Actifio, a Waltham-based data storage company, said Wednesday that it has closed a $50 million investment round led by Technology Crossover Ventures, with participation from existing investors Andreessen Horowitz, ATV, Greylock Israel, and North Bridge Venture Partners.
According to Actifio, its copy data storage platform lets businesses recover anything instantly, for up to 90 percent less cost than services operated by competitors. The intelligence firm IDC estimates the copy data storage market to be $44 billion.
“As we attack the storage explosion and virtualize legacy IT silos with our copy data storage platform, we’re maniacally focused on one simple thing - making our users happy and successful,” