ioFABRIC Team Comes Together for the Fifth Time, Receives Seed Funding

TORONTO, July 7, 2015 /PRNewswire/ -- With a preeminent team that combines a strong history of successful management, vision and development, ioFABRIC executives are coming together for the fifth time, preparing to emerge from stealth mode with a product that promises to dramatically change the way that the ever-increasing volume of data is stored and managed. The company has received funding from private investors and Real Ventures, a venture capital firm specializing in early stage tech companies that are redefining markets by addressing big industry problems.

The team behind ioFABRIC has worked together for over twenty years across four previous startups. All four endeavors have had successful exits where their software products have offered solutions in cache acceleration, network and data security, e-commerce and authentication and authorization. ioFABRIC brings together their expertise in all these areas to deliver the next generation of storage simplicity and efficiency.

"I am excited to be working with this great team yet again," said Steven Lamb, co- founder and CEO. "Together, we will deliver a software-defined storage product that delivers industry-unique QoS-based storage automation and unifies existing and new storage investments to create a dynamic platform that delivers Storage-as-a-Service across a business. Our team definitely has the experience, background and the ability to deliver this new storage paradigm. I am pleased that Real Ventures sees the value that we will add to enterprise storage through our upcoming product offerings. Their investment in our company enables us to move forward with our company's visibility and product launch."

"Storage is undergoing a technological evolution that we see only once every few decades, and it's an exciting time to be involved with the entrepreneurs and technologists who are attacking tough strategic problems, and creating tremendous value across the enterprise storage stack. We believe ioFABRIC has the technology and creativity to usher in the next phase of innovation in storage," said JS Cournoyer, General Partner at Real Ventures. "We are pleased to make this significant investment in ioFABRIC and partner with Steven and his team. They are poised to make a significant impact on the software-defined storage market."

Lamb, who is heading up the team at ioFABRIC with his fifth software venture, brings a broad range of strategic positioning, management skills and leadership experience to the company.  His first company, Border Network Technologies, became the second largest firewall vendor worldwide. Others included INEX, Nevex Software and the most recent, NEVEX Virtual Technologies, a cache acceleration company.

Rayan Zachariassen, Co-founder and Chief Technology Officer at the company, is an expert in network and systems architectures and systems software support for efficient data storage systems. Zachariassen's vision is to simplify control and management of data across the enterprise. Andrew Flint, Vice President of Marketing, brings enormous experience with product and corporate marketing to enterprise targets. Nigel Miller, who directs business development at the company, rounds out this strong team with leadership experience at the C-level and in Fortune 500 companies. 

About Real Ventures
Real Ventures is the leading source of seed stage capital in Canada. Established in 2007, Real has invested in over 150 companies across three funds. Their growing team of ex-founders and entrepreneurs is laser focused on doing one thing: serving entrepreneurs and nurturing the communities in which they thrive. Visit realventures.com.   

More information on ioFABRIC and product details will be released next month.

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SOURCE ioFABRIC

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