Actifio raises $50M round at $500M valuation

Actifio, a copy data storage company based in Waltham, has added $50 million in growth equity led by Technology Crossover Ventures.

Update: The round was raised at a valuation of roughly $500 million, founder and CEO Ash Ashutosh said in an email.

Andreessen Horowitz, which led a $33 million Series C round for Actifio in December 2011, returned to participate in the new round, along with existing backers Advanced Technology Ventures, Greylock Israel and North Bridge Venture Partners. The Series D round was announced Wednesday morning in a news release.

Actifio makes copy data storage technology designed to virtualize storage of data copied for archives, backup, testing and disaster recovery, among other uses.

TCV founding partner Rick Kimball joins Actifio’s board.

In February, Ashutosh told the Boston Business Journal it was pushing back to 2014 IPO filing plans initially set for this year, due to an accounting change in how it books revenue.

The company had earlier said it projected more than $30 million in 2012 sales.

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