Actifio Raises $8m in Series A Financing
Summary
Actifio, a Waltham, Mass.-based provider of a Data Management Virtualization (DMV) technology that delivers unified protection, disaster recovery and business continuity, has raised $8m in Series A financing., a Waltham, Mass.-based provider of a Data Management Virtualization (DMV) technology that delivers unified protection, disaster recovery and business continuity, has raised $8m in Series A The round was led by North Bridge Venture Partners and Greylock Partners.The capital infusion will be used to market the company’s patent-pending technology, which is expected to reduce the real cost of managing the application data lifecycle and virtualize vendor-independent physical or cloud-based storage devices into a private, public or hybrid storage cloud infrastructure.Commenting on the financing, Ash Ashutosh, founder, president and CEO at Actifio, said: “The strategic investment by North Bridge Venture Partners and Greylock Partners is a strong validation for the company, our pioneering data management virtualization solution, and our ability to execute and capitalize on a multi-billion dollar market opportunity.Actifio’s DMV technology brings to data lifecycle management the same paradigm shift that virtualization brought to the server environment with all the resulting simplicity and efficiency”, he added.
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