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Solidifies Company as Leading Google Apps Backup Provider while Accelerating Expansion of Service to New Cloud Applications
CAMBRIDGE, MA, Sept. 08, 2011 –/BackupReview.info/–Backupify (http://www.backupify.com), the leading provider of data protection and management services for cloud-based applications, today announced that it has secured $5 Million in Series B funding led by Avalon Ventures, with additional participation from General Catalyst and Lowercase Capital. In combination with Series A and seed funding, the company has now raised $10.4 million. Backupify will apply this new capital to accelerate further development of itâ€™s industry leading and first to market backup solution for the full Google Apps suite, while expanding product functionality and launching new services for other cloud management solutions and tools.
Backupify provides peace of mind to IT departments moving to the cloud by helping companies bring existing data protection best practices to their SaaS implementations. As companies establish these practices to mirror the on-premise environment, Backupify has maintained a significant presence in the Google Apps ecosystem as a provider of the most sophisticated and comprehensive backup, search and restore services. To date, the company has signed up over 5,000 Google Apps domains. This is a growth of over 4,000% since the close of Backupifyâ€™s Series A funding in September 2010. The companyâ€™s customer base now includes over 175,000 total usersâ€” protecting over 200 terabytes of data from Google Apps and other social media and SaaS-based services.
â€œSince our initial investment in Backupify, I continue to be impressed with the companyâ€™s execution and traction in the market. Backupify gives companies the ability to restore data in minutes and get back to business, which is a strong value proposition to an IT department that wants to protect important company data and maintain some control even as they move to the cloud,â€ said Rich Levandov, Managing Director of Avalon Ventures. â€œWe are very excited about the companyâ€™s vision and potential. Companies moving to the cloud require tools and services to protect and manage their data, and Backupify has the foresight and talent to be a market leader in this space.â€
Brady Bohrmann, Managing Director of Avalon Ventures, will join Levandov on Backupifyâ€™s Board of Directors.
â€œIT departments tell us regularly that they are reluctant to commit to the cloud until they can be reassured that they have the same control and protection of their data that they have with on-premise solutions. Backupify gives control of the data back to the IT department. Likewise, SaaS providers continue to be receptive to our value proposition as they come to understand that we can help accelerate the overall adoption of SaaS applications,â€ said CEO and Co-Founder, Rob May. â€œThe continued support from our investors validates our strategic vision and positions our company to continue expanding our pipeline of innovations to generate strong momentum in 2011 and beyond.â€
Previously, Backupify had secured $4.5 Million in Series A funding, co-led by Avalon Ventures and General Catalyst, with additional participation from Lowercase Capital and First Round Capital. Prior to that, Backupify had raised a Seed Round of $900,000 led by First Round Capital, with participation from General Catalyst, Betaworks and individual investors Chris Sacca, Jason Calacanis, Andy Swan and Bob Saunders. The company also received angel funding from Dharmesh Shah, CTO of Hubspot; Sean O’Leary and Sterling Lapinski, co-Founders of Genscape; and Vik Chadha, co-Founder of Glowtouch.
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