Data Domain, data storage and recovery company, raises $111M in IPO

Data Domain, a Santa Clara, Calif. provider of storage appliances for disk-based backup and network-based disaster recovery, has raised $110.85 million in its IPO.

Its 7.39 million shares priced at $15 per share, above its $11.50-$13.50 targeted range, giving the company an approximate market value of $777 million.

Data Domain raised around $41 million in funding, giving Greylock Partners a 30.3 percent in the company before the IPO, and New Enterprise Associates 28.9 percent and Sutter Hill Ventures 16.8 percent. .