Revivio Revs Up VCs
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, 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 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 Nomura's Technology Private Equity Group, 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 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.
In other venture funding news, data protection performance management software firm Bocada announced a $9.5 million funding round.
Article courtesy of Internet News