News Release from: Silverback Systems
Edited by the Electronicstalk Editorial Team on 27 April 2006
Investment to enable technology development
Silverback Systems has received strategic investments totalling $16 million from several leading technology and venture-capital firms.
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Silverback Systems has received strategic investments totalling $16 million from several leading technology and venture-capital firms. Network Appliance has joined this round of funding as a corporate investor, with all of Silverback's current investors - Gemini Israel Fund, Intel Capital, Newbury Ventures, Pitango Venture Capital and US Trust's Excelsior Venture Partners III - also participating. Silverback plans to use this funding for the continued development of its patented iSNAP acceleration technology, which drives unprecedented price/performance for servers and storage platforms.
Silverback's iSNAP technology accelerates the performance of servers, iSCSI storage devices, network-attached-storage appliances, blade servers, and multi-protocol storage routers, while providing flexibility, scalability, resiliency, and high availability.
The additional funding will help Silverback bring its third-generation 10 gigabit Ethernet acceleration adapters, chips and software to market by mid year.
'We believe Silverback's network acceleration technology will fuel demand for multi-gigabit Ethernet solutions among its storage and server customers', said Raghav Nandagopal, Senior Vice President and co-CEO of US Trust's Excelsior Ventures Partners III.
'Silverback is quickly becoming a leader in this rapidly growing market by offering its expanding customer base with the best performance and price point for TCP and iSCSI acceleration technology'.
Silverback is led by a team of seasoned executives with more than 100 years of combined experience in engineering, management and market development.
Ahmet Houssein, President and Chief Executive Officer, has served for more than 25 years in the engineering and business disciplines in the server and storage markets.
Cofounder and Executive Vice President Oran Uzrad-Nali has worked for more than 20 years in the semiconductor market, with an extensive background in network-processor technology.
Ariel Cohen, Vice President of Engineering and Operations, brings to Silverback 20-plus years of experience in networking and semiconductor design.
Vice president of Strategic Marketing and Business Development Harry Petty has served for more than 20 years in marketing, planning, and strategic-partnership management in systems and component companies.
Somesh Gupta, Senior Director of Software Architecture, brings to Silverback more than 18 years of engineering and management experience in the networking and storage markets.
'We're proud of Silverback and its ability to draw this funding from such a distinguished array of technology and venture-capital leaders', said Houssein.
'It serves as a testament of our technologies and Silverback's focus on delivering this capability to our customers'.
'This investment allows us to continue our aggressive plans to be the best price and performance solution for server and storage Ethernet I/O connectivity'.
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