CloudByte
Raises New Funding to Meet Increasing Customer Demand in the Cloud
Service Provider and Enterprise Private Cloud Markets
Fidelity Worldwide Investment Leads Series B Funding Round to Help Storage QoS Company Expand
CloudByte,
the first company to guarantee quality of service (QoS) to every
application from a shared
storage platform, announced today that it has raised $4 million in its
second round of funding, bringing the total funding to $6.1 million. The
Series B funding round was led by Fidelity Growth Partners India, the
private equity arm of Fidelity Worldwide Investment
(Fidelity), with participation from existing investors Nexus Venture
Partners and Kae Capital. Funds from this new investment will be used
for expanding global sales and marketing in addition to product
development. Headcount additions will help the company
support the growing customer demand and increase the market awareness
of its award-winning software-defined storage solution. Raul Rai,
managing director with Fidelity Growth Partners India, will be joining
the CloudByte board of directors.
“We
are very pleased to be part of the ongoing CloudByte success story,”
said Raul Rai. “The company’s leading-edge ElastiStor storage
technology, shipping since January, and its
applicability for both cloud storage providers and enterprise private
clouds helped us make this investment decision. As part of our
diligence, we also observed that CloudByte has achieved greater traction
than companies that have raised much larger rounds
of funding. It is refreshing to see what CloudByte has accomplished in a
short period of time and we are looking forward to the company’s
continued success and expansion into new markets.”
“As
an early investor, it has been exciting to see the company’s growth and
customer adoption. As a large storage user, Fidelity has a deep insight
in this space and we are excited
to have them join us as an investor in the company,” said Sandeep
Singhal, co-founder of Nexus Venture Partners. “The storage industry is
experiencing a fundamental shift to a software-based model, giving both
cloud service providers and enterprises the flexibility
and scale they need without compromising performance and other high-end
features. CloudByte’s patented storage QoS solution gives its customers
the ability to deliver scalable on-demand performance from commodity
storage components, both HDDs and SSDs, for
a range of application needs.”
“CloudByte
has put together a world-class management team. We are delighted to
participate in this round of funding along with Nexus and Fidelity,”
said Sasha Mirchandani, founder
and managing director of Kae Capital. “CloudByte has disrupted the
traditional storage space by developing next-generation storage
technology that makes it easier to afford and manage storage for
thousands of applications.”
CloudByte announced earlier this month the appointment of former SanDisk General Manager
Greg Goelz
as chief executive officer. CloudByte ElastiStor has been verified to
work with leading technology platforms, including
VMware ESXi, Citrix XenServer, and Citrix CloudPlatform, and is now
integrated with OpenStack block storage Cinder. The company continues
to receive industry recognition and most recently was recognized for its
innovation by TiEcon, Red Herring, and Network
Products Guide.
“The
support we have received from Fidelity, as well as our existing
investors, is a testimony to our tremendous market opportunity and the
success we are already having in this market,”
said Greg Goelz, chief executive officer of CloudByte. “While the all-flash discussion continues, our software approach
allows organizations to optimize
their infrastructure based on their requirements and select their
preferred storage components; today, most customers are just beginning
to deploy SSDs and economics is a key factor in
driving their storage solutions. We enable our customers to start with
the mix that is right for their business and continue to use CloudByte
to manage their storage as their business grows and needs change.”
Today,
CloudByte also announced a free perpetual license of its full-featured
storage software, ElastiStor, for up to 4 TB of storage. The software
can be downloaded at
http://cloudbyte.com/freetrial.aspx .
About CloudByte
CloudByte
is an award-winning software-defined storage company that offers
guaranteed quality of service (QoS) to every application from a shared
storage platform, allowing cloud service
providers and enterprises building private clouds to easily host
performance applications in the cloud. With CloudByte’s on-demand
performance management, cloud environments can easily scale to thousands
of applications while economically
guaranteeing performance for each application. Established in
2011 by technology executives from companies such as HP, IBM, NetApp,
and Novell, CloudByte is backed by Fidelity Worldwide Investment, Nexus
Venture Partners and Kae Capital. For more information,
go to www.cloudbyte.com,
www.facebook.com/cloudbyte, or
www.twitter.com/cloudbyteinc.
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