Axcient Scores $6 Million in First Funding Round

Axcient Scores $6 Million in First Funding Round

MOUNTAIN VIEW, Calif. - March 24, 2009 - Axcient Inc., an innovator of comprehensive data protection software-as-a-service (SaaS) solutions for small and medium-sized businesses (SMBs), today announced it has secured $6 million in Series A funding from investors Allegis Capital and Peninsula Ventures. The funding will be used to further enhance Axcient's platform, grow operations, expand sales and marketing initiatives, and better serve Axcient's expanding customer base.

"Axcient's technology has the potential to seriously disrupt the SMB data backup and recovery market. In today's economy, outsourced IT professionals need to increase their revenue per customer while reducing investments in infrastructure. Axcient offers one of the most compelling ways to do that. We are very impressed with Axcient's technology solution and the team behind it, and that's why we invested in the company," said Pete Bodine, managing director, Allegis Capital.

"The Axcient team brings great insight and expertise to resolving the data protection and business continuity challenges that SMBs are faced with today," said Greg Robinson, managing director, Peninsula Ventures. "We believe the Axcient solution is important because of its ability to help customers increase productivity and uptime, mitigate the risk of losing critical data, and eliminate capital expenditures. We look forward to working with Justin and his team in creating a successful partnership."

Axcient's executive bench includes CEO Justin Moore, CTO Dave Garnett, Vice President of Sales Victor Neeley, and Vice President of Engineering Bill Culman. Neeley joined Axcient from Seagate Services (formerly known as EVault), where he served as vice president of sales; he brings more than 20 years of SMB sales management experience to Axcient. Culman held senior engineering positions developing both software and hardware products at Interwoven, Cast Iron, Tandem Computers, BEA Systems, and Vitria Technology.

"Trying macroeconomic times demand service models that free the customer from large upfront investments," said Justin Moore, CEO, Axcient. "We've been in development for the past two years to produce a data protection and business continuity platform that is built from the ground up to meet the unique business needs of the SMB market and the IT solution providers who serve them. We're proud to have the confidence of top-tier investors in the company and are excited about executing on our vision."

The Series A funding coincides with the availability of Axcient's hybrid on-premise and cloud data protection and business continuity service. Axcient's data backup and recovery service was created specifically for SMBs that are managing anywhere from 1 to 500 workstations, laptops or servers and 10 gigabytes to 10 terabytes of data. The company is targeting customers across industries including legal, financial services, healthcare, design and creative industries, retail, credit card services, Web-based companies, and education.

POST COMMENT

THINGS and THOUGHTS Is Your Group Looking For A Successful Fundraiser? Hollywood And Teamwork Find Out What Is Airsoft And What Are Airsoft Guns Warning: BumGear Underwear and Swimwear May Lead to Severe Levels of....Sex Appeal! Nikola Tesla, Free Illustrations. A bit In regards to the Famed Inventor, and his Revolutionary Inventions How To Use Oil Lamps Most Efficiently And Safely In Modern Times Property To Rent And What To Consider How To Make Oil Lamps To Compliment Any Décor | Turn Up The Ambiance In Any Room And Provide a Soft, Elegant Source Of Light How People Search And Different Types Of Queries What Is Diphtheria And How Can It Be Prevented More People Should Know What A Ground Source Heat Pump Is And How Does It Work Tool Making In Early Asia And Tool Making With Fire