Copy data management startup Actifio has raised $50 million in a new round of funding to help companies reduce the number of extra copies of data they need to operate.
Waltham, Mass.-based Actifio was founded in 2009 and promises its customers that its service makes it possible to recover data instantly. It also addresses the amount of storage needed for data management. The service ideally makes it so a single copy’s a company’s data can be reused for any reason.
The new funding was led by Technology Crossover Ventures, with participation by Andreessen Horowitz, ATV, Greylock Israel, and North Bridge Partners. Including the new round, the company has raised $107.5 million to date.
“We didn’t set out to raise another $50MM this quarter, or expect to have raised over $100MM in total by this point in our growth,” Actifio CEO Ash Ashutosh said today in a blog post. “I recognize that’s an enormous amount of money, and I’m humbled by the faith of the people who’ve invested it in us. This last round actually happened very quickly. It pegs our enterprise value up around half a Billion – with a “B” – which is a long way indeed from where we started just 3 years ago.”
Data center via Shutterstock