Back-up software provider Revivio has landed $25 million in funding on the
strength
of its continuous data protection appliance for enterprises.
The latest investment comes as enterprises become more focused on protecting valuable corporate
data.
Nomura International plc led the round but was joined by existing
investors
Bessemer Venture Partners, Charles River Ventures, Flagship Ventures,
Globespan Capital Partners, and Eastward Capital Partners, as well as a
new
investor, Lighthouse Capital Partners.
The third round funding brings the young Lexington, Mass., vendor’s
funding
total to $55 million in the last three years, indicating a sharp
increase in
interest from investors who believe in the company’s products.
“We watch global technology markets very carefully as both investors
and IT
buyers and we have identified continuous data protection as one of the
most
exciting growth categories,” said Andrew Healey, head of Technology
Private
Equity Group, Nomura International plc, in a statement. “We believe
Revivio
will continue to dominate and lead this space with its unique and
innovative
technology.”
The money will be used for go-to-market initiatives and further
technology
development, said Kirby Wadsworth, senior vice president of marketing
and
business development. The executive said part of the success could be
attributed to the company’s release last fall of a fault-tolerant
appliance,
the Continuous Protection System (CPS) 1200.
CPS 1200 provides back-up, restore, and snapshots, allowing customers
to
make a “frozen” copy of their data. The CPS 1200, Wadsworth said, is a
“set
and forget” product where customers can plug in the appliance, turn it
on
and protect their data.
In the event of a failure, a few mouse clicks will render a fresh copy
of a
company’s data instantly via a new set of virtual disks. Moreover the
data
on them begins at the exact, “frozen” point in time customers choose to
go
back to. The idea behind this is that customers get to keep their
businesses
online.
Enterprise Strategy Group analyst Pete Gerr said Revivio has come to
market
with a very compelling data protection solution and value proposition
at a
time when enterprises are more focused on protecting valuable corporate
data.
He said new wrinkles like regulatory compliance and the increased fear
of
data loss or corruption from viruses and disasters, are forcing users
to
improve their ability to recover data more quickly with assurance and
accuracy.
“If [Revivio] can continue to execute, and continue to expose
enterprise-class users to the benefits that the CDP 12000 delivers such
as
vastly decreasing the time it take to recover data while simplifying
the
process of protecting data over traditional tape-based solutions, 2005
could
be a break-out year both for the CDP segment and for Revivio in
particular,”
Gerr said.
One of the advantages Revivio has, Wadsworth said, is that currently no
other vendor currently offers a CDP appliance for enterprises. Those
include
fellow start-ups like XOSoft and larger, more established players like
StorageTek.
CPS 1200 is the core of Revivio’s offering and the company will add new
features and capabilities to the product over the course of 2005.
Revivio
customers include Jeffries & Co., Forbes.com and the University of New
Mexico.
