Diablo Technologies Raises $19 Million Series C to Boost Sales, R&D

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Diablo Technologies has raisedan additional $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 Ottawa-based company says the funding will be used to further accelerate customer deployments via expansion of sales, applications support and R&D.

Diablo is redefining the rules of enterprise data centre performance and economics with its portfolio of Memory1 and Memory Channel Storage products.

Diablo’s flash-as ‘system memory’ solutions promise to deliver massive data centre performance improvement for enterprise and hyperscale customers alike, allowing them to do more with less, reducing energy costs and operational overhead, while reliably growing their businesses,” said ICV partner Glen Schwaber.

In addition, the company announced that industry veteran Mark Stibitz will serve as the company’s Chairman and Chief Executive Officer. Stibitz assumes this position after having served as an independent member of Diablo’s Board of Directors since February 2012. Diablo cofounder and previous CEO, Riccardo Badalone, has been appointed the technology-centric and customer-facing role of Chief Product Officer.

“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.

Diablo was founded in 2003.

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