September 22, 2010 08:30 ET
Actifio Closes $16 Million in Series B Round of Financing to Address Global Demand for Dynamic Data Management Virtualization
Advanced Technology Ventures Leads Strategic Investment to Capitalize on Explosive Market Opportunity for Next-Generation Data Protection Solutions
WALTHAM, MA--(Marketwire - September 22, 2010) - Actifio, the leader in Data Management Virtualization (DMV), today announced that it has closed $16 million in its second round of venture financing, bringing the company's total venture funding to $24 million.
The series B round was led by Advanced Technology Ventures (ATV), with participation by current investors North Bridge Venture Partners and Greylock Partners. Actifio will expand sales and marketing with this investment, to rapidly grow market share of the Actifio software suite comprised of Actifio™ DP, for data protection, Actifio™ DR, for disaster recovery and Actifio™ BC, for business continuity.
Bob Hower, General Partner of ATV, said, "Actifio is a breakout company that is changing the game for how data is protected and managed. The traction for its innovative data management virtualization solutions across a broad spectrum of customers has been very impressive. The company is delivering on the promise of DMV to transform data management offerings from individual silos of point products to a powerful, virtualized solution that establishes a new benchmark for reduced capital and operational expense across the entire data lifecycle."
The new investment is a result of Actifio's rapid rise in the marketplace and is an endorsement of its ground-breaking approach to next-generation data protection. Actifio DMV solutions have gained significant traction with customers and strategic partners to transform data management application silos into a single, simple and virtualized pool to simplify data protection, disaster recovery and business continuity and drive down costs by up to 90 percent.
"The strategic investment from ATV and from all our existing investors is a validation of the burgeoning market opportunity for Data Management Virtualization," said Ash Ashutosh, president and CEO of Actifio. "Our growth is accelerating as customers recognize the simplicity, economics and vision of our dynamic data protection solutions that transform the data protection stack to a fully virtual IT infrastructure removing management complexity and cost at each step of the data lifecycle."
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Actifio delivers a next-generation data management solution with radical simplicity, unprecedented agility and up to an order of magnitude lower cost. Based on Data Management Virtualization (DMV) technology, Actifio transforms individual silos of point tools into a unified solution using efficient pipelined management across the data lifecycle. The company's patent-pending DMV technology delivers unified data protection, disaster recovery and business continuity across the data lifecycle for virtual and physical IT environments. For more information, please visit: http://www.actifio.com.