PRESS RELEASE

Two women vented their frustrations about bra shopping over coffee and then set out to redesign bra shopping in the way they would want to shop.

Today True&Co, an online intimates retailer, announces a service to fit women into the perfect bra online with no measuring tape. True&Co applies technology to determine which bras out of the hundreds of styles sold on their website are the best fit for each woman’s unique body shape.

“The busy, fashionable, always-online woman told us she wanted a new way to access great styles, great value and exceptional, personalized service. Starting today, we are delivering the best parts of the in-store experience – the expert counsel of a bra fitter and the ability to try on bras before she buys – to her doorstep,” said Michelle Lam, CEO and co-founder of True&Co. “This is just the beginning. Over the next year, we will continue to reinvent the way women shop, building an online destination for everything underneath the dress.”

After taking a two-minute online fit quiz at True&Co’s website, women browse a bra shop specifically created for them. They will see only the styles and sizes that are the best for them from more than 20 national and boutique brands, including Calvin Klein and Natori. Customers can then select five bras to try at home, paying only for the bras they want to keep and returning the rest, for free. True&Co tracks each customer’s specific purchasing history to recommend only the best items relevant to her.

“We built a personal shopping experience that is fun and easy for the customer. Behind the scenes, we baked the same unwritten rules that expert bra fitters use into code. A complex system, consisting of our algorithms, translation engine and Amazon-like recommendation system, creates more than 2,000 variations of body type that can be matched to our inventory.” said Aarthi Ramamurthy, head of product and co-founder of True&Co. “As a result, customers report that three out of the five styles in their bra box fit well.”

True&Co also announced today that it has received $2 million in its first round of funding from First Round Capital, SoftTech VC, Aileen Lee, Softbank Capital and former LinkedIn executive Ellen Levy.

“True&Co is part of an exciting new wave of e-commerce companies bringing great products and a delightful customer experience to the modern consumer,” said Aileen Lee, an investor in True&Co.from her new seed fund. “They have re-imagined the intimates shopping experience for the way women want to shop.”

“The team is applying technology in an unexpected way to solve a hard retail problem, leveraging algorithms and data that even the leading brands don’t have access to,” said Josh Kopelman, a managing partner at First Round Capital. “True&Co has identified a huge pain point in the $12B intimate apparel industry.”

True&Co will demo its online bra shopping service on stage at the D10 conference in Rancho Pales Verdes, California, on May 30, 2012.

About True&Co

True&Co has reinvented the way women buy intimates. By taking a fit-based approach to online bra retail, we’re replacing the uncomfortable fitting room experience with an online two-minute fit quiz and home try-on. Our algorithms then recommend and sell only the styles and the sizes that fit a woman’s specific body shape.

PRESS RELEASE

Spinelab AG, a privately held company, specialized in developing motion preserving stabilization systems for the spine, announced today that it has raised Swiss francs 4.7 million in a Series C financing round. Lead investors are BioMedInvest and VI Partners. Spinelab has raised Swiss francs 20 million since its first venture round end of 2006.

“Spinelab has rigorously documented the clinical performance of its flagship product, the motion preservation system Elaspine™, over the last three years. This new funds will allow Spinelab to initiate commercial activities in Europe and to complete the development of its second core product”, said Thomas Zehnder, President & CEO of Spinelab.

Gerard Moufflet, Chairman of Spinelab added: “With a strong database of over 100 documented clinical cases with Elaspine™ in Europe, Spinelab is poised to demonstrate the superior clinical benefits and to position Elaspine™ as a leading device in this field.”

About Spinelab
Spinelab’s core product Elaspine™ is a pedicle screw based posterior motion preservation system for thoracolumbar spine. The key element is an elastic polymer rod with a patented form-fit connection to a mono-axial pedicle screw head. The system makes use of the viscoelastic material properties of the polymer rod and acts similarly to a damper.

About BioMedInvest
BioMedInvest AG I is a healthcare-dedicated venture capital fund based in Switzerland, providing private equity financing to early- to mid-stage companies in Switzerland and neighbouring regions (Alpine Rim). BioMedInvest currently invests out of Fund II, which has a size of CHF 106 million and was closed in 2009.
About VI Partners
VI Partners is a Swiss venture capital firm currently managing the CHF 101 million Venture Incubator fund. Since 2002, VI Partners has invested in more than 30 technology-based companies many of them being highly promising spin-offs out of Swiss academic institutions.

