CEO: Actifio funding round to help focus on customer growth
August 8, 2018
Actifio today completed its second $100 million funding round in four years, as it moves closer to a possible IPO and seeks profitability and growth.
The Actifio funding round increases the company’s valuation to $1.3 billion, up from $1 billion in 2014, when it last raised $100 million. Total Actifio funding is $307 million.
Actifio, based in Waltham, Mass., was a pioneer of copy data management. The vendor now calls its technology “data as a service,” aiming to provide quick access to customer data wherever it lives. Its Virtual Data Pipeline features data management and data protection capabilities, including analytics, business continuity, governance and security. It covers the cloud, virtual machines and physical platforms.
While Actifio has been eyed as a main contender for an IPO, CEO Ash Ashutosh said last year that his company had to choose an area of focus: being profitable or going public. The company chose the profitability route.