Funding Roundup: Data Storage Startup Actifio Raises $100 Million
March 31, 2014
This week, copy-data virtualization startup Actifio announced it had raised a $100 million Series E led by Tiger Global Management, with participation from North Bridge, Greylock, Advanced Technology Ventures, Technology Crossover Ventures and Andreessen Horowitz. This round brings Actifio’s total funding to $217 million.
Actifio CEO Ash Ashutosh, who founded the company in 2009, says Actifio helps enterprises better manage the large amount of data copies they maintain. He says Actifio helps customers spend less on storage and more quickly access the data they need.
Currently, Actifio has 280 employees: 130 in the U.S., with the rest split between the 31 countries Actifio’s customers call home.
Ashutosh says the funding will be used to double down on sales and marketing efforts, to help enterprise customers better understand issues related to data copies. Ashutosh will also be investing heavily in his “customer success engineering” team, which helps ensure customer satisfaction with Actifio’s service.
Ashutosh says there are no plans on the horizon to take Actifio public.
“We have the opportunity to go public, but we’ll decide from a timing perspective based on two factors: One, if our goals are affected because customers won’t do business with us if we’re not public,” says Ashutosh. “And second would be if we see competition nipping at our heels. Right now, there’s nothing – no competition.”