Storage software co Diligent raises $22m

Accel Partners and Matrix Partners jointly led the round, with the participation of Gemini Israel Funds.

Diligent Technologies, an enterprise data protection software provider for mainframe and open system environments, has completed a $22 million follow-on financing round. The round was oversubscribed. Gemini Israel Funds participated in the round.

Accel Partners of California and London and Matrix Partners of Massachusetts and California jointly led the round. Diligent has raised $37 million to date.

Diligent also announced the appointment of new directors: Accel Partners principal Fearghal O'Riordain, Gemini general partner Adi Pundak Mintz, Matrix Partners general partner David Skok and Moshe Yanai, one of Diligent's original investors. The appointments are intended to deepen the collective experience of company's board of directors.

Published by Globes [online] - - on October 4, 2004

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