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Pivot3, Inc. announced a $55 million equity and bank financing closing today.

The funding will accelerate the company’s growth and enable it to bring to market the most extensive suite of hyper-converged and flash storage solutions with predictable performance that is available today. Pivot3NexGen_0127

Argonaut Private Equity and S3 Ventures are providing funding for this round.

The support for Pivot3’s strategy and growth record from existing investors as well as the interest from new investors are indicators of Pivot3’s future business success.

We are dedicated to investing in market-leading companies that deliver innovative solutions for real world problems, and Pivot3 exemplifies our mission,” said Steve Mitchell, MD, Argonaut Private Equity. “Hyper-converged infrastructure and flash storage are two emerging markets that are experiencing unprecedented growth. Pivot3 is poised to become an unparalleled presence with truly differentiated solutions that address the cost and complexity of the modern IT data center in a far broader and more comprehensive way than its competitors.”

As part of this financing, Pivot3 will move its banking relationship to Square1 Bank, the emerging leader in technology financing.

The insight to future technology needs and the aggressive movement to market opportunities that we see in Pivot3 make it a great customer for Square1 Bank and our team of technology bankers,” said Ken Fugate, founder and MD, Square1 Bank. “We expect to grow over the years with them.”

In February 2016, Pivot3 acquired NexGen Storage, provider of PCIe flash arrays with storage QoS and dynamic provisioning capabilities. The two companies combined capabilities allow customers to apply the right infrastructure and priority to each workload, application or business service according to its business value and to guarantee the appropriate level of service.

The latest round of funding will accelerate the integration of the combined NexGen and Pivot3 product set, development of new products and advancement of the go-to-market plan.

Click Here for more.

Consolidation Temptation- MONEY MONEY MONEY

23 Oct 2015, Posted by Jeska Rayboy in Blog

What an exciting time to be in the Storage and Data Center Infrastructure market!!! It is so competitive with new technologies popping up everyday that companies are rampantly partnering up for better future strategic positioning. If you thought that Symantec selling Veritas for 8 Billon (Click here for article) was a big deal, that looks like small potatoes compared to Michael Dell’s purchase of EMC. Who saw that 67 Billion dollar acquisition coming? (Click here for article ).  Dell and EMC are both hugely successful companies in their own right, and the combined firm will be a major force to be reckoned with.  It will be very interesting to hear about how things develop with this mega-merger. As we receive additional feedback from people in the marketplace, we will post future updates.dell emc 2

The Dell/EMC acquisition isn’t the only one that has happened in the past month, just the most expensive… Perhaps everyone is getting ready to crush it in 2016. IBM just bought Cleversafe (Click here for article).Western Digital bought SanDisk  for 19 Billion (Click here for article). Thales Group bought Vormetric  for 400 Million (Click here for article).

Who do you think will be the next corporate marriage????!!!!!

Jordan Rayboy, CEO of Rayboy Insider Search, is a renowned speaker and trainer for search consultants globally in the areas of recruiting best practices and skill building. jordan speaking You can catch Jordan presenting two sessions at the NAPS conference (National Association Of Personnel Services www.naps360.org) in Boston, MA.  He will also be Presenting a full day at RMAR (Rocky Mountain Association of Recruiters rmar.org) in Denver, CO.  Jordan speaks candidly about relevant topics with humor and passion. His intention is to elevate the level of the search industry as a whole.

Need Inspiration? Check us out at www.Rayboyis.com to learn more!!!!

Should These Emerging Storage Startups Be On Your Radar?

11 Sep 2015, Posted by Jeska Rayboy in Blog

Traditionally, data storage has been all about capacity — how many terabytes, petabytes, even exabytes, can I squeeze into that system? But, today, speed and performance have become as important as capacity, if not more so, and that’s led to booming sales of flash storage and hyper-converged systems.emerging technology company

And that’s why the storage technology arena has recently been one of the most active segments of the IT industry. Some like Pure Storage have been around for a while and attracted a lot of attention — and a lot of venture funding. Others are just getting out of the starter’s block.

Here’s a look at 10 emerging vendors in the storage arena that you should be aware of:

Cohesity

Santa Clara, Calif.

Top Executive: CEO Mohit Aron

Storage startup Cohesity exited stealth mode in June with $70 million in venture financing and unveiled the availability of its first data storage system.

That system, the Cohesity Data Platform, is an infinitely scalable converged platform that provides a full range of integrated data-protection services, including storage of backup and archival data, and cloud connectivity. Data can be easily cloned for test and development. It also includes an integrated data analytics software application and allows integration with customers’ choice of application.

 

DataGravity

Nashua, N.H.

Top Executive: CEO Paula Long

After several years of development, DataGravity exited stealth in 2014 with its “data-aware” Discovery Series storage systems that help IT managers and line-of-business users store, protect, search and govern their data. At the core of the system is the DataGravity Engine that analyzes data as it’s ingested.

The company sells exclusively through the channel and recruits solution providers to its DataGravity Partner Network.

 

Hedvig

Santa Clara, Calif.

Top Executive: CEO Avinash Lakshman

Hedvig exited stealth mode in March with the introduction of a software-defined storage system the company said not only breaks the tie between storage software and hardware but also provides the widest range of storage services.

The Hedvig Distributed Storage Platform, based on software-defined storage technology, provides a level of abstraction that lets compute platforms consume storage regardless of whether it is file, block or object storage. It provides a wide range of services, including replication, disaster recovery, compression and de-duplication.

Click Here for Full Article.

Seagate Technology plc and Dot Hill Systems Corp. have entered into a definitive agreement under which a wholly-owned indirect subsidiary of Seagate will commence a tender offer for all of the outstanding shares of Dot Hill in an all-cash transaction valued at $9.75 per share, or a total of approximately $694 million on a fully-diluted equity value basis.join hands

As Dot Hill has approximately $49 million in cash on its balance sheet as of June 30, 2015, the transaction reflects an enterprise value of approximately $645 million. The consideration represents a 50% premium over the preceding three month stock price average.

Dot Hill’s external storage array-based systems and software products will complement and expand Seagate’s storage systems offerings and be offered as part of Seagate’s cloud systems and electronics solutions business. Seagate will leverage Dot Hill’s storage technology IP portfolio and software capabilities to drive innovation and provide incremental value to their combined OEM customer base. Click Here For Full Article.

Infinidat Raises $150 Million, $1.2 Billion Valuation

21 Jul 2015, Posted by Jeska Rayboy in Blog

To say Moshe Yanai is an influential figure in the storage industry would be an understatement. Having led the development of EMC’s flagship Symmetrix platform and founded several startups, he also has over 40 patents to his name in the US. His latest venture Infinidat is one of the most valued privately held companies in the world, and Yanai has stated his vision for this company is an IPO. It looks like he is headed in the right direction.golden egg

 

Infinidat Inc., a secretive young data storage company, has burst into public view with $150 million in new funding and a valuation of $1.2 billion, placing it among the most valuable privately held companies in the world.

The round was led by TPG Growth and takes total funding to $230 million, which may be enough to take Infinidat to an initial public offering, according to head of marketing Gareth Taube.

Founder and Chief Executive Moshe Yanai “has started and sold a number of companies, but his mantra for this one is to take it public,” Mr. Taube said. Read Full Story

Mark Sasson, Sr. Search Consultant at RayboyIS, shares his expertise on current hiring practices used in today’s marketplace:

expert advice

While many people – including myself – cling to the belief that nothing replaces an in-person meeting, the next best option is a video interview. The majority of candidates I represent are typically home-based and report to managers located hundreds, if not thousands of miles away. That coupled with busy travel schedules on both ends creates logistical nightmares when it comes to lining up in-person interviews.  Fortunately, there’s an app for that.

In my tenure as a headhunter in the Cloud/Infrastructure niche, I’ve seen the hottest technologies become commoditized. LinkedIn profiles are quickly replacing resumes and there is a HUGE increase in video interviews, or video chats.

Common Applications for Video Interviewing

A hiring manager may choose to include a video chat in the interview process for a number of purposes:

Getting to know you

Unless it’s overwhelmingly convenient from a location and scheduling standpoint, the first interview is typically an exploratory phone call. Having the opportunity to interact face-to-face on a video chat will always provide greater insight into whether it is worth moving to the next step (for both parties).

Presentations

This is usually applied to the technical folks that I represent who are asked to present a product demo or POC (Proof of Concept).

Allowing their boss to meet you

Often times there is a requirement (by HR or self-imposed) for VP or C-level approval on hiring. Rather than push out a final interview until the big-wig is available, some of my clients are beginning to rely on video chat to satisfy that requirement sooner.

Replacing the in-person interview completely

“Laying eyes on the candidate” is usually a must. That said, in unique circumstances where timing is an issue, a video chat can replace the in-person meeting completely. I recently made my first hire with a client in that scenario. While I don’t see it becoming a trend in the near future, it can and does occasionally happen.

Trends on Video Interviews

Since starting my recruiting career about five years ago, there has been a consistent increase in the amount of video interviews year over year.

  • 2011 less than 20% of the interview processes included a video chat
  • 2012 saw a small increase to just under 25%
  • 2013 the number shot up to close to 40%
  • 2014 about 60% of all our interview processes included a video chat
  • To date (as of 6/2015) 75% of the interview processes we are running consist of a video interview
  • The marked increase is likely due to a number of factors:
  • More tech-savvy hiring managers that are comfortable using the technology
  • Higher reliability of Wi-Fi and availability due to smart phones/tablets
  • More competitive candidate-driven hiring environment and recognition that “Time Kills All Deals”
  • Busier travel schedules
  • Our recommendations to clients based on previous success

Click here for full article.