PRESS RELEASE

Sonian Secures $13.6 Million in Series C Funding to Simplify Cloud Archiving and Search

New Strategic Investor OpenView Venture Partners Joins Existing Investors Summerhill Venture Partners and Prism VentureWorks

Newton, Mass. — May 31, 2012 — Sonian™, the pioneer in cloud-powered archiving and search, today announced that it has secured $13.6 million in Series C funding. New strategic investor OpenView Venture Partners led the round, which included participation from existing investors Summerhill Venture Partners, and Prism VentureWorks. The investment — which marks nearly $27 million raised to date — will be used to scale sales and marketing, and accelerate innovation of the company’s flagship cloud archiving products. In addition, Scott Maxwell, OpenView’s Founder and Senior Managing Director, will join Sonian’s Board of Directors.

Following four consecutive quarters of record growth and a doubling of its customer base in each of the past two years, Sonian’s innovative approach to cloud-based information archiving helps companies of all sizes overcome the many storage and operational challenges inherent in managing data in today’s digital world. The volume of e-mails alone grew by 500 percent over the last decade and Gartner expects the e-mail archiving market to reach $2.2 billion by 2014 — a 20 percent annual growth rate — with cloud-based solutions accounting for more than 50 percent of total market revenue.

Addressing this tremendous market opportunity, Sonian already supports more than 9,000 customer organizations with its single reference architecture running across multiple public clouds. The company has quickly established itself as a public cloud pioneer and innovator for its scalable, channel-ready solution for storage management, regulatory compliance, and eDiscovery.

By pairing its innovative solutions with one of the strongest channel partner networks in the cloud industry, Sonian enables its rapidly expanding customer base of Fortune 1000 enterprises and small- and medium-sized businesses in financial services, healthcare and other information-intensive sectors to accelerate their transition to the cloud. Other recent highlights include:

•    Key partnerships with Independent Systems Integrators (ISI) and Tech Data Corporation (NASDAQ: TECD)
•    The January 2012 acquisition of Webroot’s Email Archiving business, extending the company’s email archiving capabilities
•    Industry accolades and recognitions including anAlwaysOn OnDemand Top 100 award and inclusion in the December 2011 Magic Quadrant for Enterprise Information Archiving by Gartner, Inc.
•    Expanding its global reach and support with the opening of its EMEA office in the UK

“We are excited to work with Sonian,” said Maxwell. “It’s a dynamic company that is capitalizing on the opportunities that Big Data presents by offering a cost-effective, scalable e-mail archiving solution that maximizes the benefits of the cloud. Almost every company faces challenges regarding mailbox management and many of them are looking for a cloud-based solution like Sonian’s.”

“Sonian has enjoyed a very successful year, as validated by our customers, partners and industry analysts,” said Jeff Dickerson, CEO of Sonian. “Our number of customers has more than doubled to nearly 10,000 and these organizations are currently ingesting over 14 million documents a day; we have added over 35 new partners such as IBM, ISI and Tech Data; Gartner has strategically placed us in the Magic Quadrant; and we now run on multiple public clouds such as Amazon, IBM and RackSpace. By teaming OpenView with our current backers, Summerhill and Prism, we now believe that Sonian is properly positioned to exceed our goal of archiving and making searchable, the world’s digital information.”

Follow Sonian, Additional Resources
Blogs: http://blog.sonian.com/, http://blog.sonian.com/cloud-buzz-blog/
Twitter: @sonian
Facebook: https://www.facebook.com/sonian
Video: http://www.sonian.com/resources/#6

About Sonian
Sonian’s cloud-powered information archiving platform enables organizations to address eDiscovery needs, achieve regulatory compliance, and reduce IT costs. Sonian’s archiving services can be deployed in minutes, require no hardware or software, and are compatible with many email, instant messaging, and social media systems. Sonian provides the only archiving offerings in the market built from the ground up using advanced cloud computing technologies. Over 9,000 customers benefit from Sonian’s industry-leading security, performance, and usability. Boasting strong partnerships with the world’s leading technology companies, Sonian combines innovative technology with deep archiving expertise to satisfy customers of all sizes and industries. For more information, please visithttp://www.sonian.com/.

