Battery Ventures completes $8m Series A investment in data storage company GreenBytes

15 September 2009

US-based investment house, Battery Ventures has completed an $8m Series A investment in Rhode Island, US-based, GreenBytes, a developer of optimised data storage appliances founded in 2007.

‘Data is growing exponentially and choking data centre floors and IT budgets alike,’ said Sunil Dhaliwal, general partner, Battery Ventures, and new GreenBytes board member. ‘Customers will simply not stay afloat amid the rising tide of digital data unless they radically re-shape the traditional equation that governs the cost, performance, power consumption, and management of their storage. It is easy to see why GreenBytes’ capacity-optimised storage technology is a getting an excellent reception from customers, partners and industry analysts. This is a veteran team with a powerful technology, and we’re pleased to work alongside them as they pursue the fastest growing segment of the $20bn network storage market.’

‘We’ve hit an exciting set of milestones today with the announcement of Battery Ventures’ investment, and the introduction of our latest product line, the result of years of intensive R&D and work with customers,’ added Bob Petrocelli, CEO of GreenBytes. ‘We’re looking forward to delighting our customers and channel partners with our revolutionary take on deduplication and capacity-optimised storage.’

Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts.

Copyright © 2009 NewNet

Tags: energy storage, green IT

This story was published on Tuesday, September 15th, 2009 at 9:18 am and is filed under North America, deals, energy storage. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply