Dan Crain CEO, WhipTail TechnologiesMost recently CTO of Brocade
This is a Press Release edited by StorageNewsletter.com on 2011.01.31
WhipTail Technologies, Inc. announces the hiring of Daniel Crain as Chief Executive Officer.
"In my more than two and a half decades in the technology industry, I've never seen a young company with such an outstanding technological advantage," said Crain. "What attracts me to WhipTail and impresses me the most is the Company's work ethic and focus on its clients, as well as the ability to offer them affordable solutions that can radically transform business system performance," he said.
Crain, a 27-year veteran of the technology industry, has held executive positions at several technology companies, most recently as Chief Technology Officer at Brocade Communications Systems. Prior to Brocade, he was an original founding member of StorageApps, a New Jersey based-technology company that was the pioneer in storage virtualization, where he ran engineering, services and manufacturing. The company was sold to Hewlett Packard in 2001. He also has experience as an information technology executive in the investment banking industry, where he held senior positions at Deutsche Bank and Morgan Stanley. Crain also serves as a board member and advisor to several private venture backed technology companies.
Additionally, WhipTail announced that Spring Mountain Capital,LP, a New York-based investment management firm that focuses on alternative asset investing, has provided convertible bridge financing to WhipTail. SMC made the commitment through its SMC Select Co-Investment Fund I. Financing terms were not disclosed. With the investment, Spring Mountain Capital will have an option for a seat on WhipTail's Board of Directors and will continuously be an advisor to the company.
"Spring Mountain Capital seeks to invest in breakthrough companies," said Raymond Wong, Managing Director and Head of Private Equity Investing for SMC. "WhipTail's pivotal breakthrough has taken down the cost barrier between solid state storage appliances and conventional hard disk based storage, while delivering twenty times the performance," Wong said.