GreenBytes secures $12M in Series B funding

L-R Richard(President and COO), Robert(CEO and Chief Technology Officer), and Americo(Chairman) Petrocelli of Greenbytes.
Posted 5/29/12

HOPKINGTON – GreenBytes Inc., developer of inline deduplication data storage solutions, landed $12 million in a Series B funding round led by Generation Investment Management LLP, a New York and London-based investment group co-founded by former U.S. Vice President Al Gore.

Boston-based Battery Ventures as well as the GreenBytes management team also contributed to the funding round.

GreenBytes plans to use the funds to expand and accelerate global sales, marketing and channel development efforts, and further develop its patented solid-state storage technology.

The company’s solid-state disc technology earned recognition from the U.S. Patent and Trademark Office in March for its method of allocating data on physical media by a file system that optimizes power consumption.

The allocation method significantly improves power efficiency and is available only in the GreenBytes globally optimized operating system found in its Solidarity, HA-3000 and GB-X Series product lines.

Prior attempts at limiting power consumption of large storage arrays consisted of many spinning magnetic discs, while the Rhode Island company’s newly patented technology limits consumption as a basic feature of the file operating system.

Users of products in GreenBytes’ globally optimized operating systems can keep a small active sub-set of their disk space at full power, while leaving the remaining disks in a low power state.

“The explosion in the volume of digital data, combined with the performance demands of [intensive applications] such as virtualization and analytics, has escalated data storage to a mission-critical level,” Greg Wasserman, partner at Generation Investment Management, said in prepared remarks.

“Primary storage optimization is accelerating the viability of flash storage in the enterprise, and we expect magnetic storage will be replaced with SSD technology faster than most analysts now predict,” Robert Petrocelli, CEO and CTO of GreenBytes, said in a statement.

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