deals, VC, Software

Datacastle Raises $3M More to Provide Data Backup and Security

Gregory T. Huang 11/24/09

Seattle-based Datacastle, the data backup and recovery software firm, has closed a $3 million funding round, according to CEO and president Ron Faith. The round was led by existing investor CM Capital Investments, a leading venture firm in Australia. The funding was disclosed in a regulatory filing.

“We plan to use the funds for sales and marketing activities to fuel our continued growth,” Faith said in an e-mail message.

Datacastle’s software helps companies and other organizations cheaply and efficiently protect their data on personal computers against damage, loss, and theft. It also does data encryption, and reduces the storage space needed for files.

Faith calls himself a “member in good standing in the ‘Qpass mafia.’” (He previously held senior leadership positions in sales, business development, and product management during more than eight years at the Seattle mobile commerce firm.) He joined Datacastle as CEO last year, succeeding founder Gary Sumner, who is the company’s chief technology officer.

Datacastle was founded in 2005 and most recently raised a $5.3 million Series A round led by CM Capital, about a year ago. Before that, the company raised seed-stage funding in 2007.

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