Crédit Agricole PE, Galiléo Partners et al. invest $5m in Scality
Scality has secured a $5m in a first-round of funding from Crédit Agricole Private Equity, Galiléo, business angels, management and employees of the company.
Scality, formerly known as BizangaStore, is a spin-out of Bizanga, launched in February 2010. Both Crédit Agricole Private Equity and Galiléo had already invested in Bizanga, and are aiming to achieve similar returns with Scality.
The company develops object storage software for email and cloud applications. Scality will use the funds to expand its US operations and further accelerate its growth. A second round of funding will be raised in 18 months to pursue that goal.
The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.
If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com
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