Investment continues to flow into storage startups, with Tegile Systems the latest company receiving a major cash infusion, closing a $70 million Series D funding round. The new funding brings the company’s total capital raised to $117.5 million to date, and will be used to finance its global expansion and address the opportunity within the enterprise flash storage market space.funding 2

Three new investors, Capricorn Investment Group, Cross Creek Advisors and Pine River Capital Management, join existing investors August Capital, Meritech Capital Partners, Western Digital Corp. and SanDisk Corp. to fund the round.

With a best-in-class product portfolio, an award-winning partner program, and numerous industry accolades, Tegile continues to set the bar for up-and-coming storage vendors,” said Dipender Saluja, MD, Capricorn Investment Group. “Tegile is transforming the storage industry by offering unique storage solutions that strike the perfect balance between performance and economics. The opportunity to partner with Tegile and help scale the company as it continues its rapid ascent in the flash storage industry is one that we simply could not afford to pass up.”

Tegile provides flash-optimized storage solutions that enable businesses of all sizes to accelerate their applications, reduce their storage footprint and cut operational costs. Tegile shipped its first storage array in 2012. Since then, the company has deployed more than 1,500 systems within mid-sized and large enterprise environments and has experienced year-over-year revenue growth of 350%. Read More.

HP Still Spending- Buys Aruba Networks for $3B

03 Mar 2015, Posted by Jeska Rayboy in Blog

HP has Cisco squarely in its sights with $3B acquisition of Aruba Networks

Solution providers Monday said Hewlett-Packard’s $3 billion acquisition of wireless networking high-flyer Aruba Networks will put the heat on networking leader Cisco Systems.buyer seller

“This deal to me shows the vulnerability of Cisco and the fiefdom Cisco had in networking,” said Bob Venero, CEO of Future Tech, a Holbrook, N.Y.-based HP and Aruba partner. “HP is going after Cisco for a bigger piece of that market.” Another top executive for a national HP enterprise partner, who did not want to be identified, said the deal opens up a new innovative, best-in-class wireless offering to go head to head against Cisco.

MORE.

VC money keeps flowing into high growth storage start-ups that have a compelling value proposition. Below are some details on what Pivot3 and Exablox  have to offer that is exciting enough in such a competitive market to receive additional support and funding in 2015. vc funding

 

Pivot3 receives $45 million

Pivot3, Inc., in hyper-converged infrastructure (HCI) solutions, announced a $45 million equity and bank financing closing.

Argonaut Private Equity, a new investor in the company, joins S3 Ventures, InterWest Partners, Mesirow Financial Private Equity, and the Wilson Sonsini Goodrich & Rosati investment fund in providing additional equity in this closing.

As a part of this round, Steve Mitchell, MD of Argonaut Private Equity, will join the board of directors.

We invest in premier companies that can transform large and important industries,” said Steve Mitchell, MD, Argonaut Private Equity. “Pivot3 is on the leading edge of a once-in-several-decades transformation of the underlying technology that operates IT data centers globally.”

Industry analysts predict dramatic market growth in hyper-converged systems. According to the Technology Business Research quarterly webinar series in October 2014, “Converged systems are the go-to alternative to complicated piece-part infrastructure, sparking a $17.8 billion global market opportunity.”

The pervasive need to address unmanageable IT complexity while providing lower cost and improved service on a global scale has created an environment for explosive growth in the HCI market,” said Ron Nash, chairman and CEO, Pivot3. “Pivot3 now has the opportunity to go from being an original innovator of hyper-converged infrastructure to becoming a global leader in providing transformative IT infrastructure technology to our customers, who are leaders in IT and security organizations.”   Click here for more. 

Exablox receives $16 Million

Exablox Corp. has received a $16 million Series-C funding round.

Dell Ventures is now a strategic investor, joining existing investors DCM Ventures, Norwest Venture Partners and US Venture Partners.

This investment validates Exablox’s vision for delivering scale-out object storage to every organization.

The company has now received $38.5 million in total funding.

The recent IDC Worldwide Object-Based Storage 2014-2018 Forecast Report projects that the file-and-object-based storage market will be $43.4 billion in 2018. IDC also states that by 2018 scale-out solutions will account for approximately 80% of the FOBS market.

With traditional models storage often has been purchased on a three- to four-year refresh cycle, forcing IT organizations to overprovision storage in anticipation of future business needs, which often results in forklift upgrades as business requirements change. This antiquated approach does not fit in an era of overwhelming growth in unstructured data, big data and the Internet of Things. Exablox’s OneBlox scale-out architecture provides a scalable solution that eliminates forklift upgrades and enables IT organizations to nearly instantaneously scale storage capacity, performance and/or availability to exactly meet their current business needs. Click here for more.