Print
Email
Print Edition Stories
MHT's Galen Moore: Cambridge Innovation Center celebrates 10th anniversary
Online video firms target small video publishing companies
MHT's Galen Moore: New 'hyperlocal' web trend
Online data backup and disaster recovery firm VaultLogix LLC has taken in a new round of funding, an unspecified amount, from Boston-based private equity firm WestView Capital Partners, along with previous VaultLogix backer London Bay Capital and company management.
Rick Williams, a managing partner at WestView, and partner Matt Carroll have been added to the board of Danvers-based VaultLogix, in conjunction with the funding.
The most recent previous funding for VaultLogix happened in March of 2007, when the company brought in $600,000 from New Jersey-based angel investor Mark Munro, and other unnamed backers.
According to VaultLogix, which was founded in 2003, the company has grown to now handle more than 3,600 customers in the small to midsize business market, reaching across a wide range of industry verticals. Officials have said the company has been profitable since 2005.
The company was founded by CEO Tim Hannibal and CTO Charles Hausmann. Hannibal, former vice president of sales for BiznessOnline.com Inc., said he got the idea for a data backup product in 2002 as a way to generate revenue from BiznessOnline data centers during downtime.
Backing VaultLogix represents the first funding out of WestView’s new $325 million growth equity fund, which closed in November, officials said.
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
