GreenBytes Raises $8 Million from Battery Ventures

GreenBytes Inc., an Ashaway, R.I.-based developer of data storage appliances, has raised $8 million in Series A funding from Battery Ventures.

PRESS RELEASE

Battery Ventures today announced that it has completed an $8M Series A investment in Rhode Island-based GreenBytes® Inc., a developer of optimized data storage appliances.  GreenBytes’ storage appliances bring high performance inline deduplication to primary storage applications.  The GB-X family of storage appliances, which are being unveiled today, re-define price performance in the data-protection, VM-optimized and storage consolidation markets.  Additional detail about the technology can be found in today’s news release (or: www.green-bytes.com/data/File/GB-X%20Series%20Launch%20Release%20FINAL.pdf).

 

“Data is growing exponentially and choking data center 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-optimized 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 $20 billion 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,” said Bob Petrocelli, chief executive officer of GreenBytes. “We’re looking forward to delighting our customers and channel partners with our revolutionary take on deduplication and capacity-optimized storage.”

 

About GreenBytes, Inc.
GreenBytes, Inc. is a provider of high-performance, energy-efficient deduplication storage appliances. GreenBytes’ high-performance inline deduplicating storage appliances incorporate energy-efficient technologies and the industry’s highest levels of scalability and reliability in an easy-to-use, cost-effective package, designed to bring the benefits of data deduplication to the broader storage market. GreenBytes was founded in 2007 and is based in Ashaway, Rhode Island. For more information, visit: www.getgreenbytes.com.

 

About Battery Ventures

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.

 

Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (NASDAQ: AKAM), BladeLogic (acquired by BMC Software), Netezza (NYSE Arca: NZ), Omniture (NASDAQ: OMTR), and ProfitLogic (acquired by Oracle).  Its current portfolio includes such emerging firms as:  Angie’s List, Bazaarvoice, Exact Target, ITA Software, and Neocleus.  Battery currently manages more than $3B in committed capital.  For more information, visit: www.battery.com.