Seanodes Awarded $2.4 Million in Funding from French Innovation Agency OSEO

BOSTON--(Business Wire)--
Seanodes, the creator and leading developer of Shared Internal
Storage solutions, today announced it has received about $2.4 million
in funding from OSEO, France's national agency for industrial
innovation, in the form of a no-interest loan to support ongoing
technology development and company growth.

"It's a very competitive process to receive OSEO funding, as there
is an exceptional level of innovation being delivered by companies
based in France," said Jacques Baldinger, CEO of Seanodes. "We
appreciate the financial support provided for product and services,
and are honored to be recognized by OSEO as a company delivering
critical engineering and research in information technology."

"This additional funding will help to reinforce our R&D team and
investments enabling us to accelerate the porting of our solution on
Vmware and Microsoft's platforms," said Christophe Guittenit, CTO of
Seanodes.

Exanodes(TM), the Seanodes software platform, allows virtualized
infrastructure applications to marry unused disk space found in many
server and storage clusters with existing or additional dedicated
storage hardware to provide a powerful shared storage pool. Exanodes
abstracts the storage layer from the physical devices enabling users
to select the hardware and connectivity options that best suit their
environment, today and tomorrow. As more and more HPC applications are
limited by storage performance, user-friendly and non-intrusive
Exanodes radically improves the global performance of computing
infrastructures while delivering cost correct capacity expansion
capabilities eliminating the need for traditional external RAID
storage and its associated costs.

About OSEO

Established in 2005 by the French Government to support the growth
and development of innovative small and medium enterprises (SMEs)
throughout France, OSEO provides assistance and financial support to
French companies in the most decisive phases of their lifecycles:
startup, innovation, development, or business transfer/buyout. OSEO
partners with banks, financial institutions and equity capital
investors; research laboratories, universities, engineering schools,
major companies; chambers of commerce and industry trade guilds;
business startup assistance and support networks; government agencies
and private organizations; European structural funds and community
research programs. Its subsidiary, OSEO Innovation, provides aid for
technology-driven research projects with genuine potential for
commercialization. Support is provided in the form of no-interest
loans, which are reimbursed if a project is commercially successful. A
majority of companies receiving OSEO funding are in life science
sectors.

About Seanodes

The creators of Shared Internal Storage (SIS), Seanodes is
changing the architecture of Storage Area Networks and networked
storage technology. Seanodes' SIS platform Exanodes(TM) radically
alters the economics and possibilities in data storage and application
processing. Seanodes has earned multiple awards from industry analysts
and the media recognizing its outstanding technology that virtualizes
storage assets to convert unused internal disks and Direct Attached
Storage (DAS) into a clustered shared storage array. Founded in 2002,
Seanodes is headed by an accomplished team of storage industry
veterans and has corporate locations in North America and Europe. More
information can be found at www.seanodes.com or by calling
866-580-5515.

JPR Communications
Dan Miller, 818-386-0403
danm@jprcom.com
or
Seanodes
Frank Gana, +33 141 22 1380
Business Development Director
gana@seanodes.com

Copyright Business Wire 2008