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infinite io, which Provides Data Management and Performance Optimization, Raises $10.3M in Series B Funding

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Funding Round Led by Former Motorola CEO and Cleversafe Chairman
Chris Galvin

infinite
io
, the developer of the award-winning Network-based Storage
Controller, today announced that it has closed on an oversubscribed
$10.3M Series B funding round. The round was led by former Motorola CEO
and Cleversafe Chairman Chris Galvin, and Chris Galvin's son David of
Three Fish Capital and formerly of IBM. It also includes capital from
Chicago Ventures, John Anderson, Dougherty and Company, Equus Holdings,
and PV Ventures.

Several industry luminaries participated in the round: Dean Drako,
founder and former CEO of Barracuda Networks and founder and current CEO
of Eagle Eye Networks; Brett Hurt, co-founder and former CEO of
Bazaarvoice and current co-founder and CEO of data.world; Bill Miller,
co-founder and former CTO of Storage Networks and current CEO of
X-IO-technologies.

"infinite io is disrupting the data storage industry with an unheard-of
value proposition: lowering overall storage costs by transparently
migrating inactive data to a cloud, while also providing record-breaking
performance for data that is in use," said Mark Cree, co-founder and CEO
of infinite io. "We are proud to welcome this exceptional group of
investors onboard as we begin the journey to completely rewrite the
rules in data management and performance optimization."

The new funds will be used to scale operations globally and accelerate
the company's growing momentum in the market. infinite io is now being
used by leading enterprises in media and entertainment, genomics, higher
education and research, large-scale website development, and government,
where performance must be maintained as data scales to multiple
petabytes and beyond.

"We invest in teams with a proven track record that take a highly
differentiated approach to address a well-defined large market
opportunity. infinite io's metadata-driven approach to data management
addresses a large market need by solving the data management problem
without impacting storage performance – all other approaches force the
customer to compromise performance when managing data at scale and
usually involve other drawbacks like capacity-based pricing," said
Stuart Larkins, Partner at Chicago Ventures. "We are excited to help
infinite io redefine the rules in data storage, and their
metadata-driven approach has the potential to change how the world
manages data forever."

About infinite io, inc.

infinite io is changing the underpinnings of data storage by putting
storage intelligence in the network. Our unique architecture responds to
metadata requests faster than the most advanced all-flash storage
arrays, significantly increasing the performance of existing storage
systems. And when that metadata indicates files are no longer being
accessed, they are migrated to low-cost cloud storage, all without
sacrificing security or availability. Enterprises gain the immediate
benefits of increased application performance and effectively unlimited
low-cost data storage. For more information, please visit infinite.io.

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