Former Motorola CEO Christopher Galvin Leads Cleversafe's Series C Round, Joins Board of Directors
Dispersed Storage(TM) Technology Provider Also Secures Series C Funding from Presidio Ventures, Alsop Louie Partners, NEA and OCA Ventures
CHICAGO, Dec. 11 /PRNewswire/ -- Cleversafe Inc., the lead developer of Dispersed Storage(TM) appliances and software that enable deployment of dispersed storage networks (dsNets), today announced the appointment of Christopher Galvin, the former chairman and CEO of Motorola and one of the world's most influential technology executives, to its board of directors.
The company also announced its Series C round of funding, with lead investor Harrison Street Capital LLC and Sumitomo Bank's investment arm, Presidio Ventures, joining existing investors New Enterprise Associates, Alsop Louie Partners and OCA Ventures in this round. Cleversafe plans to use the additional financing to support the commercialization of products based on its Dispersed Storage technology early next year. Galvin is Harrison's co-founder and chairman.
"For more than 30 years, I have embraced breakthrough innovation. Cleversafe appears to have solved the problems thought for decades to be insolvable: offering commercially available, reliable and cost-effective global data storage grids," said Galvin. "I have been very impressed with Cleversafe's technology and vision, and believe the company has an opportunity to serve important segments of the worldwide storage industry in a distinctive way."
Galvin brings 36 years of experience managing the issues facing growing global high technology companies that includes investing in advanced R&D, business-model change, assembling global executive talent, and motivating the creation of exciting new products such as the RAZR cellular phone. Galvin is known for his passion for technology innovation and for high ethical standards and innovations in corporate governance. He is also chairman of NAVTEQ, Inc., the leading supplier of global digital mapping databases, where he is overseeing the impending acquisition of NAVTEQ Inc. by Nokia for $8.1B in 2008.
"We are extremely pleased to have Chris Galvin lead this investment round and to have an executive of his caliber and proven record of successful technology innovation join our board," said Jonathan Zakin, CEO of Cleversafe. "Chris' investment and presence is a tremendous endorsement of the potential of our business and our unique vision for the storage industry."
Cleversafe's Dispersed Storage technology delivers a more secure, private, reliable and cost-effective solution than traditional copy-based storage methods. A dsNet can tolerate multiple simultaneous failures of hardware, storage locations or administrators, while still keeping data secure and easily accessible. Because Dispersed Storage delivers higher levels of reliability and security without making copies, it reduces overall storage and bandwidth expansion to a small fraction of the size of copy-based storage methods, decreasing overall cost and management.
Additional Biographical Information: Christopher Galvin
Galvin is also a member of Bechtel Corp.'s board of counselors, Northwestern University's board of trustees, the American Enterprise Institute Board, the Legion D'honneur, Business Council (U.S.) and the American Society of Corporate Executives. He is an advisor to the City of Tianjin, China; Searle Family Trusts; and the Board of the Chicago Council of Global Affairs. Galvin is a former chairman of the U.S.-China Business Council, a director of Rand Corp., and a member of the U.S. Department of Defense Science Board.
About Cleversafe
Cleversafe, Inc. is the developer of Cleversafe Dispersed Storage(TM) software, which uses Information Dispersal Algorithms (IDAs) to separate data into unrecognizable DataSlices(TM) and distribute them, via secure Internet connections, to multiple storage locations on a dispersed storage network. With dispersed storage, transmission and storage of data is inherently private and secure. No single entire copy of the data is in one location, and only some of the slices are required to retrieve the entire data. Data on the network remains private and secure in the face of natural catastrophes, or failures of hardware, connection, facility or IT management. Moreover, the individual data slices do not carry enough
information for an unauthorized viewer to determine the original content. For more information, please visit http://www.cleversafe.com or the Company's open source site, http://www.cleversafe.org.
CHICAGO, Dec. 11 /PRNewswire/ -- Cleversafe Inc., the lead developer of Dispersed Storage(TM) appliances and software that enable deployment of dispersed storage networks (dsNets), today announced the appointment of Christopher Galvin, the former chairman and CEO of Motorola and one of the world's most influential technology executives, to its board of directors.
The company also announced its Series C round of funding, with lead investor Harrison Street Capital LLC and Sumitomo Bank's investment arm, Presidio Ventures, joining existing investors New Enterprise Associates, Alsop Louie Partners and OCA Ventures in this round. Cleversafe plans to use the additional financing to support the commercialization of products based on its Dispersed Storage technology early next year. Galvin is Harrison's co-founder and chairman.
"For more than 30 years, I have embraced breakthrough innovation. Cleversafe appears to have solved the problems thought for decades to be insolvable: offering commercially available, reliable and cost-effective global data storage grids," said Galvin. "I have been very impressed with Cleversafe's technology and vision, and believe the company has an opportunity to serve important segments of the worldwide storage industry in a distinctive way."
Galvin brings 36 years of experience managing the issues facing growing global high technology companies that includes investing in advanced R&D, business-model change, assembling global executive talent, and motivating the creation of exciting new products such as the RAZR cellular phone. Galvin is known for his passion for technology innovation and for high ethical standards and innovations in corporate governance. He is also chairman of NAVTEQ, Inc., the leading supplier of global digital mapping databases, where he is overseeing the impending acquisition of NAVTEQ Inc. by Nokia for $8.1B in 2008.
"We are extremely pleased to have Chris Galvin lead this investment round and to have an executive of his caliber and proven record of successful technology innovation join our board," said Jonathan Zakin, CEO of Cleversafe. "Chris' investment and presence is a tremendous endorsement of the potential of our business and our unique vision for the storage industry."
Cleversafe's Dispersed Storage technology delivers a more secure, private, reliable and cost-effective solution than traditional copy-based storage methods. A dsNet can tolerate multiple simultaneous failures of hardware, storage locations or administrators, while still keeping data secure and easily accessible. Because Dispersed Storage delivers higher levels of reliability and security without making copies, it reduces overall storage and bandwidth expansion to a small fraction of the size of copy-based storage methods, decreasing overall cost and management.
Additional Biographical Information: Christopher Galvin
Galvin is also a member of Bechtel Corp.'s board of counselors, Northwestern University's board of trustees, the American Enterprise Institute Board, the Legion D'honneur, Business Council (U.S.) and the American Society of Corporate Executives. He is an advisor to the City of Tianjin, China; Searle Family Trusts; and the Board of the Chicago Council of Global Affairs. Galvin is a former chairman of the U.S.-China Business Council, a director of Rand Corp., and a member of the U.S. Department of Defense Science Board.
About Cleversafe
Cleversafe, Inc. is the developer of Cleversafe Dispersed Storage(TM) software, which uses Information Dispersal Algorithms (IDAs) to separate data into unrecognizable DataSlices(TM) and distribute them, via secure Internet connections, to multiple storage locations on a dispersed storage network. With dispersed storage, transmission and storage of data is inherently private and secure. No single entire copy of the data is in one location, and only some of the slices are required to retrieve the entire data. Data on the network remains private and secure in the face of natural catastrophes, or failures of hardware, connection, facility or IT management. Moreover, the individual data slices do not carry enough
information for an unauthorized viewer to determine the original content. For more information, please visit http://www.cleversafe.com or the Company's open source site, http://www.cleversafe.org.
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