$16 Million More for Exagrid

Wade Roush12/15/09

[Corrected 12/15/09, see below] Exagrid, a provider of disk-based backup storage equipment and deduplication software in Westborough, MA, has raised an additional $16 million in equity-based financing, according to regulatory documents filed December 14. This venture round, the company’s fifth, follows a $20 million Series C round in November 2007 and a $12 million Series D round in December 2008 and brings the company’s total venture pot to $93 million [not $103 million as this story previously stated--Eds.]. Exagrid’s previous investors include Highland Capital Partners, Sigma Partners, and Tenaya Capital (formerly Lehman Brothers Venture Partners). Jose Suarez of Investor Growth Capital, the venture arm of Swedish holding company Investor AB, is also on the company’s board.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.