Storage Software Firm NooBaa Appoints Michael Thompson as CEO, Announces New Funding, including Strategic Investment from Akamai
WESTBOROUGH, Mass., May 18, 2017-- NooBaa, a new entrant into the fast-growing object storage market, today announced the appointment of Michael Thompson as Chief Executive Officer. With a track record of driving startups to hyper growth and successful exits, Thompson will lead NooBaa to deliver on its vision of providing businesses with ultimate flexibility in the storage of massive amounts of unstructured data.
NooBaa has also raised an early round of funding from its existing investors Jerusalem Venture Partners (JVP) and OurCrowd, with a strategic investment from Akamai, the world's largest and most trusted cloud delivery platform. The funds will be used to bring NooBaa’s recently announced Enterprise Edition product to market, and scale the company in the United States.
“Mike Thompson has proven he can launch and grow new technology companies, and I am confident he will build a highly successful business at NooBaa that solves critical data storage problems for customers,” said NooBaa founder Yuval Dimnik. “We are also pleased to have the confidence of both existing investors and new investor Akamai as we bring our vision to market.”
“NooBaa’s approach to managing unstructured data across hybrid storage infrastructures, in an automated and intuitive way, provides a much-needed fabric for enterprises to optimize for efficiency and security in data placement and access,” said Andy Champagne, CTO, Akamai Labs. “As enterprises adopt multiple storage infrastructures for varied use cases, addressing the needs around automated management and vendor lock-in will become even more important. Akamai is excited to participate as a strategic investor in NooBaa, and to join Jerusalem Venture Partners and OurCrowd in helping NooBaa scale and realize its vision.”
Prior to joining NooBaa, Thompson was President/CEO of Sepaton, which was acquired by HDS/Hitachi. Prior to that, he served as Executive Chairman and CEO/President of Egenera, a pioneer of infrastructure virtualization, where he grew the company to $100M in just five years.
The hiring of Mr. Thompson and the new funding come as the company achieved key milestones:
• NooBaa Enterprise Edition launched: In early April the company announced availability of NooBaa Enterprise Edition, a software-based object storage solution that delivers the ultimate in infrastructure and business flexibility. The solution allows enterprises to consolidate unstructured data management across multiple locations and cloud environments in a simple and elastic manner. The Enterprise Edition provides full scale-out and high availability, public cloud integration, and a pay-as-you-go subscription license.
• New customer: Clouditalia, a cloud and telecommunications services provider in Italy, is deploying NooBaa across their datacenter network as part of a new storage-as-a-service and cloud archival service offering. Clouditalia selected NooBaa over alternatives because it offers superior flexibility, could be easily deployed in their existing infrastructure, is simple to manage, and has a licensing model that enables businesses to start small and scale seamlessly over time as capacity needs grow.
NooBaa’s vision is to deliver businesses ultimate flexibility in the storage and management of massive amounts of unstructured data, and eliminate the complexity and high cost that they incur today. Co-founded in 2013 by leading storage and security experts Yuval Dimnik and Guy Margalit, NooBaa has offices in Israel and the United States. Privately-held, NooBaa has received venture capital funding from JVP, OurCrowd, Akamai and prominent industry leaders.
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