Sources inform ''Globes'' that disaster recovery solutions start-up Axxana Inc. has raised $4 million in its second financing round led by Gemini Israel Funds. The company launched its product last October.
Moshe Yanay, who sold XIV Storage and Diligent Technologies to IBM Corp. (NYSE: IBM) last year, also participated in the financing round. Axxana has raised $10 million to date, including the current round.
Axxana is one of the more interesting start-ups in Israel today. It was founded in 2005 by an experienced team, which includes CEO Eli Efrat, CTO Dr. Alex Winokur, and VP business development and sales Dan Hochberg. Efrat has already co-founded three start-ups.
Axxana has developed a solution that aims to be the first product in a new field -enterprise data recording (EDR), a sub-field of disaster recovery program (DRP), and which resembles the flight data recorder (black box) found in planes.
The company's solution, called Phoenix System, is a kind of black box that aims to deal with the real-time broadcasting of critical data by enterprises. This is a troublesome area for companies, and involves heavy expenses to deal with data that is not transmitted in the event of a disaster, such as fire, attack, or major power failure.
The financing round concludes a very good week for Axxana, which a few days before won the Gartner Group's Cool Vendor award in the disaster recovery category.
Published by Globes [online], Israel business news - www.globes-online.com - on April 1, 2009
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