Actifio secures $US100m funding round
March 25, 2014
Actifio has secured $US100m in venture capital funding, lead by Tiger Global Management and supported by a group of existing investors.
Actifio has now been valued at $US1 billion after the latest round of investment.
Tiger Global Management led the round and return backers North Bridge Venture Partners, Greylock Partners, Advanced Technology Ventures, Andreessen Horowitz and Technology Crossover Ventures also participated.
Founded in 2009, the Boston-area provider of data virtualisation solutions has customers in 31 countries, with 44 per cent of total bookings outside the US.
The company said it will use the funds to accelerate expansion of market coverage, global brand development and product feature enhancements for its virtualised and Cloud IT data management products.
Actifio founder and CEO, Ash Ashutosh, said the company will use this global funding round to expand its copy data virtualisation across the Global 2000, extend the reach of its technology into the mid-market.
Ashutosh also said the funding would provide opportunities for Cloud service provider partners to build “thriving businesses powered by Activio.”
Ingram Micro is one partner hoping to take advantage of the new investment.
Senior business manager, enterprise software, Lee Welch, said working with Actifio allows Ingram Micro to sell products that go beyond traditional backup and put all the components together into one platform that will save its customers time and money.
“There is a lot of interest in Actifio solutions and the brand is getting around through marketing campaigns and also through word of mouth, especially in the technical community. You can feel that momentum growing in the market.”
I am constantly looking for new growth vendors to bring on board that fills a solution gap. Its been really good working with Actifio. They are really professional, they really get the channel. I think it comes from the leaders of the business, they art all veterans and have worked in growth technology areas over the years. They have their act together and know what it takes to build a channel, they have the right people on board locally to help with that,” Welch said.
Law firm Henry Davis York’s IT operations manager, Alex Clonaris, said the company has been able to reduce cost and time needed to access data since becoming a customer.
“This simple approach to data management has streamlined our operations and is now being applied to other use-areas, such as development and testing.” Actifio reported a 182 per cent year-over-year bookings growth in 2013. The company has more than 300 enterprise users globally with more than 25 Cloud service provider partners.