Print
Email
Print Edition StoriesWednesday, November 25, 2009
Autovirt gets $5M from return investors Sigma, Kepha
By Mass High Tech Staff
MHT's Galen Moore: Charity reseller takes sting out of overpriced tickets
MHT's Rodney Brown: App developers see opportunity in new iPhone
MHT's Galen Moore: New 'hyperlocal' web trend
Data migration and management company Autovirt Inc. has raised $5 million in a venture capital funding featuring return investors Kepha Partners and Sigma Partners, according to company officials.
Autovirt CEO Josh Klein described the funding as an extension of an A round, and that Kepha and Sigma were the only participants. The $5 million funding brings to $13.5 million in investment in the company, starting with a $500,000 seed round when the company was founded by CTO Klavs Landberg. The next $8 million came in two tranches in mid 2007 and in November 2008.
Klein said the funds “will be used to beef up sales and marketing because that is where we are seeing some success.” Klein said the first version of its key product, Autovirt, was released in the middle of this year, and that the full version, called Autovirt 3.0, came out in September.
The Nashua, N.H., company , founded in 2007, offers Microsoft Corp. Windows-based data migration and management software designed to help IT organizations optimize storage resources for unstructured data based on the department’s policies on automating data measurement, copying, migration, replication, and archiving.
Klein reported that Autovirt has about 800 customers today, with a “handful” of those using Autovirt 3.0.
Kepha founder Jo Tango and Sigma managing director Robert Davoli hold seats on Autovirt’s boart, along with Bill Andrews, president and CEO of Exagrid.
In September, Autovirt donated its AutoClone Software, a Windows file data replication product, to Harvard University’s IS department.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
