Glassbeam Expands Executive Leadership, Announces New FundingGlassbeam Expands Executive Leadership, Announces New Funding
Machine data analytics company Glassbeam received $2 million in additional funding this week, on the heels of the company's appointment of industry veterans Kumar Malavalli and Sashi Reddi to executive positions. In their new roles, Malavalli will assume the title of chief strategy officer for Glassbeam, while Reddi has been appointed to the company's board of directors.
August 27, 2014
Machine data analytics company Glassbeam received $2 million in additional funding this week, on the heels of the company’s appointment of industry veterans Kumar Malavalli and Sashi Reddi to executive positions. In their new roles, Malavalli will assume the title of chief strategy officer for Glassbeam, while Reddi has been appointed to the company’s board of directors.
Glassbeam’s latest round of funding was lead by venture capital firm VKRM Group, with the money being used to develop the company’s SCALAR Internet of Things platform. As the new CSO, Malavalli will be tasked with shaping Glassbeam’s strategy and accelerating its business growth, while Reddi will play a crucial role as part of the company’s board of directors, according to the press release.
“Glassbeam is at the cusp of an explosive phase in its growth cycle. The company is well on its way to emerge as a true leader in the IoT space with its unique patentable platform and pedigreed team,” said Malavalli in a statement. “Combined with a market need for intelligent analytics for the IoT, I am confident that Glassbeam’s sophisticated technology has the potential to disrupt the IoT industry and am thrilled to provide strategic direction to this impressive team."
Malavalli is also the current chairman and co-founder of Glassbeam, along with CEO Puneet Pandit. Prior to his new role at Glassbeam, Malavalli led liquidity events such as the 1999 multibillion IPO of Brocade Communications and is widely considered to be the visionary behind Fiber Channel storage fabrics, according to the company. Reddi is the founder and managing partner of venture capital fund SRI Capital and the founder and former CEO of AppLabs and several other companies including FXLabs Studios, iCoop and EZPower Systems.
“This round of funding is another endorsement of Glassbeam’s tremendous potential in the IoT space. With the appointment of Kumar as CSO and Sashi on the board, this announcement demonstrates our exceptional company momentum,” said Pandit. “We are honored to have these experts join our team and board, as both have unparalleled depth of knowledge in software and analytics. I look forward working with Kumar and Sashi to guide future growth and bring continued value to our customers.”
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