Panasas delivers high-performance computing (HPC) data storage solutions and recently launched ActiveStor Ultra and PanFS 8, a new generation of its ActiveStor storage running on industry-standard commodity hardware. ActiveStor Ultra is a scale-out network-attached storage (NAS) appliance designed for extreme performance and scalable configurations. The platform targets workloads that process large, complex data sets, including climate modeling, computer-aided engineering simulation and analysis, energy exploration, precision medicine, and emerging AI and autonomous driving workloads. The company intends to use the new investment for ongoing technology and product development, expansion into new markets, and exploration of OEM relationships. Leadership cited in the article includes Faye Pairman (president and CEO) and Elliot Carpenter (CFO). Panasas, located in Sunnyvale, CA, provides hybrid scale-out NAS appliances (ActiveStor) optimized for demanding big data workloads. Its ActiveStor solutions leverage the patented PanFS storage operating system and are now in their fifth generation. Products are positioned to deliver high performance, reliability, and easy management across sectors including bioscience, energy, finance, government, media, manufacturing, and research universities. The company reports ActiveStor has been deployed in more than fifty countries worldwide. Panasas recently secured a $10 million working capital line of credit from Avidbank Corporate Finance to support execution on growth opportunities in scale-out storage. Company executives highlighted the tailored, flexible credit solution and a positive financial partnership with Avidbank. Panasas develops a parallel file system and ActiveStor appliance line designed to deliver high-bandwidth storage performance for simulations, modeling, oil & gas exploration, and product design. Its architecture provides parallel access to files—avoiding bottlenecks of serial NFS systems—and resembles unified memory approaches used in supercomputing. The company sells through major resellers including SGI and Dell and competes with NetApp, EMC, Sun, and IBM in the parallel storage market. Panasas was founded in 1999 by Garth Gibson (currently CTO), shipped first products in 2003, and is on its third-generation ActiveStor hardware. Products can store up to 200 terabytes per rack and support up to 100 petabytes in a single file system. The company is expanding its market for parallel storage systems and recently raised new funding to support that effort. Panasas is a data storage systems company based in Fremont, California. ORIX Venture Finance loaned Panasas $10 million in debt, according to VentureWire. Since 2000, Panasas has raised nearly $75 million. Past investors include Centennial Ventures, Intel Capital, Novak Biddle Venture Partners and the Carlyle Group. The financing was reported by VentureWire and the item was originally published 5/23.

Total raised

$45M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Jul 2014