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Wheelings & Dealings: Storage and Virtualization Start-up Actifio Receives $100 Million Funding Round

By Laura Stotler March 25, 2014

Storage and virtualization firm Actifio has brought in a $100 million funding round, bringing the start-up company’s total worth to $1 billion. The company, which offers a patented Virtual Data Pipeline (VDP) technology to help service providers and enterprises virtualize data management, achieved 182 percent year-over-year bookings growth in 2013.

Actifio’s solutions help users decouple their application data from physical infrastructure, creating efficiencies, cost savings and improved resiliency and intelligence, which is critical in today’s cloud computing world. The company will use the new funding, led by Tiger Global Management, to expand its market coverage. Actifio will also focus on global brand development and enhancement of product features for virtualized and cloud IT architectures.

"Data is the currency of the modern enterprise,” said Erez Ofer, an Actifio board member and partner at Greylock IL, which participated in the founding round. “Its value - and its volume - are now growing at a staggering pace. For consumers of storage, the reality is eerily similar to the server industry circa the early 2000s, when virtualization unlocked the potential of underutilized server infrastructure."

Actifio now has more than 300 enterprise users throughout the world and counts more than 25 cloud service providers as its partners. The company’s solutions are being used for IBM’s SmartCloud Data Virtualization (SCDV) offering as well as Sungard’s Recover2Cloud cloud disaster recovery services.

Virtualization is gaining momentum at a breakneck pace as the cloud computing market explodes. IDC predicts virtualization of servers and physical infrastructure could save U.S. companies $1.9 trillion in gross energy and fuel costs through 2020, not to mention 9.1 gigatons of carbon dioxide emissions. Actifio is banking on technology uptake by both managed and cloud services providers as well as enterprises to fuel their future growth.

The company touts its solution as a copy data storage platform that virtualizes data management, decoupling it from storage, network and server infrastructure. The solution is software defined and application centric as well as governed by SLAs. The result is that a single “gold copy” of data is created for instant access and recovery, ultimately improving service levels and eliminating the need for separate tools. Software is run on a purpose-built appliance that can leverage Actifio storage or any third-party FC-attached storage interoperable with Actifio.

"Actifio's simple, elegant solution addresses the copy data problem with a modern architecture, allowing users to virtualize copy data the way VMWare virtualized computing power, bringing efficiency to data storage in the era of modern cloud-based computing," said Bob Hower, Actifio Board Member and co-founder of G20 Ventures, which also participated in the funding round.

Edited by Cassandra Tucker

NFVZone Contributing Editor

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