(1888PressRelease)
May 07, 2009 - CUPERTINO, CA – ParaScale, a startup company developing cloud storage solutions, announced today its status as a finalist of the "Red Herring 100 North America" award, a prestigious list honoring the year’s most promising private technology ventures in North America.
The Red Herring editorial team selected ParaScale from a pool of 1, 200. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.
“The past few years have seen the accelerating conversion of analog data into digital forms, and the proliferation of rich media and other forms of content, posing new storage challenges for IT administrators. Disk based backup and content archiving have also changed the storage landscape enabling new classes of IT service and capabilities,” said Sajai Krishnan, CEO, ParaScale. “ParaScale Cloud Storage (PCS) cost-effectively addresses the capacity and read/write bandwidth scaling requirements of these applications beyond the practical limits of conventional file storage solutions. ParaScale is proud to be named as a finalist to the Red Herring North America 100, underscoring the disruptive nature of our innovative grid storage solution.”
During the several months leading up to the announcement, hundreds of companies in the telecom, communications, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions to qualify for the award.
"This year was especially difficult," said Alex Vieux, Publisher and CEO of Red Herring. "There were so many great companies producing really innovative and amazing products that we had a difficult time narrowing it down to 200. Now we’re faced with the arduous task of selecting the final 100. We know that this year’s crop will grow into some amazing companies that are sure to go far."
The CEOs of the 200 finalists are invited to present their winning strategies at the Red Herring Conference in San Diego, where the Red Herring Top 100 will be announced.
About Red Herring
Red Herring is a global media company uniting the world's best high technology innovators, venture investors, and business decision-makers in a variety of forums: a leading innovation magazine; an online daily technology news service; technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation ecosystem, featuring unparalleled insights on the emerging technologies driving the economy.
For more information, visit www.redherring.com
About ParaScale, Inc.
ParaScale is headquartered in Silicon Valley and is focused on addressing the exploding bulk storage requirements for unstructured data including digital content and archival data. By combining ParaScale software and buyer-selected standard servers, service providers can build different types of public clouds and offer a variety of cloud storage services, while enterprises can start small and build their own internal storage clouds within their own network. For more information visit, www.parascale.com.
###
