VC, deals, Data Protection

Datacastle Closes $5.3M Series A Financing, Gets New Leadership

Gregory T. Huang 11/19/08

It’s been a busy week for data-protection companies around here. Two days after Decho was formed out of Seattle-based Pi and Utah-based Mozy, information security firm Datacastle of Seattle has announced a $5.3 million Series A financing round. The investment was led by the Australian venture firm CM Capital Investments. No other investors were disclosed.

The new venture investment comes with a reshuffling of Datacastle’s leadership and management team. Alex Knight, formerly of Edge Labs and Arch Venture Partners, will become Datacastle’s chairman of the board. Gary Sumner, Datacastle’s founding CEO, will step aside to become chief technology officer. And Ronald Faith, formerly of the mobile services and commerce companies Clonefone and Qpass, joins the company as chief executive.

Datacastle was founded in 2005 and raised a seed-stage round in July 2007. Its data-protection software, which is aimed at personal computers in businesses, does online backup, encryption, and reduction of storage space needed for files.

Gregory T. Huang is the Editor of Xconomy Seattle. You can e-mail him at gthuang@xconomy.com or call 206-624-2249.