Last updated on April 16, 2014 at 17:34 EDT

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

June 18, 2013

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

Fidelity Worldwide Investment Leads Series B Funding Round to Help Storage

QoS Company Expand

CloudByte [http://www.cloudbyte.com ], 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.

http://photos.prnewswire.com/prnh/20130123/589070 )

“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

“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 [http://www.cloudbyte.com/team.aspx ] 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 while economically 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
http://www.cloudbyte.com, http://www.facebook.com/cloudbyte, or


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        PR Agency for CloudByte:
        Georgiana Comsa
        Silicon Valley PR



SOURCE CloudByte Inc

Source: PR Newswire