Diablo Technologies Closes $28 Million Equity Investment
Battery Ventures Leads Round including Celtic House, BDC and Hasso Plattner
OTTAWA, Ontario, Nov. 8, 2012
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.
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 atwww.hp-ventures.com.
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SOURCE Diablo Technologies
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