About OpenView Venture Partners
OpenView Venture Partners (www.openviewpartners.com) is an expansion-stage venture capital fund based in Boston that is focused on high-growth software, Internet, and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies quickly optimize their product, go-to-market, and organizational and operational functions. Founded in 2006, the firm invests globally and has approximately $445 million in total capital under management.

PRESS RELEASE
Experienced Medical Technology Executive John Bowers Joins Kona as Chief Operating Officer
Kona Medical, Inc. ( www.konamedical.com ) today announced it has raised $30 million in Series C financing to advance its novel hypertension therapy. Existing investors Essex Woodlands, Domain Associates, Morgenthaler Ventures and BioStar Ventures participated and the financing was led by a large-cap medical technology company. The terms of the financing provide for the potential inclusion of additional investors. The company also announced that John Bowers, former Senior Vice President at SonoSite, Inc., has joined the company as Chief Operating Officer.
Based in Bellevue, Washington, Kona Medical is developing an ultrasound-based approach to address severe high blood pressure (hypertension) through ablation of the renal nerves. Renal nerves are located proximal to the renal arteries, which provide blood flow to the kidneys. Renal nerves are part of the sympathetic nervous system and play a significant role in determining blood pressure. Recent clinical data have shown that ablation of renal nerves can result in profound and lasting reduction in hypertension in patients whose blood pressure is not adequately controlled by medication. Industry analysts have forecast that the future market for devices to effect renal denervation may reach several billion dollars worldwide. Kona’s proprietary technology, which utilizes externally delivered ultrasound energy to ablate the renal nerves, can enable non-invasive treatment for drug-resistant hypertension and has significant potential advantages over alternative methods.
“I am pleased to have leading healthcare investors recognize the tremendous potential of Kona’s therapy in addressing the hundreds of millions of people worldwide who have uncontrolled hypertension,” said Michael Gertner, MD, founder and Chief Executive Officer of Kona Medical. “We are also delighted to have John Bowers join the Kona team to provide additional leadership during this important period for the company.”
John Bowers is an experienced medical device executive who most recently was Senior Vice President for North America and Strategic Development at point-of-care ultrasound leader SonoSite, Inc. (recently acquired by Fujifilm). Previously, Bowers was CEO of Northstar Neuroscience and held various executive roles at Guidant Corporation and Eli Lilly and Company. While at Guidant, Bowers led the team that acquired enabling technologies for the XIENCE drug-eluting stent, which is now marketed by Abbott and is the worldwide market share leader.
Kona Medical will use proceeds from the financing to fund clinical trials and to add staff in both Bellevue and the San Francisco Bay Area as it advances its technology into commercial development.
About Kona Medical
Kona Medical is committed to alleviating the suffering and health risks associated with drug-resistant hypertension with a more effective, less invasive approach to renal artery denervation. The company was founded in 2009 by Michael Gertner, MD, with seed financing from Essex Woodlands. Kona was formed on the basis of combining Dr. Gertner’s inventions in the field with the assets of Therus Corporation, a predecessor company in the field of therapeutic focused ultrasound.
About Hypertension
Hypertension (or high blood pressure) is a leading cause of death worldwide. It is a significant, growing global healthcare problem affecting over one billion people and is associated with an increased risk of heart attack, stroke, heart failure, kidney disease and death. According to the American Heart Association, over 75 million people in the USA alone have high blood pressure, and the economic costs exceed $50 billion annually. Despite public awareness and the availability of numerous pharmaceutical therapies, only about half of all treated hypertensive patients achieve adequate blood-pressure control. Moreover, between 10 and 20% of the hypertensive population is drug resistant, meaning that compliance to a regimen of several drugs does not result in adequate blood pressure control. There are over 10 million drug-resistant hypertension patients in the USA and hundreds of millions of patients worldwide who could benefit from an effective therapy.
For additional information, please visit www.konamedical.com .
Note: Kona Medical’s technology is investigational and is not yet for sale or approved by the US Food and Drug Administration.

