RealTime IT News

Internet Startup Receives $9 Million Investment

@Backup announced today it closed a $9 million second round of equity financing, which includes investments from American Express.

Other companies investing in the online data backup service include Windward Ventures and Cendant Corporation. Original investors--Enterprise Partners, Alta Partners and Security Pacific--also contributed more funds during this second round of financing.

"We recognize the interactive channel as an ideal medium to deliver valuable products and services to our customers," said Larry Kutscher, vice president of Interactive Enterprise Development at American Express.

"We are delighted with the results from our operational and marketing tests of the @Backup service [which took place over the past year]. By investing in @Backup, we are now well positioned to leverage an important service that can help our small business customers protect their critical data."

@Backup targets its services to small companies and remote workers, providing fully automated data backup of a user's hard drive every night. Support for 56-bit encryption enables the secure transmission of private content.

The company is offering a 30-day trial of the service. PC users running Windows 95 and equipped with 8 MB of RAM can download a trial version of the product now.