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GreenBytes Secures $7 Million in Series C Funding for Its Desktop Virtualization Technology

Providence, R.I. and London, UK – April 3, 2013GreenBytes®, Inc., a developer of full-featured virtual desktop solutions that uniquely support existing infrastructure, today announced that it has raised an additional $7 million in Series C funding from Generation Investment Management LLP and Battery Ventures. GreenBytes will utilize the funding to continue the expansion and acceleration of global sales, marketing and partner development efforts, and for ongoing research and development of its patented zero latency inline deduplication technology found exclusively in the company’s award-winning IO Offload Engine™ and vIO™ solutions for desktop virtualization.

“GreenBytes has experienced explosive growth and intense interest from the rapidly expanding desktop virtualization market whilst garnering extraordinary praise as the first-mover in the flash-optimized virtual storage appliance market,” said Steve O’Donnell, chairman and CEO, GreenBytes. “We have been gaining incredible momentum with customers, resellers and strategic OEM partners, and this additional funding enables us to step up sales and marketing programs as we expand our solution into additional global territories and experience deeper market penetration.”

GreenBytes’ IO-Offload desktop virtualization solutions are the simplest and most cost-effective way for IT, service providers and OEMs to deliver ecosystem-agnostic, full-featured virtual desktops, from departmental to cloud-scale, in minutes.  With GreenBytes’ patented zero latency inline deduplication technology, IT is able to deliver the superior virtual desktop experience that users demand, all with 97% less storage space required, and with the manageability, scalability and affordability required for cloud-scale VDI deployments. GreenBytes’ IO-Offload desktop virtualization solutions include the IO Offload Engine, a hardware appliance, and the vIO, a virtual storage appliance.

“With groundbreaking, patented technology perfectly suited for cloud-based and enterprise desktop virtualization, we recognized a significant market opportunity when we joined the investment team during GreenBytes’ previous round of funding,” said Colin le Duc, partner, Generation Investment Management. “Desktop virtualization adoption is clearly picking up speed and GreenBytes is already playing a key role in this market, evidenced by the company’s advanced market position. We are impressed with the outstanding progress that GreenBytes continues to make, and with the recent expansion of the executive management team, GreenBytes has further solidified its outstanding leadership team who are poised to take the company to the next level.”

“We invested in GreenBytes early on, and it’s been rewarding to observe and support the company’s continued growth and traction with enterprises, OEMs and service provider partners,” said Tom Crotty, general partner, Battery Ventures. “The company’s patented inline deduplication technology solves the cost, performance and user experience problems that had served as roadblocks by antiquated, legacy VDI solutions.  GreenBytes is leading the way as an innovator in a growing space, and we look forward to continued momentum.”

About GreenBytes, Inc.
GreenBytes delivers patented IO-Offload desktop virtualization solutions that maximize the effective performance and capacity of existing infrastructure to provide persistent, full-featured virtual desktops with the manageability, scalability and affordability required for cloud-scale VDI deployments. GreenBytes was founded in 2007 and is based in Providence, Rhode Island, USA. For more information, please visit www.getgreenbytes.com.

About Generation Investment Management LLP
Generation Investment Management LLP is dedicated to long term investing, integrated sustainability research, and client alignment.  It is an independent, private, owner managed partnership founded in 2004 by Al Gore and David Blood, with offices in London and New York. Generation seeks superior performance by taking a long-term investment view and integrating sustainability research within a rigorous fundamental analysis framework. The sustainability research plays an important role in forming its views on the quality of the business, the quality of management and valuation.  Its performance fees align its interests with that of its clients by being based on long term performance. Generation Investment Management LLP is authorised and regulated in the United Kingdom by the Financial Services Authority.

About Battery Ventures
Since 1983, Battery has been investing in category-defining ideas and high potential companies and management teams worldwide. The firm views its investment as a true partnership, and works hard to help its companies carve out unique positions, dominate markets and reach business goals. Battery funds companies in technology and related markets at the Seed, Early, Growth and Buyout stage.  For a full list of Battery’s companies go to: http://www.battery.com/our-companies/list/. The firm has offices in Boston, Silicon Valley and Israel, and has raised more than $4.5B since inception.  For more information, visit www.battery.com, follow @batteryventures.

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GreenBytes and the GreenBytes logo are registered trademarks of GreenBytes, Inc. All other product names and trademarks are the property of their respective firms.

Additional Resources
Facebook.com/GreenBytes
Twitter.com/GetGreenBytes
YouTube.com/GetGreenBytes
GreenPower Blog

For additional information, contact:
Michael Robinson
GreenBytes
+1 401-228-8390
pr@getgreenbytes.com

Richard Campbell/Claire Aslett
Capital MSL on behalf of Generation Investment Management
+44 (0) 207 307 5330
Richard.Campbell@capitalmsl.com

Karen Bommart
Battery Ventures
+1 781-478-6672
kbommart@battery.com

 

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