Carbonite Announces Closes $20M Mezzanine Financing Round

Carbonite, Inc., a Boston, MA-based provider of online backup, has closed a $20m mezzanine funding round, which brings the total amount of financing that the company has raised to date to approximately $67m.
The round was led by Crosslink Capital, with participation from all existing investors, including Menlo Ventures, Performance Equity, and Common Angels Fund.
In conjunction with the funding, Gary Hromadko, venture partner at Crosslink, will join the company’s board of directors.
The new capital will be used to enhance the company’s ability to accelerate its growth in the US, expand to new foreign markets, and introduce new products.
Carbonite launched its online backup service for PC owners in 2006. In the last year, the company expanded its offering to include a Macintosh solution and Remote File Access, which enables users to access backed up files from any web browser, and signed distribution agreements with Seagate and Sun Microsystems.

Join the discussion