Announces plans for continued growth and three new board members

NORWALK, CT – November 17, 2015 — / — Datto, an innovative provider of comprehensive data backup, recovery and business continuity solutions, today announced it has raised $75 million in a Series B investment round led by Technology Crossover Ventures (TCV), a leading provider of capital to growth-stage private and public companies in the technology industry. The company will use the proceeds from the investment round to continue to invest in its global expansion and to accelerate product innovation to support its thousands of partners worldwide. The Series B brings total investments in Datto to just over $100 million.

“Today is a great day for our managed service provider partners and customers,” said Datto founder and CEO Austin McChord. “Datto is proud to be adding TCV as an investment partner. TCV brings a wealth of experience and expertise to help us continue to grow, innovate and expand globally.”

“Since we are cash flow positive, Datto isn’t raising capital to fund operations, but instead, to enter new markets and build new products and technology,” McChord continued. “With this new investment, Datto is excited to be pushing ahead to build new technology and improve the experience for our MSPs and end users around the world.”

The financing comes as Datto is achieving record year-over-year revenue growth, rapidly expanding into EMEA and APAC, and launching additional solutions for its extensive partner network and customer base. Datto manages more than 160 petabytes of data and more than one million backups a week for its customers. Datto’s Total Data Protection Platform protects customers’ business data no matter where it lives – on premises, in virtual or physical servers, or in cloud-based SaaS applications.

“From our first meeting with Datto, we were impressed with the company’s innovation and leadership team, and we knew we wanted to play a role in moving this company forward,” said Ted Coons, general partner at TCV and new Datto board member. “Cloud-based data protection holds great promise in ensuring information is always accessible and recoverable as more organizations conduct business in the cloud, and Datto has a tremendous opportunity to grow internationally in meeting this need.”

In addition to Coons joining Datto’s board of directors, Datto also added two board additional members: Patrick Gray, a board director of Civitas Solutions, Inc.; and Ursula Burns, Chairman and CEO of Xerox Corporation. They are joining a board that includes McChord; non-executive Chairman Paul Sagan, the former CEO of Akamai Technologies; and Steve Herrod, former CTO of VMware and currently a Managing Director of General Catalyst Partners, which led Datto’s Series A financing.

Coons has nearly two decades of experience investing in multiple technology sectors, with a deep focus on IT infrastructure. Gray has served on the board of Sancilio Pharmaceuticals since February 2012, and on the board of Civitas since September 2014, after nearly four decades with PricewaterhouseCoopers. Burns has served as Xerox’s CEO since 2009, following her success in other prominent leadership positions for the company. Burns is also a member of the board of directors of American Express Company and Exxon Mobil Corporation.

About Technology Crossover Ventures
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 20 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, Rent the Runway, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, please visit

About Datto:
Datto is an innovative provider of comprehensive backup, recovery and business continuity solutions used by thousands of managed service providers worldwide. Datto’s 160+ PB private cloud and family of software and hardware devices provide Total Data Protection everywhere business data lives. Whether your data is on-prem in a physical or virtual server, or in the cloud via SaaS applications, only Datto offers end-to-end recoverability and single-vendor accountability. Founded in 2007 by Austin McChord, Datto is privately held and profitable. In 2013, General Catalyst Partners invested $25M in growth capital, and in 2015 McChord was named to the Forbes 30 under 30.

Media Contact:
Sheila Lahar

Source: Datto



General Tags: compare online backups, online backup, SaaS, online backup reviews, software as a service, online data backup, online backup news, online file storage, data security, data storage, online backup services, CEO interviews, cloud computing, online file backup, backing up online, top rated online backups, online backup providers directory, online backup companies

Like us on Facebook

Do you like this post? Subscribe to our RSS feed ===========================


Related posts:

  1. Backupify, Social Media Online Data Backup Specialist, Closes $5 Million Series B Round Led by Avalon Ventures
  2. ownCloud Closes $6.3 Million Series A Funding Round
  3. Trilio Announces $5 Million Series A Funding Round Led by .406 Ventures
  4. Hybrid Cloud Migration and Management Leader CliQr Closes $20 Million Series C Funding Round to Fuel Global Expansion
  5. CTERA Networks Closes $25 Million Series C Round To Usher in the Platform Era for Enterprise Cloud Storage
  6. Datto Raises $25 Million in Growth Equity Round Led by General Catalyst Partners
  7. Druva Closes $25 Million in Series D Funding for Post-PC Data Governance Technology
  8. Nirvanix Raises Over $25M Series C Round Led by Khosla Ventures
  9. SpiderOak Upgrades Zero Knowledge Backup Solution and Closes Series A Round of $3.5M
  10. Panzura Closes $32 Million Growth Capital Round