Topio, a provider of enterprise software for data replication and recovery, has secured an $8 million round of venture financing; led by Star Ventures with the participation of existing investors Sequoia Capital and Sigma Partners.
Topio said it would use the funds to expand its sales, marketing, and product development activities in North America and Europe.
“We spent 2004 building a rock-solid installed base with leading enterprises and business continuity providers in North America and Europe,” said Topio founder and CEO Yoram Novick. "In the first quarter of this year, we passed the 40-customer milestone across midrange and large enterprises. We are also seeing increasing momentum for Topio-based disaster recovery services, delivered through our Business Continuity Service Provider Partners, such as IBM Global Services and NDR.
" The additional round of funding we are announcing today will help us expand to meet this growing demand.”
“Topio’s customer track record, ability to execute and innovative solution made this a very exciting investment opportunity,” said Start Ventures partner Rami Kasterstein. “Topio eliminates the compromises and cost barriers associated with traditional data backup and replication, and therefore enables the entire market to take off in places that previously, would never have been considered viable."
Topio says that its Topio Data Protection Suite enables enterprises of all sizes to continuously copy and protect their data over any distance, across heterogeneous infrastructure, without the operational disruption incurred through traditional alternatives.
Published by Globes [online], Israel business news - www.globes.co.il - on April 26, 2005