MOUNTAIN VIEW, CA -- (Marketwire) -- 11/29/12 -- Gridstore™, the leader in software defined storage solutions, today announced that the company has been named a finalist in the Red Herring Global 100 for delivering the next generation of scale out storage. The Global 100 is considered by many technology executives, investors and industry observers as an indicator of the most promising young companies that will lead the next wave of market disruption and innovation.

The Red Herring editorial team selected the most innovative companies from a pool of 1200 companies from across the world -- the finalists from its Red Herring Asia, Europe and North America Awards. The nominees were 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. This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz" and make the list an important instrument for discovering and advocating the greatest business opportunities in the industry.

"2012 has been an excellent year and extremely rewarding," said Anam Alpenia, vice president, Red Herring. "Despite the ongoing impact of the global economic situation, there are many great companies producing truly innovative and amazing technologies, to the extent that we had a hard time narrowing the pool and selecting the finalists. Gridstore shows great promise and therefore deserves to be among the finalists. Now we're faced with the difficult task of selecting the winners of the Top 100 Global Award."

Businesses of all sizes are suffering from the explosion of data growth. With this, the cost is also exploding and it becomes impossible to scale efficiently with legacy architectures. Gridstore addresses the influx of data that traditional monolithic architectures have not been able to solve. Gridstore is first to market with an advanced grid-based, software-defined scale-out storage platform that scales as a business's data needs scale, no overprovisioning, no wasted capacity. The Grid revolutionizes the way users manage their storage, and seamlessly integrates into an organization's existing environment.

"Our team is happy to be recognized by Red Herring for delivering a simple, powerful and affordable storage solution that scales dynamically with customer needs," said Kelly Murphy, CEO of Gridstore. "We are addressing the needs for the mid-market and giving them an alternative to monolithic storage that was never designed to solve their storage requirements. The Red Herring team selected a top-notch lineup of companies as its group of finalists and we take pride in being among these innovators."

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About Gridstore
Gridstore is the leading provider of software defined storage that turns simple storage building blocks into the world's most powerful and affordable storage without limits. Gridstore brings the era of mainframe-style monolithic storage and its disruptive forklift upgrades to an end. The Grid allows businesses to start small and pay as they grow to any size while growing more powerful with each additional block. We eliminate the frustrations of planning and forecasting for the unknown. No more headaches, no more disruption to the business. Now you can effortlessly give your organization the powerful storage it demands. Gridstore is headquartered in Mountain View, Calif. and has development facilities in Dublin, Ireland. For more information, please visit: http://www.gridstore.com.