How much do you think a start-up that ventures into a non-glamorous sector like data storage, can raise in financing? A hundred-thousand dollars? Ten-hundred thousands dollars? Wait till you hear just how much Actifio managed to raised – a whooping $100 million! Yes, the company, which is a fairly recent technological start-up has garnered investor attention in enormous amounts. Such tremendous financing was previously the genre of customer -focused technological start-ups like social media companies on web-based game developers.
What is Actifio?
Actifio was founded by Ash Ashutosh in 2009. While people outside the tech-circles may not have heard of it, the company has been making news inside the technological circle. Today, the company boasts of a large number of corporate customers and, inclusion into the elite club of start-ups with a 10-digit valuation.
The company raised $100 million from interested investors as new financing, taking the company’s valuation up to the prestigious 1 billion mark. Ashutosh has over 25 years of experience in the data-storage field and formerly, served as a partner at Greylock IL.
What is all the buzz about Actifio?
Several companies struggle with redundant copies of data that clog the IT framework, make files difficult or more time-consuming to find and consequently, slow up the pace of business. Actifio helps companies deal with unnecessary copies of data by simplifying and streamlining their IT networks and infrastructure.
The pre-IPO firm, helps companies shed their older methods of data storage and handling, by providing them with easier to use and cheaper IT infrastructure. The Boston-based firm’s proprietary software can be purchased by companies under a three-year contract for around $349,000.
Actifio defeats older, inefficient systems using virtualization
In older systems, software applications are dependent on one specific network server for their functions. What this essentially means is that older IT infrastructures need to create copies of data created by applications. This creation, movement and storage of data copies is done for a wide range of IT tasks – compliance, analytics or disaster recovery to name a few.
This is where Actifio comes in. The company provides a software that decouples all apps and the data created by them to create a single, reusable copy of data, using virtualization. This digital copy is the sole backup that businesses can use from any location, independent of the server.
The software thus helps free up space, facilitate data mobility and improve the speed as well as efficiency with which businesses store and use stored-data.