Data Virtualization Company Actifio Raises $50 Million
Actifio is a virtualization data company that has raised $50 million in Series D funding led by Technology Crossover Ventures. Other existing investors that participated in this round include Andreessen Horowitz, ATV Capital, Greylock Partners Israel and North Bridge Venture Partners.
Actifio has raised a total of $107.5 million. Actifio is valued at around $500 million and considering an initial public offering. Actifio uses virtualization technology to store and manage data so that businesses can create a single copy of production data. They also maintain changes of the master copy. The data can be recovered at any time.
Actifio helps companies drop their storage costs and reduce their recovery times. ”We’ve all witnessed Actifio scale worldwide at record pace,” stated Andreessen Horowitz partner Peter Levine. ”Their formula is simple: great execution plus a huge market opportunity with a product that delivers on its promise of radical simplicity.”