January 12th, 2016 by Lyle Smith
Diablo Technologies Raises Another $19 Million For Its Series C Financing Round
Diablo Technologies has announced that it has secured an additional $19 million in capital for its Series C Financing round, which is led by new investor ICV along with participation from Battery Ventures, BDC Capital, Celtic House, and Hasso Plattner Ventures. Diablo adds that the funding will be used to help expedite customer deployments with the expansion of sales, applications support, and R&D.
Last year, Diablo Technologies had successfully concluded a lengthy legal battle with Netlist concerning their ULltraDIMM technology, allowing the company to ship their Memory Channel Storage chipset without restriction.
The company also announced that industry veteran, Mark Stibitz, has been hired as Chairman and Chief Executive Officer. Diablo indicates that he brings comprehensive experience in business management, global market, and product development experience from start-up and public companies such as Anobit, Elliptic Technologies, PMC-Sierra, Agere Systems and Lucent/AT&T-Microelectronics. Stibitz had served as an independent member on Diablo’s Board of Directors since February 2012. In addition, Diablo Co-founder and previous CEO, Riccardo Badalone, has been appointed to the role of Chief Product Officer.