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RainStorâ€™s New Approach for Retaining and Preserving Structured Data Attracts Investment from Storm Ventures and Informatica
SAN FRANCISCO, Calif. â€” March 10, 2010 â€“ RainStor, an infrastructure software company that provides the leading repository for historical structured data, today announced it has secured $7.5 million in Series B funding from Storm Ventures and enterprise data integration software vendor, Informatica. Existing investors Doughty Hanson Technology Ventures and The Dow Chemical Company also participated in the round. RainStor will use the funding to expand into new markets, grow its partner base, and invest in product development and R&D. As part of this announcement, Tim Danford, managing director at Storm Ventures, will join the companyâ€™s board of directors.
â€œThere is an enormous opportunity to address the needs of organizations that must keep massive and growing volumes of structured data accessible for regulatory or business purposes,â€ said Tim Danford. â€œRainStorâ€™s disruptive technology allows inactive data to be stored, managed and analyzed at a fraction of the cost of traditional databases and data warehouses. Weâ€™re excited to be funding a company that we believe will change the way companies manage their information assets and add a new dimension to the data management market.â€
RainStor recently announced its entrance into the U.S. data management market with an online data retention solution that reduces the cost and complexity of preserving information in the enterprise and the cloud, RainStor 3.5. The technology lets companies manage more inactive structured data with less hardware, storage and resources.
â€œWe initially invested in RainStor because we believed there was a gap in the market for technology that simplified and reduced the cost of retaining structured data,â€ added George Powlick, managing director at Doughty Hanson Technology Ventures. â€œRainStorâ€™s success and the markets acceptance of the need for specialized data repositories have validated this view.â€
â€œWith our proven technology, established partners, and now more than 50 customers, RainStor has already demonstrated impressive traction in the market,â€ said John Bantleman, CEO of RainStor. â€œWe believe with our experienced team and this injection of capital, RainStor is well positioned to become the standard technology for retaining and preserving structured data in the enterprise and the cloud.â€
For more information on RainStor or to speak with a company executive, please visit: http://www.rainstor.com.
RainStor is a privately held company with offices in San Francisco, USA and Gloucester, UK. For more information, visit http://www.rainstor.com.
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