August 27, 2014

Glassbeam Receives $2M in Additional Funding

SANTA CLARA, Calif., Aug. 27 — 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.