Symbolic IO Announces Executive Management Changes

 
symbolic-io-transparent.png
 

Carr Bettis and Thomas Cowan to Lead Company Through Strategic Round of Funding and Transition to its Permanent Executive Team

Holmdel, NJ (August 31, 2017) – Symbolic IO™, developer of the industry’s first computational-defined storage solution, IRIS™ (Intensified RAM Intelligent Server), today announced that Carr Bettis is now Executive Chairman of the company and Thomas Cowan has been appointed as the interim Chief Executive Officer. Bettis, working with Cowan, will drive the strategic direction of Symbolic IO and guide the company through the next round of funding and transition to its permanent executive team.

As part of the executive management changes, former CEO Brian Ignomirello was terminated on May 31, and former President and COO Jonah Ninger has left the company.

Carr Bettis manages a private equity portfolio via Fathom Lab and has materially participated in the 2016 and 2017 note financing for Symbolic IO. He is Chairman of quantitative financial technology firm Verus Analytics, Chairman of AudioEye (AEYE), and serves on the board of First Contact Entertainment. A serial entrepreneur and financial technology innovator, Bettis is the founder and chief architect of numerous market-leading financial science and technology companies, including five exits to multinationals.

Thomas Cowan is a seasoned executive with 30-plus years’ experience spanning a broad range of companies and boards of directors. He will manage day-to-day operations as the company transitions from the development to the operational phase. Working with Symbolic IO’s executive team and investors, Cowan will be instrumental in guiding the company through its second round of funding and search for a Chief Executive Officer. He has held CEO, executive, and board positions at IBM, Tivoli, OutlookSoft, Tagetik, Decisyon, PGA.com and NHL.com. Currently he serves as board director and advisor to tech companies, investment firms, and CEOs, and is on the faculty at Columbia University and Director of the Columbia University Center for Technology Management.

“Transitioning from the development stage to now delivering on its transformative IRIS product line, Symbolic IO is uniquely positioned to address the complex computing and application challenges of today’s enterprises,” said Bettis. “Along with Tom, I am committed to guiding the company and helping accelerate its go-to-market strategy and next phase of growth.”

“This is an exciting time for Symbolic IO,” added Cowan. “I look forward to working closely with Carr and the seasoned executive team to realize the full potential of the IRIS technology and creating new market opportunities for the product line.”

Symbolic IO is the first computational-defined computing and storage solution solely focused on an advanced computational algorithmic compute engine, which materializes and dematerializes data, to effectively become the fastest, most dense, portable and secure, media and hardware agnostic storage solution available today. IRIS is currently deployed at leading telecommunications companies, an advertising network, a global research facility, and a major university.

About Symbolic IO

Symbolic IO is the first computational-defined computing and storage solution solely focused on an advanced computational algorithmic compute engine, which materializes and dematerializes data, to effectively become the fastest, most dense, portable and secure, media and hardware agnostic storage solution available today. Based in the Bell Works facility, formerly Bell Labs, located in Holmdel, NJ, Symbolic IO and its IRIS™ product line is transforming enterprise computing and storage for media, government, healthcare, finance, military and other industries. For more information, visit www.symbolicio.com.

# # #