DataGravity Grabs $50M More to Combine Storage and Computing
Let’s hear it for Series C funding rounds in tech. In a tough year for mid-stage startup financing deals, at least one Boston-area company isn’t feeling a crunch.
Its market sector has a lot to do with that. Nashua, NH-based enterprise IT startup DataGravity has raised a $50 million C round, led by new investor Accel Partners. Previous investors including Andreessen Horowitz, CRV, and General Catalyst also participated in the round. The company has now raised $92 million to date.
DataGravity was started in 2012 and is led by CEO Paula Long, a veteran of EqualLogic (which was bought by Dell in 2007). The company is at the forefront of a movement in IT to combine data storage and computing resources to create “smart storage.”
DataGravity, along with many other companies, sees a big opportunity to give businesses insights into their corporate data in ways that aren’t easy to do with older, more traditional storage systems from the likes of IBM and EMC. This was one trend highlighted by a recent Xconomy panel on the future of data storage, analytics, and networking.