Axcient adds $2 million to Series A round

Data protection company gets funding from Thomvest Ventures, Allegis Capital and Peninsula Ventures

Financial trends and news by Chris Caceres
May 20, 2009
Short URL: http://vator.tv/n/87c

 Axcient Inc., a data protection service for small and medium sized businesses, has secured an additional $2 million for a total of $8 million in Series A funding, reports peHUB.  Thomvest Ventures jumps on as the newest backer and is joined by previous investors Allegis Capital and Peninsula Ventures.

Based out of San Jose, Ca.,  Axcient offers what it calls a, ‘comprehensive data protection service...which keeps data safer.'  It's architected as a part SaaS solution, part onsite solution.  Small and medium sized businesses must install an Axcient appliance, basically a RAID hard drive depending on the capacity you order, that stays in the workplace and backs up information, while at the same time backs up data to an offsite data-center.  If your system goes down, Axcient says it can restore lost data in minutes unlike other solutions which can take up to weeks or months.

Some of the industries Axcient says it covers include legal, financial, healthcare, design & creative, retail, credit card, web 2.0 and education.

Founded in 2006, the company is headed by CEO Justin Moore, who built MK Global which secured the rights to over $1 billion in telecommunications equipment after the dot-com collapse.  Axcient says the funding will be used enhance its technology platform, grow operations and increase sales/marketing initiatives.