Actifio joins the billion-dollar valuation club

Posted Mar 24, 2014

Actifio is a data virtualization management company that is preparing to go public. The company has raised $100 million in funding led by Tiger Global Management with participation from previous investors Greylock IL, Advanced Technology Ventures, Andreessen Horowitz, and Technology Crossover Ventures. Actifio has now raised a total of around $207 million with a valuation of around $1.1 billion.

The new round of funding will be used to expand globally and to develop new features for its data management products. Actifio raised $50 million in Series D in March 2013 and said it was considering an initial public offering in 2014 around that time. However, the IPO likely will not happen until next year.

?Having shone a light on the $46 billion global copy data problem, we will use this funding round to expand our copy data virtualization solution across the Global 2000; enable our cloud service provider partners to build thriving businesses powered by Actifio; and extend the reach of our technology down into an even broader base of the mid-market,? said Ashutosh in a statement.

[Source: TechCrunch]