Backupify Brings in $5M Series B
Cambridge, MA-based Backupify, a provider of technology for backing up data stored in e-mail and social media applications, is announcing it has nabbed a $5 million Series B financing, led by existing investor Avalon Ventures. Return investors General Catalyst Partners and Lowercase Capital also participated in the deal, which brings Backupify’s total funding pot to $10.4 million. Avalon managing director Brady Bohrmann joins Avalon general partner Rich Levandov on the Backupify board.
The money will go to product development for Backupify’s software that helps companies using Google Apps back up, search, and restore their data. CEO Rob May says that many of those clients have requested that the Backupify technology be applied to other office productivity tools that store things like financial data or customer related information.
Backupify started in 2008, providing a free consumer-facing backup service, but introduced the Google Apps service last year to focus on gaining small- and medium-sized businesses as customers. The company says it has signed on more than 5,000 Google Apps domains and grown that portion of its business by 4,000 percent since raising its Series A round of funding last September.
Backupify formerly operated out of the Kendall Square building that also houses Xconomy’s headquarters, but has since moved to space in Central Square formerly occupied by Performable, a marketing automation startup acquired by HubSpot in June. May says Backupify has gone from the eight or nine employees it had when it raised its Series A funding to about 21 now. He expects the head count will grow another 40 percent or 50 percent next year, with the new hires split among sales and marketing staff.