Axcient secures $6 Million in first funding round
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Mountain View: Axcient, an innovator of comprehensive data protection software-as-a-service (SaaS) solutions for small and medium-sized businesses (SMBs), has secured $6 million in Series A funding from investors Allegis Capital and Peninsula Ventures. The funding will be used to further enhance Axcient's platform, grow operations, expand sales and marketing initiatives, and better serve Axcient's expanding customer base. "Axcient's technology has the potential to seriously disrupt the SMB data backup and recovery market. In today's economy, outsourced IT professionals need to increase their revenue per customer while reducing investments in infrastructure. Axcient offers one of the most compelling ways to do that. We are very impressed with Axcient's technology solution and the team behind it, and that's why we invested in the company," said Pete Bodine, managing director, Allegis Capital. "The Axcient team brings great insight and expertise to resolving the data protection and business continuity challenges that SMBs are faced with today," said Greg Robinson, Managing Director, Peninsula Ventures. "We believe the Axcient solution is important because of its ability to help customers increase productivity and uptime, mitigate the risk of losing critical data, and eliminate capital expenditures. We look forward to working with Justin and his team in creating a successful partnership." Axcient's executive bench includes CEO Justin Moore, Vice President of Sales Victor Neeley, and Vice President of Engineering Bill Culman. Neeley joined Axcient from Seagate Services (formerly known as EVault), where he served as vice president of sales. Culman held senior engineering positions developing both software and hardware products at Interwoven, Cast Iron, Tandem Computers, BEA Systems, and Vitria Technology. "Trying macroeconomic times demand service models that free the customer from large upfront investments," said Justin Moore, CEO, Axcient. "We've been in development for the past two years to produce a data protection and business continuity platform that is built from the ground up to meet the unique business needs of the SMB market and the IT solution providers who serve them. We're proud to have the confidence of top-tier investors in the company and are excited about executing on our vision."

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