SOURCE: Coraid

Coraid

February 13, 2013 07:00 ET

Coraid Names Stewart Grierson as Chief Financial Officer

Industry Veteran Joins Coraid to Accelerate Adoption of Software-Defined Storage

REDWOOD CITY, CA--(Marketwire - Feb 13, 2013) - Coraid, a leading provider of software-defined storage solutions, today announced that Stewart Grierson has been named chief financial officer and senior vice president of operations. Grierson will be responsible for shaping Coraid's financial model and operations for maximum leverage as the company continues its worldwide expansion.

Prior to joining Coraid, Grierson served as CFO of leading security firm ArcSight, Inc., which he helped lead to a successful IPO and ultimately to a $1.5 billion acquisition by Hewlett Packard. Prior to ArcSight, he served as vice president and corporate controller at ONI Systems Corp., where he was a key member of the IPO team. Earlier in his career, he served as a senior manager in the audit practice of KPMG LLP. Grierson currently serves on the board of Ruckus Wireless and was named CFO of the Year in the Public Company category in 2009 by the Silicon Valley/San Jose Business Journal.

"The adoption of cloud architectures and the explosion of big data are creating significant opportunities in the $30 billion storage industry," said Grierson. "Coraid has introduced a breakthrough architecture for handling cloud-scale data and commercialized it for use by enterprise, government and cloud operators. The company is poised to take advantage of the transformative shift occurring within the modern data center, and I'm very pleased to join the team."

Coraid finished another year of strong momentum in 2012, growing sales by a factor of two over the past year and by more than a factor of 12 in the last three years. Coraid solutions have been deployed by over 1,700 customers worldwide that span a wide variety of industries, including manufacturing; finance; healthcare; education; public cloud service providers; federal, state and local governments; and defense.

"Coraid has emerged as a top challenger to the traditional storage vendors, and this is an ideal stage to add a world-class CFO," said Kevin Brown, CEO of Coraid.

"Stewart Grierson is widely recognized as one of the top CFOs in the technology industry, and he has hit the ground running as an integral part of the Coraid team," said Audrey MacLean, chairman of Coraid.

Coraid offers a full range of data storage and automation products that enable elasticity and simplicity at scale, using a new generation of Ethernet-based storage networking. Coraid EtherDrive® storage arrays feature a scale-out architecture that uses commodity hardware and a distributed operating system to pool storage resources into a single logical system. Coraid's EtherCloud™ platform for software-defined storage enables one-click automation of enterprise-class storage, with full programmability for integration into public and private cloud stacks.

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. 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, visit www.coraid.com or follow Coraid on Twitter at www.twitter.com/Coraid or LinkedIn at http://www.linkedin.com/companies/Coraid.

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 marks referenced are the property of their respective owners.