With 182 percent annual growth rate and over 1 exabyte of data under management, copy data virtualization company Actifio announced it has secured $100 million in a funding round led by Tiger Global Management, with participation from current investors North Bridge, Greylock IL, Advanced Technology Ventures, Andreessen Horowitz, and Technology Crossover Ventures.
The round places a $1.1 billion valuation on Actifio, which says the funds will help accelerate its market coverage, global brand development, and product feature enhancements.
“From the start we have focused on building the next great technology brand with a singular focus on delighting our customers with revolutionary technology, enterprise-class service, and transformative business results,” said Ash Ashutosh, Founder and CEO at Actifio. “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."
Transformational data management model
Boston based Actifio has grown tremendously since its launch in 2009, with more than 300 enterprise users worldwide and customers in 31 countries. Its patented Virtual Data Pipeline technology enables virtualized data management, decoupling application data from physical infrastructure. Last month IBM announced that its SmartCloud Data Virtualization uses Actifio’s Virtual Data Pipeline technology to provide a model for managing critical data, without the expense of managing excess copies.
“Over the last four years Actifio has transformed data from a liability to an asset in hundreds of major enterprises worldwide," said Jamie Goldstein of North Bridge, Actifio’s original investor and board member. "Helping customers monetize, analyze, and share their data rather than just store redundant copies of it is the biggest positive disruption in the data center & cloud since server virtualization. Ash and the team have both thought big and executed with focus and customer dedication since our investment at inception. This round is just a reflection of the value they’ve built and the huge opportunity ahead."
"Almost whatever you do, the data you produce doing it has huge value,” said Peter Levine, partner of Andreessen Horowitz. “Companies across every industry are struggling not only to protect that data, but to put it to work; to provide deeper insight, improve service, increase sales, and enhance profitability. Actifio’s copy data virtualization makes data available when and where you need it, just as server virtualization did for compute in the current generation of data centers. In the data center of the future, that’s going to be a very big deal.”