TEANECK, NJ -- (Marketwired) -- 05/07/14 -- Data Dynamics, Inc., a leader in solutions for the discovery, policy based mobility and migration, reporting and on-going management of file-based storage, today announced it has been selected as a finalist for the Red Herring North America 100 award, a prestigious list honoring the year's most promising private technology ventures in North America. At the Red Herring Americas 2014 event on May 14th, the awards will be announced and Data Dynamics CEO Piyush Mehta will present on the business advantages of automated file storage migration technology to enable fast and compliant technology upgrades, consolidations and data archiving.
Red Herring has been selecting the most exciting and promising start-ups and "scale ups" since 1995. Finalists are still evaluated individually from a large pool of hundreds of candidates based across North America. Twenty major criteria underlie the scoring and process. They include, among others: the candidate company's addressable market size, its IP and patents, its financing, the proof of concept, trailing revenues and management's expertise. Each company goes through an individual interview after filling out a thorough submission, complemented by due diligence. The list of finalists often includes the best performing and prominent companies of that year.
This unique assessment of potential is complemented by a review of the company's actual track record and standing, which allows Red Herring to see past the "buzz" and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.
"2014 will be remembered as a special vintage. The finalists list confirms the excellent choices made by entrepreneurs and VCs and the start-ups' solid roots in corporate America, embracing their innovations. By all metrics, it emphasizes the United States' entrepreneurial excellence," said Alex Vieux, publisher and CEO of Red Herring.
Finalist selections for the 2014 edition of the Red Herring 100 North America award are based upon technological innovation, management strength, market size, investor record, customer acquisition and financial health. During the several months leading up to the announcement, hundreds of companies in the fields of security, Web 2.0, software, hardware, life sciences, cloud, mobile and others completed their submissions to qualify for the award.
Finalists are asked to present their winning strategies at the Red Herring North America Forum in Monterey, Calif., May 14 to 16, 2014. The Top 100 winners will be announced at a special awards ceremony the evening of May 16th during the event. The forum provides a rare opportunity to meet the founders, investors, and top executives of these disruptive companies all under one roof. The event will explore the market's appreciation of innovation as a fast-track to success, and how firms from the Americas are leading the charge in many tech sectors. It will discuss the drivers for successful entrepreneurship, and will demonstrate how innovation is creating business opportunities for challengers and incumbents alike.
As a finalist in this year's awards, Data Dynamics will present on industry-compliant solutions that accurately speed the transition to advanced file storage technologies by up to 50%, compared to manual processes. The company's StorageX platform mitigates the risk of downtime and data loss during migrations, consolidations and archiving by leveraging patented technology to maintain data access. The storage management platform provides enterprise lifecycle management for large, complex, multi-vendor file storage environments and centralizes the management of network file storage environments when updating Network Attached Storage (NAS) and Windows storage environments.
"There is growing demand for more powerful file storage systems as IT professionals confront the challenges of data growth," said Peter Mehta, CEO, Data Dynamics, Inc. "To facilitate fast transition to these new systems and the benefits they bring, our automated storage migration platform simplifies what was once a time-intensive and complex process. This ensures that organizations remain compliant and operational to speed the return on investment of new storage deployments."
About Data Dynamics
Data Dynamics is a leader in solutions for the discovery, reporting, migration and management of file-based storage. Its award-winning StorageX product suite, which was originally developed by NuView, Inc. and later acquired by Brocade, has been adopted by hundreds of enterprise customers, Fortune 500 companies, and large municipal governments as a solution for the full lifecycle management of their file-based storage infrastructure. Today, Data Dynamics is focused on developing future generations of StorageX as the industry's leading policy-based file data management solution. For more information, please visit: www.datadynamicsinc.com.