According to a new SEC filing, Rhode Island startup GreenBytes Inc. added $3.5 million to the series A round they raised last year, led by Battery Ventures and initially consisted of $7.5 million.
GreenBytes provides “energy-efficient, inline deduplication storage appliances.” In plainer English, the company makes hardware and software that IT operations teams use to store and protect huge amounts of data, and to control how much energy they must use to do so. GreenBytes claims its technology can cut storage power consumption by 50%.
The company was founded in 2007 by Robert Petrocelli, who previously started and grew a medical information services firm, HeartLab, that was acquired by Agfa in 2005 for $132.5 million.
Investor Sunil Dhaliwal, a general partner at Battery Ventures in Boston who holds a board position at GreenBytes, said of this additional series A investment: “The company has seen strong growth in customers and revenue in the past few quarters. We elected to do a small internal round to maintain momentum rather than spending time with external investors at a critical time.”
The company recently escaped a legal threat from Sun, now part of Oracle, and NetApp as did several other companies whose products and services used Zettabyte File System technology, according to reports by Chris Mellor at The Register.
GreenBytes plans to raise a B-round in the next year.
GreenBytes, Inc. manufactures data storage systems. The company was founded in 2007 and is based in Ashway, Rhode Island.
Battery Ventures is a venture capital firm with offices in Boston, Silicon Valley, Israel. They invest in technology driven companies.
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