Data Management Startup Actifio Raises $100M At $1.1B Valuation
March 27, 2014
Actifio, a data visualization management company that is preparing for an IPO, announced today that it has raised $100 million led by Tiger Global Management, with participation from previous investors Greylock IL, Advanced Technology Ventures, Andreessen Horowitz, and Technology Crossover Ventures. This latest round brings Actifio’s total funding to about $207 million and puts its valuation at $1.1 billion.
Actifio says that it will use its new funding to expand globally and develop new features for its data management products. The startup announced a $50 million Series D in March 2013, at the same time a report said that it is considering an IPO in 2014. Actifio founder and CEO Ash Ashutosh told Re/code, however, that the public offering probably won’t happen until next year.
In its announcement, Actifio shared several operating metrics, including 182% year-over-year bookings growth in 2013; over 300 enterprise users worldwide; customers in 31 countries with 44% of bookings from outside the U.S.; and over 1 exabyte of data, 14 petabytes of active app data, and 55 petabytes of physical storage capacity under management.
Actifio’s data storage platform uses virtualization technology that allows businesses to create a single copy of production data and make changes to that master copy. This can help companies cut their storage costs by as much as 90%, says Actifio, and reduce recovery times.
“Having shone a light on the $46 billion global copy data problem, we will use this funding round to expand our copy data virtualization solution across the Global 2000; enable our cloud service provider partners to build thriving businesses powered by Actifio; and extend the reach of our technology down into an even broader base of the mid-market,” said Ashutosh in a statement.