ASHAWAY, RI and LONDON -- (Marketwire) -- 05/29/12 -- GreenBytes®, Inc., a developer of high-performance, energy-efficient inline data deduplication storage solutions based on solid state disk (SSD) technology, today announced that it has raised an additional $12 million in Series B funding from Generation Investment Management LLP with participation from Battery Ventures and GreenBytes management. GreenBytes will utilize the funding to expand and accelerate global sales, marketing and channel development efforts, and for ongoing research and development of its patented solid state storage technology found exclusively in the company's Solidarity, HA-3000 and GB-X Series of globally optimized storage arrays.
Hyper-performant and energy-efficient, SSD-based storage solutions are causing a dramatic shift in the data storage marketplace with their ability to provide the required IOPS (Input/Output Operations Per Second) to satisfy the performance requirements demanded by today's primary storage and virtualization applications such as virtual desktop infrastructure (VDI) and Big Data. Traditional hard disk drive (HDD) solutions based on magnetic spinning disk can no longer keep up. GreenBytes has architected a purpose-built and cost-effective next-generation storage solution that replaces magnetic spinning disk with SSD and delivers the mission-critical IOPS that IT managers require to meet the emerging challenges in today's data center.
GreenBytes technology features the proprietary GreenBytes GO OS (Globally Optimized Operating System) that includes enterprise-scale capacity optimizations such as compression and the company's patented high-performance inline deduplication (deduplication processing at the time of data ingest) for primary data. A specialized data structure and search algorithm enables a proprietary deduplication capability that delivers the same high performance with hundreds of terabytes in a datastore as it would with just a few megabytes. Unlike competing solutions, GreenBytes technology delivers the necessary IOPS with deduplication, compression and other optimizations enabled, thus, users receive integral capacity optimization benefits without paying a performance penalty.
'The explosion in the volume of digital data, combined with the performance demands of I/O-intensive applications such as virtualization and analytics, has escalated data storage to a mission-critical level,' said Greg Wasserman, Partner at Generation Investment Management. 'Legacy storage technology and data centers with tightening power and rack space budgets simply cannot keep pace with today's demands. With its cutting-edge utilization of innovative software optimizations and solid state technology, GreenBytes has engineered a storage platform that delivers a truly impressive mix of performance and price, while simultaneously reducing the energy intensity of data. Generation looks forward to working with the GreenBytes team to drive the adoption of flash storage in the SME, cloud and enterprise arenas.'
'Primary storage optimization is accelerating the viability of flash storage in the enterprise, and we expect magnetic storage will be replaced with SSD technology faster than most analysts now predict,' said Bob Petrocelli, CEO and CTO of GreenBytes. 'Generation Investment Management is a dynamic investment group with a commitment to aligning with companies that are innovating for a sustainable future, and we look forward to a strategic partnership with Generation in our ongoing mission to help reduce the carbon footprint of information.'
About GreenBytes, Inc.
GreenBytes, Inc. is a provider of high-performance, energy-efficient inline data deduplication storage solutions based on Solid State Disk (SSD) technology. Designed for high availability (HA) primary storage and virtualization environments, GreenBytes technology features a next-generation, purpose-built solid state storage array with integrated Globally Optimized (GO) software that drives flash storage adoption for small and medium enterprises (SME). GreenBytes was founded in 2007 and is based in Ashaway, Rhode Island, USA. For more information, visit: www.getgreenbytes.com.
About Generation Investment Management LLP
Generation Investment Management LLP is dedicated to long term investing, integrated sustainability research, and client alignment. It is an independent, private, owner managed partnership founded in 2004 by Al Gore and David Blood, with offices in London and New York. Generation seeks superior performance by taking a long-term investment view and integrating sustainability research within a rigorous fundamental analysis framework. The sustainability research plays an important role in forming its views on the quality of the business, the quality of management and valuation. Its performance fees align its interests with that of its clients by being based on long term performance. Generation Investment Management LLP is authorised and regulated in the United Kingdom by the Financial Services Authority.
GreenBytes and the GreenBytes logo are registered trademarks of GreenBytes, Inc. All other product names and trademarks are the property of their respective firms.
For additional information, contact:
Richard Campbell/Claire Aslett
Capital MSL on behalf of Generation Investment Management
+44 (0) 207 307 5330