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.
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.
“Protecting business data should not have to be this hard, complex and expensive. 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.
In addition to Mr Ashutosh, the executive team of the company includes David Chang, vice president of products, Steven Blumenau, vice president of marketing, Rick Nagengast, vice president of sales, and James Pownell, customer operations manager.