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Veteran Hedge Fund Investor Adds Tech Growth Investment and Public Markets Experience to Carbonite Board
BOSTON, MA – Jan. 06, 2016 — /BackupReview.info/ — Carbonite, Inc. (Nasdaq:CARB), a leading provider of cloud and hybrid business continuity solutions for small and midsized businesses (SMBs), today announced that Scott Daniels has been appointed to the Company’s Board of Directors.
Daniels will hold office until 2018, completing the term of Pravin Vazirani who, concurrently with the appointment of Daniels, resigned as a director of the Company on December 31, 2015. Vazirani, Managing Director at Menlo Ventures, is leaving the Board to continue his focus on very early stage private investments. The Company and the Board expressed sincere gratitude to Vazirani for his years of service dating back to the company’s early days.
“On behalf of everyone at Carbonite, I want to thank Pravin for the guidance and support he has provided to the Company over the past decade,” said Mohamad Ali, President and CEO of Carbonite. “As Carbonite enters its next phase of growth, I am delighted to welcome Scott Daniels to the Board. Along with a wealth of financial expertise and a strong technology background, Scott brings valuable experience in public equities investment and capital markets to our Board of Directors.”
Daniels has spent his entire career investing in and working with public technology companies. He was a senior analyst at Shannon River Partners, a private hedge fund focused on technology, media and communications companies. Prior to Shannon River, Daniels was a partner at S Squared Technology, a technology investment fund where he evaluated and invested in multiple publicly traded small and midsized emerging growth technology companies around the world. At S Squared, Daniels focused on enterprise software, storage, networking and SaaS sectors. Before joining S Squared, he was a research analyst at CIBC World Markets covering software. Early in his career, Daniels spent five years working in the software industry in finance operations roles. Daniels received his B.A. degree from University of Pennsylvania, and holds an M.B.A. from Columbia Business School.
“I am thrilled to work with the team at Carbonite.” said Daniels. “The acquisition of EVault positions Carbonite to capture market share at the high end of the SMB market which expands the company’s total addressable market to an estimated $40 billion worldwide. EVault’s disaster recovery as a service (DRaaS) and cloud-based appliances already provide scalable, easy-to-use solutions to thousands of midsized businesses. The growth opportunity for Carbonite is extraordinary and I look forward to helping the company take advantage of it.”
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