Glassbeam Announces New Funding, Addition of Silicon Valley Luminary as CSO and Expands Board of Directors
•Machine Data Analytics Pioneer Attracts Investment from VKRM Group to Continue Product Innovation to Revolutionize the IoT Market
•Seasoned Silicon Valley Entrepreneur and Technology Leader Kumar Malavalli Joins C-Suite to Further Drive Company Strategy and Growth
•Company Adds Renowned Entrepreneur and Technologist Sashi Reddi of SRI Capital to Board
SANTA CLARA, Calif., August 27, 2014-- Glassbeam, Inc., the machine data analytics company, today announced significant new momentum with $2 million in additional funding. The investment, led by VKRM Group, a boutique venture capital firm investing in entrepreneurs building innovative and industry-leading businesses, will be used to continue the refinement of its unique, patentable Internet of Things (IoT) platform -- Glassbeam SCALAR.
Designed to analyze the exploding amounts of machine data being generated with the rise of connected devices, Glassbeam SCALAR is built to handle the high volume and variety of incoming data streams, which is common in complex IoT environments. Offering maximum flexibility, the platform works with any data, any device and any cloud to quickly uncover profound intelligence from complex operational data -- ingesting, processing and mining it in a near-real-time basis.
In conjunction with the funding news, Glassbeam is pleased to have Kumar Malavalli, a respected Silicon Valley luminary, take an active role as the company's chief strategy officer (CSO). As Glassbeam's co-founder, key investor and current chairman, Malavalli brings vast industry expertise helming multiple successful technology companies. He has led technology start-ups to successful liquidity events for more than a decade, including the 1999 multibillion IPO of Brocade Communications as its co-founder. He is widely considered to be the visionary behind Fiber Channel storage fabrics, an evolutionary technology that enabled the development of production-class Storage Area Networks (SANs). Most recently, he, as the CEO and chairman, led InMage, which he co-founded in 2001, to a successful acquisition by Microsoft.
Malavalli, who has also been inducted into the Silicon Valley Engineering Council Hall of Fame for his contributions to technology, helped found Glassbeam in 2009 with current CEO Puneet Pandit. As CSO, Malavalli will shape Glassbeam's strategy, guide the company's accelerating growth and help assert its position as a leader in the IoT space.
Additionally, Glassbeam announced the appointment of Sashi Reddi to the company's board of directors. Reddi is the founder and managing partner of SRI Capital, a seed stage venture capital fund focused on startups in the U.S., India and U.K. He is a seasoned executive and business leader, founding four startups in the past 20 years. Prior to SRI Capital, Reddi was founder and CEO at AppLabs, which was acquired by Computer Sciences Corporation (CSC). Post acquisition, he took over leadership of the Independent Testing Services division within CSC, and in September 2012, was elevated to lead CSC's big data and analytics business. He was also the founder and CEO of FXLabs Studios (acquired by Foundation 9 Entertainment), iCoop, Inc. and EZPower Systems (acquired by DocuCorp).
Glassbeam recent corporate and customer milestones include:
•New strategic partnership with Tableau Software, a global leader in rapid-fire, easy-to-use business analytics software. Together, this partnership speeds up time-to-value for customers through faster, easier access to insights from machine data.
•New customer win with Dimension Data, a $6 billion global ICT services and solutions provider, who is using Glassbeam SCALAR to optimize its global, enterprise-class cloud data center operations.
•Inclusion in CRN's Big Data 100 in the "Business Analytics" category "Emerging Vendors Big Data" categories.
Glassbeam's patent-pending technology is enabling customers to reduce costs, increase revenues, accelerate product time to market, and improve customer satisfaction and retention. Glassbeam customers and partners include Fortune 500 companies and enterprises across a variety of markets including storage, wireless, networking and medical devices.
"Glassbeam is at the cusp of an explosive phase in its growth cycle. The company is well on its way to emerge as a true leader in the IoT space with its unique patentable platform and pedigreed team. Combined with a market need for intelligent analytics for the IoT, I am confident that Glassbeam's sophisticated technology has the potential to disrupt the IoT industry and am thrilled to provide strategic direction to this impressive team. I look forward to continue driving Glassbeam's value and innovation forward."
- Kumar Malavalli, CSO and co-founder, Glassbeam
"In the past year, Glassbeam has established itself as the machine data analytics company, pioneering the technological development needed to analyze machine and device data. My experience combined with Glassbeam's corporate development and direction complement each other very well. I look forward to working with Puneet and his team to contribute to the company's future direction and growth, as this market continues to heat up."
- Sashi Reddi, founder and managing partner, SRI Capital
"This round of funding is another endorsement of Glassbeam's tremendous potential in the IoT space. With the appointment of Kumar as CSO and Sashi on the board, this announcement demonstrates our exceptional company momentum. We are honored to have these experts join our team and board, as both have unparalleled depth of knowledge in software and analytics. I look forward working with Kumar and Sashi to guide future growth and bring continued value to our customers."
- Puneet Pandit, CEO and co-founder, Glassbeam
Glassbeam is the machine data analytics company. Bringing structure and meaning to data from any connected device, Glassbeam provides actionable intelligence around the Internet of Things. Glassbeam's next generation cloud-based analytics platform is designed to organize and analyze multi-structured data, delivering powerful product and customer intelligence for companies including IBM, HDS, Aruba Networks and Meru Networks. For more information, visit www.glassbeam.com.
Kulesa Faul for Glassbeam, Inc.
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