MONTREAL, April 21 /CNW Telbec/ - Terrascale Technologies, an innovative developer of next generation input/output (I/O) software, today announced the completion of a $2.75 million over-subscribed round of financing, led by New York-based Entrepia Ventures. Innovatech Montreal and several private investors also participated.
Terrascale's flagship product - TerraGrid(tm) - enables commodity Linux clusters to sustain unprecedented levels of I/O performance while providing linearly scalable parallel access to unified pools of data. TerraGrid(tm) is the "glue" that binds together best-of-breed commodity servers, networks and Open Source software, enabling sustained application efficiency levels previously attainable only on expensive and proprietary monolithic platforms. TerraGrid(tm) enabled solutions are ideally suited to data-intensive business and R&D operations, including: bioinformatics, digital content creation, engineering design automation, quantitative analysis, meteorological modeling and seismic processing.
Terrascale will strategically invest its newly acquired capital in increased research and development, sales, marketing and business development initiatives, and the recruitment of new personnel. "Terrascale has delivered revolutionary technological innovation to the marketplace in a very short period of time," said Gene Kawaratani, Chairman of Entrepia Ventures. "The company's success can be directly attributed to the incredible dedication of its seasoned team and its firm commitment to disciplined financial management," Mr. Kawaratani added. "The support of our investors will enable us to grow at an accelerated pace," said Gautham Sastri, President and CEO, Terrascale Technologies. "The tremendous interest in Terrascale - as an investment opportunity - has enabled us to hand-pick our financial partners. We will continue to apply our proven management practices and look forward to rewarding our investors," Mr. Sastri added.
About Terrascale Technologies
Terrascale Technologies develops next-generation software solutions that enable existing serial applications to become high-performance, linearly scalable and massively parallel solutions that run on commodity Linux servers and networks. Terrascale's flagship product TerraGrid(tm) enables commodity compute and application clusters - running on standard networks - to achieve wire-speed I/O rates, without additional hardware and while co-existing with the rich suite of open source Linux software. Founded in 2002, Terrascale Technologies is incorporated in Delaware with offices in Albuquerque, New Mexico and Montreal, Canada. Terrascale also has a European partnership in Munich, Germany. For more information, please write to firstname.lastname@example.org.
For further information: Mark Lowe, PRagmatic Communications for Terrascale Technologies (514) 499-9632, email@example.com Gautham Sastri, President and CEO, Terrascale Technologies, (514) 296-6393, firstname.lastname@example.org