Welcome!

IBM Cloud Authors: Yeshim Deniz, Elizabeth White, Pat Romanski, Liz McMillan, Stefan Bernbo

News Feed Item

Diablo Technologies Closes $28 Million Equity Investment

Battery Ventures Leads Round including Celtic House, BDC and Hasso Plattner

OTTAWA, Ontario, Nov. 8, 2012 /PRNewswire/ -- Diablo Technologies, a proven innovator in memory system interface products, today announced the closing of a $28 million funding round—adding several new US and European investors and Board members. The investment will be used to complete its groundbreaking Memory Channel Storage(MCS) technology platform. The soon-to-be-announced MCS system of products enable substantial improvements in transaction processing and data analysis within compute-servers, enterprise datacenters and cloud-computing facilities worldwide. The funding round was led by Battery Ventures and included additional financing from Celtic House Venture Partners, BDC Venture Capital, and Hasso Plattner Ventures.

(Logo:  http://photos.prnewswire.com/prnh/20121108/LA08460LOGO)

Riccardo Badalone, founder and Chief Executive Officer commented: "Over the past two years Diablo Technologies has developed an innovative memory channel-based solid-state storage platform. With this equity funding we are accelerating the completion of a system solution including hardware, software and a chip-set that will deliver breakthroughs in system performance and flash storage density for analytic data processing, web-page serving, cloud computing and other server-based enterprise computing applications. We are pleased to welcome Scott Tobin and Alex Benik both of Battery Ventures, and Yaron Valler from Hasso Plattner Ventures to our Board of Directors."

"Storage is undergoing the type of a technological revolution that we see only once every few decades, and it's an exciting time to be involved with the entrepreneurs and technologists who are leading this new wave," said Scott Tobin, Battery General Partner.  "Today's emerging companies are attacking tough strategic problems, and creating tremendous value across the enterprise-storage stack.  We believe Diablo Technologies has the technology and creativity to usher in the next phase of innovation in NAND-flash storage. This investment is the perfect complement to our recent success in the flash storage space, with Anobit (flash memory controllers) being acquired by Apple, and XtremIO (scale-out flash arrays) being acquired by EMC."

"Existing investors BDC and Celtic House are tremendously excited to see the evolution of Diablo being positioned to redefine in-memory computing," said Tom Valis of Celtic House Venture Partners.

About Diablo Technologies

Founded in 2003, Diablo is successfully delivering products that enhance the performance and capability of memory system designs.  Diablo's innovative Memory Channel Storage technology platform is leveraging the disruptive capability of NAND-flash and future Non-Volatile Memory technologies to enable increased levels of application performance supported by a new class of enterprise server and storage system designs.

The Diablo executive management team, now developing its third family of memory interface solutions, has decades of experience in system architecture, chip-set design and software development at companies including Nortel Networks, Matrox Graphics, Goal Semiconductor, BroadTel Communications, ENQ Semiconductor, IceFyre Semiconductor, Mosaid Techologies and Huawei.

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 seed, start-up and expansion financing, to growth equity and buyouts.

Battery has supported many breakthrough companies around the world, including seven companies who have IPO'd in the past fourteen months.  Past portfolio companies include:  Akamai Technologies (IPO), Angie's List (IPO), Anobit (acquired by Apple), Groupon (IPO), ITA Software (acquired by Google), Kashya (acquired by EMC), Netezza (acquired by IBM), VSS Monitoring (acquired by Danaher), and XtremIO (acquired by EMC). Its current portfolio includes emerging and more established firms such as Bazaarvoice (IPO), Calxeda, Continuuity, Cumulus Networks, Delphix, ExactTarget (IPO), Guidewire (IPO), Marketo, Nutanix, Opscode, and Zerto.

Battery has offices in Boston, Silicon Valley and Israel.  It has raised nearly $4B since inception, and is currently investing a $750M fund.  For more information, visit www.battery.com.  Follow us @batteryventures.

About Celtic House Venture Partners
Celtic House Venture Partners is an independent Canadian investment firm. Since 1994, Celtic House has been one of Canada's most active investors in technology and innovation. Capitalizing on the deep domain expertise of its partners, Celtic House has consistently provided superior financial returns to its investors. Celtic House has collaborated with management teams and entrepreneurs to develop technology companies from the inception phase through acquisition and over 20 initial public offerings. From offices in Toronto, Montréal and Ottawa, Celtic House manages over $425 million across three funds. For more information, visit www.celtic-house.com/.

About BDC Venture Capital 
BDC Venture Capital is a major venture capital investor in Canada. We work with entrepreneurs and other investors to build outstanding Canadian companies, and are involved at every stage of our investee companies' development cycles, from seed through expansion. Our goal is to deliver excellent return on our investments while fulfilling a crucial role as a strategic partner in the Canadian venture capital industry. With more than $1 billion in current and planned investments and 25 years of experience in venture capital, our focus is on innovative IT, health and energy/clean technology companies with high growth potential.

About Hasso Plattner Ventures
Hasso Plattner Ventures was founded in July 2005 in Potsdam near Berlin, Germany with a goal to invest in the area of information technology. In 2008 a second fund was created, which has widened the focus to include clean-tech as well as firmly established companies. SAP Co-Founder Prof. Dr. h. c. Hasso Plattner supplies the lion's share of investment capital, followed by InvestitionsBank Brandenburg, CMEA Capital, Shai Agassi and Arnon Katz. The portfolio companies benefit not only from financial support but also from the skills and experiences of the highly qualified team. Together with Diablo Technologies, the company's portfolio now includes 22 businesses. More information is available at www.hp-ventures.com.

All trademarks, trade names and service marks referenced herein belong to their respective companies

CONTACT AGENCY:

Dan Miller

JPR Communications

818-884-8282, Ext. 13

dan@jprcom.com

SOURCE Diablo Technologies

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
SYS-CON Events announced today that IoT Global Network has been named “Media Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. The IoT Global Network is a platform where you can connect with industry experts and network across the IoT community to build the successful IoT business of the future.
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?
DXWorldEXPO LLC announced today that Telecom Reseller has been named "Media Sponsor" of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the tec...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...