Actifio Raises $100M, Valued at $1B

Posted on March 24, 2014 By Pedro Hernandez

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Taking a stance against copy data has paid off for Actifio in the form of a new round of venture capital financing.

The Waltham, Mass.-based storage startup has raised $100 million after notching several customer wins, bringing the firm's valuation to $1 billion, announced CEO and founder Ash Ashutosh today. "Thanks to our customers and partners, Actifio is now a billion dollar company with customers in over 30 countries around the world," he said in a blog post.

The company boasts a client roster of over 300 enterprise customers, including Euronet, NaviSite and Boston University Medical Center. Its technology is now in use in a variety of IT environments (VMWare, SQL, Oracle, SAP, Exchange...) and across several platforms (VMWare, Windows, Linux, AIX, HP-UX...), according to the company.

"We grew by 182 percent last year, and now act as the trusted custodian of over 1 Exabyte of application data," added Ashutosh. Tiger Global Management led the funding round, which was backed by existing investors, including North Bridge, Greylock IL, Advanced Technology Ventures, Andreessen Horowitz and Technology Crossover Ventures.

In a statement, Ashutosh said his company will use the cash infusion "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." Currently, Actifio leans toward big enterprise implementations of its tech.

Last year, the company and IBM inked a partnership to bring Actifio's capacity-sipping Virtual Data Pipeline technology to clouds with a product called IBM SmartCloud DataVirtualization (SCDV). The appliance and software offering maintains a "gold copy" of application data and makes the data available to multiple applications. The companies also teamed in 2012 to help cloud providers rein in storage costs and reduce storage management overhead by leveraging Actifio's Protection and Availability Storage (PAS) platform.

Actifio's technology targets copy data to curb runaway storage growth in enterprise IT environments. Copy data, as the company describes, is multiple copies of data that occupy precious networked storage resources, adding complexity and imposing a storage management tax without adding value.

The firm's software and appliance offerings "virtualize" backup and production data, leading to savings of up to 90 percent, according to Actifio. Now, Ashutosh is signaling that his company is charting an ambitious new course by helping businesses optimize their current storage environments.

The company is forming an "elite squad of our best engineers," headed by co-founder David Chang. The group is called the Actifio Customer Success Engineering (CSE) team. CSE's aim is to "ensure the delivery of business results to our customers by tackling the complex touch points between our technology and legacy systems," stated Ashutosh.

Pedro Hernandez is a contributing editor at InfoStor. Follow him on Twitter @ecoINSITE.

Photo courtesy of Shutterstock.


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