Diablo Technologies Expands Funding Round to $36 Million
U.S. Venture Partners adds support to Memory Channel Storage innovators
OTTAWA, Canada, March 19, 2013
OTTAWA, Canada, March 19, 2013 /PRNewswire/ -- Diablo Technologies, a proven
innovator in memory system interface products, today announced that it has
closed an additional $7.5 million of funding, increasing the total equity
investment of its most recent funding round to $36 million. The
oversubscription includes a new investment from U.S. Venture Partners and
additional funding from existing investors. In conjunction with the new
investment, USVP Partner Chris Rust joins Diablo's board of directors.
The additional funding will be used to support Diablo's upcoming launch of its
groundbreaking Memory Channel Storage™ (MCS) technology platform and provides
the company with increased ability to market and distribute its disruptive
technology across a broader set of applications. The soon-to-be-announced MCS
products enable substantial improvements in transaction processing and data
analysis within compute-servers, enterprise datacenters and cloud-computing
"As the Diablo team works aggressively to bring our innovative technology
platform to market, it's great to have the additional vote of confidence from
USVP that we are solving a very big problem and enabling the next big step of
flash market deployment," said Riccardo Badalone, founder and Chief Executive
Officer of Diablo Technologies. "We thank USVP for their contribution to the
funding round. The added resources will help us introduce a truly innovative
set of products, as well as continue to strengthen our board of directors with
the addition of Chris."
"Behind the disruptive technology platform that Diablo is preparing to roll
out is a great team of energetic and passionate people working to make Memory
Channel Storage a reality for customers," said Rust. "I'm excited to have the
opportunity to join in Diablo's funding round and am looking forward to
working closely with Riccardo and the team as they expand their market scope
and scale their business prospects to even greater heights."
USVP joins previously announced investors Battery Ventures, Celtic House
Venture Partners, BDC Venture Capital, and Hasso Plattner Ventures. See
release here: http://tinyurl.com/d9l2ral
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 U.S. Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon valley-based venture capital
firm, helping entrepreneurs build world-class companies since 1981. USVP
focuses on early stage opportunities in sectors where the Partners have the
domain expertise, operating experience and network relationships to contribute
to the success of an enterprise. Currently, the firm invests in digital
communications, network systems, consumer and business services, media,
semiconductors, clean technologies, biopharmaceuticals and medical devices.
For more information, visit www.usvp.com.
All trademarks, trade names and service marks referenced herein belong to
their respective companies.
818-884-8282, Ext. 13
SOURCE Diablo Technologies
Press spacebar to pause and continue. Press esc to stop.