CloudByte Raises New Funding to Meet Increasing Customer Demand in the Cloud Service Provider and Enterprise Private Cloud

 CloudByte Raises New Funding to Meet Increasing Customer Demand in the Cloud
            Service Provider and Enterprise Private Cloud Markets

  PR Newswire

  CAMPBELL, California, June 18, 2013

CAMPBELL, California, June 18, 2013 /PRNewswire/ --

Fidelity Worldwide Investment Leads Series B Funding Round to Help Storage QoS
                                Company Expand

CloudByte , the first company to guarantee quality of service (QoS) to every
application from a shared storage platform, announced today that it has raised
$4 million in its second round of funding, bringing the total funding to $6.1
million. The Series B funding round was led by Fidelity Growth Partners India,
the private equity arm of Fidelity Worldwide Investment (Fidelity), with
participation from existing investors Nexus Venture Partners and Kae Capital.
Funds from this new investment will be used for expanding global sales and
marketing in addition to product development. Headcount additions will help
the company support the growing customer demand and increase the market
awareness of its award-winning software-defined storage solution. Raul Rai,
managing director with Fidelity Growth Partners India, will be joining the
CloudByte board of directors.

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"We are very pleased to be part of the ongoing CloudByte success story," said
Raul Rai. "The company's leading-edge ElastiStor storage technology, shipping
since January, and its applicability for both cloud storage providers and
enterprise private clouds helped us make this investment decision. As part of
our diligence, we also observed that CloudByte has achieved greater traction
than companies that have raised much larger rounds of funding. It is
refreshing to see what CloudByte has accomplished in a short period of time
and we are looking forward to the company's continued success and expansion
into new markets."

"As an early investor, it has been exciting to see the company's growth and
customer adoption. As a large storage user, Fidelity has a deep insight in
this space and we are excited to have them join us as an investor in the
company," said Sandeep Singhal, co-founder of Nexus Venture Partners. "The
storage industry is experiencing a fundamental shift to a software-based
model, giving both cloud service providers and enterprises the flexibility and
scale they need without compromising performance and other high-end features.
CloudByte's patented storage QoS solution gives its customers the ability to
deliver scalable on-demand performance from commodity storage components, both
HDDs and SSDs, for a range of application needs."

"CloudByte has put together a world-class management team. We are delighted to
participate in this round of funding along with Nexus and Fidelity," said
Sasha Mirchandani, founder and managing director of Kae Capital. "CloudByte
has disrupted the traditional storage space by developing next-generation
storage technology that makes it easier to afford and manage storage for
thousands of applications."

CloudByte announced earlier this month the appointment of former SanDisk
General Manager Greg Goelz as chief executive officer. CloudByte ElastiStor
has been verified to work with leading technology platforms, including VMware
ESXi, Citrix XenServer, and Citrix CloudPlatform, and is now integrated with
OpenStack block storage Cinder. The company continues to receive industry
recognition and most recently was recognized for its innovation by TiEcon, Red
Herring, and Network Products Guide.

"The support we have received from Fidelity, as well as our existing
investors, is a testimony to our tremendous market opportunity and the success
we are already having in this market," said Greg Goelz, chief executive
officer of CloudByte. "While the all-flash discussion continues, our software
approach allows organizations to optimize their infrastructure based on their
requirements and select their preferred storage components; today, most
customers are just beginning to deploy SSDs and economics is a key factor in
driving their storage solutions. We enable our customers to start with the mix
that is right for their business and continue to use CloudByte to manage their
storage as their business grows and needs change."

Today, CloudByte also announced a free perpetual license of its full-featured
storage software, ElastiStor, for up to 4 TB of storage. The software can be
downloaded at .

About CloudByte

CloudByte is an award-winning software-defined storage company that offers
guaranteed quality of service (QoS) to every application from a shared storage
platform, allowing cloud service providers and enterprises building private
clouds to easily host performance applications in the cloud. With CloudByte's
on-demand performance management, cloud environments can easily scale to
thousands of applications whileeconomically guaranteeing performance for each
application. Established in 2011 by technology executives from companies such
as HP, IBM, NetApp, and Novell, CloudByte is backed by Fidelity Worldwide
Investment, Nexus Venture Partners and Kae Capital. For more information, go
to , , or .

Citrix®, XenServer® and CloudPlatform™ are registered trademarks of Citrix
Systems, Inc. and/or one or more of its subsidiaries, and may be registered in
the U.S. Patent and Trademark Office and in other countries. All other
trademarks and registered trademarks are property of their respective owners.

PR Agency for CloudByte: Georgiana Comsa
 Silicon Valley PR 
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