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Permabit Technology
Public and hybrid and infrastructure oems
About Permabit Technology
Permabit Technology Corporation operated as a specialized developer of data reduction software, focusing on deduplication, compression, and thin provisioning for the data storage industry. The company was originally established as Permabit Inc. in 2000 by a technical and business team from the Massachusetts Institute of Technology. A significant milestone occurred in 2007 with a management buyout, leading to the formation of Permabit Technology Corporation, which was headed by CEO Tom Cook and Founder and CTO Jered Floyd.
The firm's business model centered on providing software that increased storage efficiency, thereby reducing the physical footprint and operational costs for data centers. Its clientele primarily consisted of original equipment manufacturers (OEMs), software-defined storage vendors, and cloud service providers. Permabit licensed its technology to major industry players, with companies like Dell EMC, Hitachi Data Systems, and IBM integrating its solutions. This OEM-focused strategy allowed storage vendors to embed Permabit's data reduction capabilities directly into their own hardware and software products.
Permabit's product portfolio evolved over time, starting with the Permabit Enterprise Archive in 2004, a large-scale content-addressable storage product. The company later shifted its focus and launched the Albireo product family in 2010. This suite included the Albireo SDK, a software development kit for embedding deduplication, and the Albireo Virtual Data Optimizer (VDO), a drop-in software solution for Linux environments providing inline deduplication, compression, and thin provisioning. VDO was designed to work directly with the Linux block storage stack, making it compatible with various file systems and cloud storage solutions like Red Hat OpenStack Platform and Red Hat Storage. On July 31, 2017, Red Hat, Inc. announced the acquisition of Permabit's assets and technology to integrate these data reduction features directly into its Red Hat Enterprise Linux platform, aiming to enhance storage efficiency across its hybrid cloud and container technologies.
Source: Dealroom company dataKnowledge graph
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| ACQUISITION✓Exit | Jul 2017 | $0 | — | Red Hat | — |
| SERIES C✓Equity / VC | Aug 2005 | $12M | $48M | Baker Capital | — |
Growth signals
Latest recorded traffic for Permabit Technology is 0 monthly website visits. Permabit Technology's team grew 0% over the past year.
Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series B and later1 investor entered at this stage
- BCBaker Capital
Other known investors1 additional known investor
Red Hat
Source: Dealroom Talent Intelligence.
Global footprint
Market sentiment
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