Axcient, a Mountain View, CA-based provider of comprehensive data backup, business continuity, and disaster recovery services to the Small and Mid-Sized Business market, has raised $15.5m in Series C funding.
The round was led by Scale Venture Partners with participation from existing investors Allegis Capital, Peninsula Ventures, and Thomvest Ventures.
This brings the total amount raised by the company to date to $33.5m.
Axcient intends to use the new funding to expand sales and marketing efforts in North America and Europe. The company currently employs more than 80 people and expects to double its team over the next 18 months.
Led by founder and CEO Justin Moore, Axcient delivers a unified platform for backup, business continuity, and disaster recovery to SMBs, including those in heavily regulated industries such as healthcare, legal, and financial services. Over the past year, the company also added platform enhancements, including integrations with leading remote monitoring and management (RMM) platforms and professional service automation (PSA) tools.
In connection with the funding, Rory O’Driscoll, managing director, Scale Venture Partners, has joined Axcient’s board.
FinSMEs
03/10/2011