Axcient, a Mountain View, Calif.-based provider of a cloud recovery cloud platform, raised $25m in funding.
The round was led by Industry Ventures, with participation from existing investors Allegis Capital, Peninsula Ventures, Scale Venture Partners and Thomvest Ventures. In addition, Silver Lake Partners provided a significant debt financing facility.
The company intends to use the funds to expand its sales and marketing efforts, to finance its reseller compensation program, SaaS:FLO, to nearly double its R&D team to continue to innovate on its platform.
Led by Justin Moore, CEO, Axcient provides a Business Recovery Cloud, which allows companies to replace legacy backup, server replication, disaster recovery and archiving products, with a single integrated platform that mirrors an entire business in the cloud. Its Simple Recovery Cloud enables users to restore data, failover applications, and virtualize servers or their entire office.
In 2014, the company acquired DirectRestore, a granular recovery technology provider, which was integrated into its core technology.
It also has an office in Austin, Texas.