All rights reserved. SanDisk is a trademark of SanDisk Corporation, registered in the United States and other countries. Other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s).
This press release contains certain forward-looking statements, including expectations for markets and investments that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: the companies and technologies in which we invest may not perform in accordance with our expectations and risks detailed from time-to-time in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent quarterly report on Form 10-Q and our annual report on Form 10-K. We do not intend to update the information contained in this news release.