Coraid Appoints Dave Kresse as CEO to Continue Expansion in Enterprise and Cloud Markets

Marketwired

REDWOOD CITY, CA--(Marketwired - Sep 12, 2013) - Coraid®, a leading provider of scale-out Ethernet storage solutions, today announced that it has appointed Dave Kresse as Chief Executive Officer. Kresse will lead the company's continued expansion into the enterprise and cloud markets, building on the company's growth and award-winning EtherDrive® and EtherCloud™ platforms. Kevin Brown, who has served as the company's CEO since 2009, has moved to the Coraid board of directors as an independent director, where he will contribute to company strategy and key industry initiatives, including participation in the OpenStack community.

Kresse brings more than 15 years of executive experience in the technology industry, most recently as CEO of application performance and security vendor Mu Dynamics, which was acquired by Spirent. Prior to that, he served as vice president and general manager of NetApp's storage management and application integration business, where he drove rapid revenue growth and led the first solution integration effort between NetApp and VMware. Kresse will continue to hold a board seat as an independent director at Embrane, the software-defined network services company.

"Enterprise and cloud datacenters are undergoing a massive shift towards commodity scale-out designs and software-driven automation. Coraid is ideally positioned with top-tier customers and a proven storage platform to help customers deliver enterprise-class storage within an elastic, programmable cloud architecture," said Kresse. "Coraid has the team and is delivering the right solutions to become the storage platform of choice for the world's largest private and public cloud infrastructure buildouts."

In recent years, Coraid has gained more than 1,700 customers worldwide, including Fortune 100 organizations in the automotive, financial services, manufacturing, retail, networking, defense, aerospace and telecommunications sectors. In the cloud sector, leading customers including Sony Music, Shutterstock, RackForce, EVault and Tableau have deployed petabytes of Coraid storage to handle massive data growth and millions of customers. Over the past year, The Wall Street Journal named Coraid a Top 50 Startup, and Bloomberg Businessweek highlighted the company as a Hot Enterprise Startup. 

The company's EtherDrive platform combines enterprise-class storage features with a scale-out architecture running on massively parallel Layer-2 Ethernet, enabling customers to achieve the elasticity and economics of web-scale clouds without trading off performance or resilience. Coraid EtherCloud adds powerful policy-based automation to enable one-click self-service, lower OPEX, rapid service innovation and integration into modern cloud stacks such as OpenStack.

"Coraid has a tremendous opportunity to redefine storage in the cloud era. Dave Kresse brings an ideal combination of entrepreneurial and large-scale operational experience in the storage industry, and we're delighted to have him on board," said John Jarve, managing director of Menlo Ventures and member of Coraid's board of directors. "On behalf of the Board and the entire Coraid team, I want to thank Kevin for leading Coraid's growth to become one of the most exciting next-generation storage companies and positioning us to redefine the $30 billion global storage market. We look forward to his continuing contributions on our board of directors."

About Coraid

Coraid redefines storage with its breakthrough line of EtherDrive and EtherCloud solutions. Coraid delivers scale-out performance, Ethernet simplicity, and an elastic storage architecture to handle massive data growth and cloud automation. Designed from the ground up for virtualization and cloud architectures, Coraid's platform has been deployed by more than 1,700 customers worldwide. For more information, please visit www.coraid.com.

Coraid and EtherDrive are registered trademarks of Coraid Inc. EtherCloud, CorOS, Zero Hour Support, EtherFlash, Yunteq, and Scale-Out Virtual Storage are trademarks of Coraid, Inc. All other trademarks, service marks, registered marks, or registered service marks are the property of their respective owners.

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