Battery Ventures Promotes Itzik Parnafes to General Partner

WALTHAM, MA and MENLO PARK, CA and HERZILYA, ISRAEL--(Marketwire - Sep 13, 2012) - Battery Ventures, a multi-stage investment firm focused on technology and innovation worldwide, today announced the promotion of Itzik Parnafes to General Partner, effective immediately. Based in the firm's Herzilya, Israel office, Itzik leads the firm's Infrastructure practice, with a focus on enterprise IT themes such as storage, software defined networking, big data/analytics, and cloud technologies. Itzik led Battery's investment in flash storage pioneer XtremIO, which was acquired by EMC in May 2012. He is currently on the boards of Panaya, cVidya and LeadSpace, is a board observer for Zerto, and led the firm's investment in database virtualization firm Delphix.

"Itzik was a great partner in our journey to building XtremIO into a dominant player in flash storage," said Ehud Rokach, CEO of XtremIO. "He combines the operational experience of an entrepreneur and the technical curiosity of an engineer, with the financial acuity and broad market knowledge of a savvy investor. I could not have asked for a better combination of traits in a trusted advisor and board member."

Itzik has lived and worked in both Israel and Silicon Valley, and his roots and network remain deep along this important technology corridor. Prior to joining Battery as a Partner in 2009, Itzik was an Entrepreneur in Residence in Battery's Israel office, working alongside the team to research new areas for investment. He was previously a co-founder of VoIP pioneer Kagoor Networks, acquired by Juniper, and led the R&D of Class Data Systems, acquired by Cisco. For a full bio, visit: http://www.battery.com/people/parnafes.html.

"Itzik has made an amazing contribution firm-wide since joining us in 2009, and we are proud to welcome him to the GP team," said Scott Tobin, Battery General Partner. "This is an exciting time to be in the enterprise market. Today's entrepreneurs are solving very big, technical problems and quickly scaling companies that will redefine markets and last. We know Itzik will continue to attract great people, source compelling investments, and have an impact on these companies as they grow."

Battery is currently investing Battery IX, a $750 Million fund. The fund follows the same investment strategy Battery has employed for nearly 30 years, investing in businesses from Seed to Growth and Buyouts across a variety of technology markets. Battery's past and current portfolio includes a range of compelling Digital Media, eCommerce & Retail, Industrial Tech, Infrastructure, and Software & Services companies such as: Anobit (acquired by Apple), Angie's List (IPO), Bazaarvoice (IPO), Continuuity, Cumulus Networks, Delphix, Drillinginfo, ExactTarget (IPO), Groupon (IPO), Guidewire (IPO), HotelTonight, Kontagent, Marketo, Neolane, Nutanix, Panaya, Skullcandy (IPO), Viddy, Wayfair and Zerto. 

About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from Seed and Early Venture, to Growth and Buyouts.

Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (IPO), Anobit (acquired by Apple), Angie's List (IPO), Bazaarvoice (IPO), ExactTarget (IPO), LIFFE (acquired by Euronext), Groupon (IPO), ITA Software (acquired by Google), Neoteris (acquired by Netscreen), Omniture (IPO), and XtremIO (acquired by EMC). Its current portfolio includes emerging and more established firms such as Continuuity, Cumulus Networks, Delphix, Drillinginfo, HotelTonight, Kontagent, Marketo, Neolane, Opscode, Rogue Wave Software, Viddy, Wayfair, and Zerto.

Battery invests worldwide from offices in Boston, Silicon Valley and Israel. The firm has raised more than $4B since inception, and is currently investing a $750M fund. For more information, visit www.battery.com. Follow Battery on Twitter.