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C-round greenbacks for Greenbytes

First in flash-optimised virtual storage appliances

Internet Security Threat Report 2014

VDI flash array HW and SW supplier Greenbytes has snagged $7 million in C-round funding.

The funding comes from existing investors Generation Investment Management and Battery Ventures. It will be used "to continue the expansion and acceleration of global sales, marketing and partner development efforts, and for ongoing research and development of its … deduplication technology."

Greenbytes' timeline:

  • Founded in 2007 by Bob Petrocelli
  • May 2012 - $12 million B-round taking total funding to $30 million
  • July 2012 - Steve O'Donnell becomes exec chairman
  • November 2012 - Steve O'Donnell becomes CEO, retaining the chairman role. Bob Petrocelli becomes CTO
  • March 2013 - $7 million C-round taking funding total to $37 million.

O’Donnell said: “This additional funding enables us to step up sales and marketing programs as we expand our solution into additional global territories and experience deeper market penetration.”

He added: "GreenBytes has experienced explosive growth and intense interest from the rapidly expanding desktop virtualisation market, and it is the first-mover in the flash-optimised virtual storage appliance market."

This additional funding is a vote of confidence in O'Donnell's leadership and, if things go well, we might have a Greenbytes IPO in 2015 or so. ®

Internet Security Threat Report 2014

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