Waltham, Mass.-based data management firm Actifio expects to add 50 people to its Massachusetts staff over the next year as its growth continues, executives said.
Executives are no longer commenting on the possibility of an initial public offering of stock. Founder and CEO Ash Ashutosh had said in February that the firm was considering an IPO in 2014.
In March, Actifio raised a $50 million Series D round at a valuation of $500 million. The round was led by Technology Crossover Ventures and included Andreessen Horowitz, Advanced Technology Ventures, Greylock Israel and North Bridge Venture Partners. Actifio has raised a total of $107 million since its founding in 2009.
Actifio’s software-as-a-service aims to cut data management costs by up to 90 percent while also simplifying the process involved. The service revolves around drastically reducing the number of copies a company needs to make of its data, while ensuring the data is still accessible and protected.
The ultimate result: Companies that previously needed an array of software and storage hardware, along with specialized staff to run it all, can now just use Actifio, Ashutosh said.
“We are still growing fast, still doing what we said we were going to do,” he said. Revenue details are not being disclosed by the company.
Actifio employs nearly 250 worldwide, with 100 of those in Waltham — up from 80 at the headquarters in February. The company will likely hire a total of 100 people between now and this time next year, with half of those in Waltham, CFO Peter Minihane said.
In August Actifio brought on Minihane, previously CFO and treasurer of Bedford-based Acme Packet, a public company which was acquired by Oracle in February for $2.1 billion. Minihane had joined Acme Packet in 2008, two years after the company’s IPO.