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Actifio snags $50 million to promote copy data management

March 7, 2013

Actifio, which says it helps companies simplify and streamline operations by consolidating multiple copies of content that proliferate across applications, now has $50 million in Series D funding led by Technology Crossover Ventures (TCV) to push that vision. That brings its total venture backing to more than $105 million.

Waltham, Mass.-based Actifio wants companies to adopt its copy data store technology to reduce extra copies of the data they generate and collect to, ideally, a single “golden” copy.

Existing investors Andreessen Horowitz, ATV, Greylock Israel, and North Bridge Partners also participated in this D round, which comes more than a year after a $33.5 million C round. Prior to that Actifio received $8 million in a July 2010 Series A round and $16 million just two months later in a Series B round.

CEO Ash Ashotush told me a few months ago that companies spend too much making and managing lots of copies of data. “If we employ virtualization technology, one copy of that data can be reused and reconstituted for any use—sharing and analysis,” he said.

At an Actifio users conference a few months ago, Keith Bucknall, lead technical architect  for the U.K.’s Equity Insurance Group, said Actifio is a key part of his company’s unified storage and backup platform that makes it easier to perform backup, data protection and recovery, as well as data migration and management.

TCV general partner, Rick Kimball, joins Actifio’s board which already includes Andreessen Horowitz’s Peter Levine, North Bridge Venture Partners’ Jamie Goldstein, ATV’s Bob Hower, Greylock Partners’ Erez Ofer, and Netezza founding CEO Jit Saxena.

Original Article >