Diablo Technologies raises USD$19M in Series C funding

Diablo Technologies raises USD$19M in Series C funding
January 12
15:43 2016

Diablo Technologies, a leading provider of ground-breaking memory solutions, has secured an additional USD$19 million in capital for its Series C Financing round.

The latest round is led by new investor ICV with participation from Battery Ventures, BDC Capital, Celtic House, and Hasso Plattner Ventures.

The funding will be used to further accelerate customer deployments via expansion of sales, applications support and R&D.

In addition, the company announced that industry veteran Mark Stibitz will serve as the company’s Chairman and Chief Executive Officer. He brings extensive business management, global market, and product development experience from across start-up and public companies including Anobit, Elliptic Technologies, PMC-Sierra, Agere Systems and Lucent/AT&T-Microelectronics. Stibitz assumes this position after having served as an independent member of Diablo’s Board of Directors since February 2012. Diablo Co-founder and previous CEO, Riccardo Badalone, has been appointed the technology-centric and customer-facing role of Chief Product Officer.

“This investment will contribute significantly to our customer support, product portfolio and innovation engine. Our strategy is clear and we are focused on successfully delivering products that seamlessly deploy flash as enterprise-grade system memory and high-performance, low-latency storage,” said Stibitz.

Press release.

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