Actifio Secures $100 Million From Tiger Global.
Data-management company Actifio has said that they have recently managed to secure $100 million in funding which was led by Tiger Global, raising their fundings to levels that would usually only be reserved for more consumer-oriented companies.
The Boston-based company Actifio has now managed to secure over more than $200 million, with the recent latest round, bringing the company’s value up to $1.1 billion.
While quite a few consumer companies carry valuation topping $1 billion, very few enterprise companies do. These would include cloud-storage service Box, mobile device management company Good Technology, and storage-infrastructure company Nutanix.
Actifio works by creating copies of a company’s data in a form that works along with various application, while avoiding the expense and inefficiency of storing multiple copies. This also speeds up accessing the data, said Ash Ashutosh the chief executive of Actifio.
With Tiger tagging along and adding its experience in late-stage companies into the fold will help Actifio improve further, Ashutosh said. and prepare them for a initial public offerings when the time comes, although he did not offer a timetable for the IPO. At the moment, the company will be working on helping customers and improving itself, instead of an IPO.
“The day we find not being a public company is hindering either of those goals, we’ll start considering the process,” Ashutosh said.
For the investors behind Actifio, backing the company’s amount is a sure bet for an ongoing increase of data.
“We thought the growth of data was going to be a problem and a hindrance,” said Peter Levine, a partner at Andreessen Horowitz, which started backing Actifio in 2011. “These guys solved that problem.”
Andressen and other existing investors such a Greylock, Technology Crossover Ventures, Advanced Technology Venture, North Bridge also joined the round. Tiger Global has also invested in quite a large number of late-stage ventured back companies in the past years, which have included, SurveyMoneky, Eventbrite, and ODeck.