PRESS RELEASE

Shutterfly, Inc. (NASDAQ:SFLY), a leading Internet-based social expression and personal publishing service, today announced that it has acquired Photoccino, a developer of ground breaking technologies for photo ranking, analysis and organization based in Haifa, Israel. Photoccino’s current employees will join Shutterfly and continue to be based in Haifa.
“We are focused on developing innovative solutions that make the product creation and sharing process easier for our customers”
Photoccino’s advanced image analysis and selection technologies will be integrated into products across the Shutterfly, Tiny Prints, Wedding Paper Divas, and Treat brands. With Photoccino’s capabilities, customers will be able to more efficiently organize and select the best photos from their ever-increasing archives so they can quickly and easily create photo books, calendars, cards, and photo gifts. Photoccino’s technology applies proprietary algorithms to analyze and evaluate the quality and content of photos, ranks them, and automatically creates photo products using the customer’s best images.
“We are focused on developing innovative solutions that make the product creation and sharing process easier for our customers,” said Jeffrey Housenbold, president and chief executive officer of Shutterfly. “Photoccino’s best in class technologies solve a common consumer pain point: analyzing and organizing the increasing number of stored digital photos. By combining their intuitive technology with our innovative product offering, we will exponentially improve the creative experience for our customers.”
“When we founded Photoccino in 2011, our goal was to build technologies that would facilitate image analysis, selection, and product creation for our users. Shutterfly presents us with the opportunity to achieve this at much greater scale,” said Moshe Bercovich, Photoccino co-founder and chief executive officer. “The two companies share a passion for helping people enjoy, share and preserve photos, and we are excited by the prospect of what we can accomplish together.”
About Shutterfly
Founded in 1999, Shutterfly, Inc. is an Internet-based social expression and personal publishing company and operates Shutterfly.com, Tiny Prints.com, Weddingpaperdivas.com andTreat.com. Shutterfly provides high quality products and world class services that make it easy, convenient and fun for consumers to preserve their digital photos in a creative and thoughtful manner. Shutterfly’s flagship product is its award-winning photo book line, which helps consumers celebrate memories and tell their stories in professionally bound coffee table books. Shutterfly was recently named one of the top 25 Best Midsized Companies to Work For by the Great Place to Work Institute. More information about Shutterfly (NASDAQ:SFLY) is available at http://www.shutterfly.com.

PRESS RELEASE

GRUBWITHUS RAISES $5 MILLION IN SERIES A FINANCING FROM GRP PARTNERS AND MICHEL DAHER

Venice, CA – May 30, 2012 – Grubwithus, Inc., the social dining network looking to take online connections offline over great food, today announced that the Company has secured a $5 million Series A investment round led by Los Angeles based venture capital firm, GRP Partners (“GRP”) with participation from Lebanese entrepreneur, Michel Daher.  The Series A venture funding follows a $1.6 million seed round raised in May 2011 through Y Combinator and a group of venture capital firms and angel investors including Ashton Kutcher, Andreessen Horowitz, First Round Capital, Aviv Nevo, and others. 

Launched in August 2010, Grubwithus is pioneering the “in real life” movement and quickly becoming one of the easiest ways to meet people offline.  Grubwithus allows users to easily create public and private meals, connect with like-minded people online and off, and establish meaningful relationships with other community members.  Meals have been held in nearly fifty different cities, including three international, and over the past six months, the Grubwithus userbase has nearly doubled. Grubwithus has 14 full-time employees.

The capital raised will enable Grubwithus to further its growth trajectory by developing the Company’s restaurant portfolio, creating additional marketing channels, and enhancing the customer experience, while also driving expansion into key domestic and international markets.  In the near term, Grubwithus plans to launch complimentary business segments including last-minute group get togethers and happy hours to capture new users and appeal to existing grubbers.  

Focused on helping entrepreneurs build big, transformative businesses, Mark Suster, Partner at GRP, will join the Grubwithus Board of Directors.  As a two-time entrepreneur, Suster joined GRP in 2007 with a focus on early-stage technology companies including Affordit, EagleCrest Energy, EcoMom, ExpenseCloud, Gendai Games, and LaughStub. 

“In the last year we have achieved meaningful milestones, including significantly growing our business and developing our Grubwithus groups platform to include everything from Y Combinator Grads & Enthusiasts to Travel Lovers,” said Eddy Lu, Co-Founder and CEO of Grubwithus. “We are excited about the opportunities ahead as we begin work with Michel, Mark, and the team at GRP to disrupt established social norms and ultimately create long-term fundamental change.” 
 
