With $33.5 Million Series C Funding, Actifio to grow at a Breakneck Pace
Date: Monday , January 02, 2012
A Protection and Availability Storage (PAS) platform company, Actifio, has raised $33.5 million in series C round of funding from Andreesen Horowitz and existing investors North Bridge Venture Partners, Greylock Partners, and Advanced Technology Ventures. As part of the investment Peter Levine, a veteran enterprise IT executive and general partner at Andreessen Horowitz has joined Actifio’s board. The company had previously raised $8 million in Series A from North Bridge Venture Partners and Greylock Partners and $16 million in series B from Advanced Technology Ventures, North Bridge Venture Partners, and Greylock Partners.
This Waltham based company plans to use the funding to expand its sales coverage, enhance client support and Net Promoter Score and grow fast enough to become a relevant vendor in the market to gain the trust of the client base. It addresses a global, horizontal market with a pervasive problem and the current core focus is on mid and large enterprise IT organizations and Managed Service Provider markets.
“Data centers are in a midst of transformation to take advantage of virtualization and cloud technologies and business models. We address one of the most complex and expensive part of the stack. With a market size of over $34 billion and a proven track record of delivering value to the market, it is not a surprise that there is a significant interest in the investor community to assist and work with us to foster this paradigm shift,” says Ash Ashutosh, Founder& CEO, Actifio.