Waltham-based data storage startup Actifio said today it has closed a $50 million investment round led by Technology Crossover Ventures, with participation from existing investors Andreessen Horowitz, ATV, Greylock Israel and North Bridge Venture Partners.
Rick Kimball, a co-founder of TCV, has joined Actifio’s board of directors.
The company said its copy data storage platform reduces recovery times to seconds or minutes rather than several hours for up to 90 percent less cost as technology from competitors.
“As we attack the storage explosion and virtualize legacy IT silos with our Copy Data Storage platform, we’re maniacally focused on one simple thing — making our users happy and successful,” said Actifio CEO Ash Ashutosh. “We’re absolutely humbled by the vote of confidence from our investment partners and honored to welcome TCV to the Actifio family.”