About Grubwithus
Founded in July 2010 and headquartered in Venice, California, Grubwithus is a social dining network looking to take online social networks back offline. Pioneering the “in real life” movement, grubbers can browse and reserve meals online, and then meet, socialize, and build relationships over tasting menus in the US. Grubwithus gives users the opportunity to connect with others, meet people who share similar interests, engage with influential luminaries, and host private meals. For more information, visit the company website at www.grubwithus.com.

PRESS RELEASE

Redwood Systems, the leading provider of building-performance lighting solutions, today announced it has secured $11.75 million in series C funding. The investment will enable Redwood to continue its rapid growth in global markets and drive new innovations across the Redwood platform. The round includes participation from Battery Ventures, U.S. Venture Partners, Index Ventures and Mitsui & Co, Ltd.

“We are proud to be one of the companies succeeding at delivering on the promise of clean technology,” said Dave Leonard, CEO of Redwood Systems. “We are rapidly adding world-class companies that achieve significant operational savings and reduce their environmental footprint with our solutions, and our blue-chip group of investors is enthusiastically supportive of Redwood’s progress to date. This investment will allow us to continue our rapid growth by accelerating the development of new technologies that complement the Redwood platform while expanding our leadership in the building-performance lighting industry globally.”

Redwood uses a patented approach that delivers efficient low-voltage DC power and control to lighting fixtures and a high-density sensor network. This allows the system to provide an average of 75 percent energy savings, as well as gather rich data around power consumption, temperature and space utilization. Leading global brands including Facebook, SAP and Volkswagen are using Redwood to reduce costs and lessen their environmental impact. In addition, Redwood recently established operations abroad in Europe, where it signed EDF, the second largest electric utility company in France.

About Redwood Systems

Redwood Systems’ building-performance lighting solutions facilitate lower cost, higher-performing workplaces. Redwood has developed the world’s only smart building platform that powers and controls lights and a high-density sensor grid providing both best-in-class energy savings averaging 75% and granular monitoring of space utilization, temperature and power consumption. This award-winning approach uses patented networking technology and a low-voltage DC architecture for high reliability and scalability as well as low cost installation. With a growing roster of market-leading customers and partners, Redwood is building a reputation for customer success worldwide.

PRESS RELEASE

Junar, the Open Data platform leader for the Data Economy, today unveiled the Junar Open Data Platform, a next generation data management system. Its cloud-based platform enables businesses, governments, and other organizations to take the complexity and guesswork out of having to develop their own proprietary open data software and makes it easy to unlock the hidden value of Big Data. The company also announced over 200 organizations participated in its early access program and it has raised initial funding of $1.2 million.

Delivered as a Software-as-a-Service (SaaS) offering, the data management system enables organizations to easily organize and present data that they want to share. The Junar Open Data Platform is the one service that organizations need to collect, enhance, publish, socialize, and report on their Open Data.

The platform provides a simple workflow that allows users to streamline entire Open Data projects. From extracting datasets to building graphical views to managing data publishing, Junar ensures that data assets are always fresh, relevant, and social. And while some datasets are best shared, Junar makes it easy to control which datasets are made available to the public and which datasets are assigned only for internal users. The Junar Open Data Platform only takes a few minutes to deploy, requires no complex software or costly servers, and empowers organizations to custom brand and integrate their data into their own Web sites or have it hosted.

“Open Data is fast becoming the next defining theme for business and government because information drives innovation and collaboration,” said Diego May, CEO and co-founder of Junar. “And Junar is already the engine for hundreds of organizations who are opening data and for millions of end users who use that information today. As we rapidly move to a society dominated by information and services, Junar is busy powering that transformation and the Data Economy.”

“We wanted to generate and open data and easily integrate it into our site for public sharing and consumption,” said Momi Peralta Ramos, Multimedia Development Manager at La Nacion, the second largest newspaper in Argentina. “We looked at our in-house capabilities and determined that we did not want to burden IT or pay for the infrastructure to get going. With Junar it was a no-brainer, and we were up and running in days instead of months. Over nine million monthly users from Lanacion.com have already benefited from our data and we are just getting started.”

Junar also announced that it has raised $1.2 million in initial funding with Aurus, Austral Capital and top angel investors in Latin America and the US investing.

About Junar
Junar powers the Data Economy by delivering the easiest-to-use, cloud-based Open Data platform. For innovative organizations, Junar is the fastest way to publish data. The Junar platform enables businesses, governments, and organizations to free their data to drive new opportunities, collaboration, and transparency. Some of the world’s leading companies trust Junar with their most valuable assets: their data and the end users who are viewing and using it.

Media Contact
John C. Tran
408.623.1662
john.tran@junar.com

SOURCE Junar

PRESS RELEASE

Echo360, the global leader in blended learning and lecture capture solutions, announced today a significant new investment from Revolution Growth to accelerate the deployment of their transformative technology platform in colleges and universities, with the aim of reaching 50 percent of all U.S. college students within five years. Echo360 is already in use at more than 500 leading institutions of higher education.

The core lecture capture product from Echo360 enables a blended learning platform that integrates face-to-face class time with online learning outside the classroom. Echo360 captures classroom video and audio, and converts them into digital modules ready for access anytime by students on their computers, tablets, and mobile devices. The easy-to-use solution allows instructors to record, edit, and share lectures and learning modules with students, who can watch and review them on their own time, at their own pace. Instructors can see what students are reviewing, and can revise future lectures or record supplemental updates.

“Technology has had a transformative impact on many facets of our lives – but the one major area where we have failed to leverage technology to its potential is in education,” said Revolution Growth Co-founder Steve Case. “Echo360 empowers universities and colleges to enhance and extend the classroom experience to bring a much needed revolution to higher-education. Blended learning is about marrying the best of online with the best of in-person teaching, and that is what Echo360 enables.”

The Echo360 solution enhances and extends the classroom in a way that is cost-efficient for administrators, easy-to-use by instructors, and helpful for students. Students enjoy flexibility to re-watch and search class lectures anytime, anywhere. Echo360 gives instructors the option to “flip” the classroom by recording lectures for viewing before class and utilizing the vital face-to-face time for discussion and interaction. Instructors can then post additional materials based on feedback after class to clarify any points of confusion. Echo360 allows administrators to make more efficient use of classroom space as well as determine how to innovate in online or distance learning.

“Universities have a gold mine of content produced every day in the classroom, and Echo360 provides the key to unlock teaching innovation with a proven platform to capture, host, and stream instructional content in a variety of ways,” said Fred Singer, CEO of Echo360. “We partner with more than 500 higher education institutions in 30 countries, giving them our cost-effective and collaborative platform to blend the best of both worlds — classroom learning and online tools. With the capital, expertise, and help of Revolution Growth, we aim to have 30,000 classrooms Echo360-enabled in five years, which would reach 50 percent of all U.S. college students, and allow 15 million students worldwide to benefit from a blended learning environment.”

“There is growing interest in ‘blended learning’ and the ‘flipped classroom’ – and Echo360 is the simple yet powerful technology platform that turns these concepts into reality,” said Revolution Growth Co-founder Donn Davis, who will join the Echo360 board of directors. “Echo360 transforms the century-old classroom, which is analog and place-constrained, to a digital and extended experience, which empowers administrators and instructors to innovate and experiment at the pace and in the way they think best.”

Today, Echo360 focuses on the higher education market, but its solution can be applied to provide blended or distance learning for any training program or education facility. Echo360 is planning pilot programs for the government and corporate markets in 2013.

About Echo360
Echo360 is the global leader in providing the platform to capture, host, and deliver classroom lecture and supplemental materials to higher-education institutions. Echo360 facilitates better instruction, results in greater efficiencies, and enriches learning experiences. The Echo360 solution is flexible and scalable, which allows institutions to chart their digital future. More than 500 colleges and universities in 30 countries currently use the Echo360 solution. Echo360 has been recognized with a Product Line Strategy of the Year Award from Frost & Sullivan and named a Visionary Vendor in Educational Technology by IT research firm Basex. Echo360 is based in Dulles, Virginia.

About Revolution Growth
Founded and led by Steve Case, Ted Leonsis, and Donn Davis, Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience, and control in their lives. By taking a long-term approach and developing a true, hands-on partnership with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies. For more information, visit www.revolution.com/growth.

PRESS RELEASE

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.”
Additional Resources
Facebook.com/GreenBytes
Twitter.com/GetGreenBytes
YouTube.com/GetGreenBytes
GetGreenBytes.com/blog
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.
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.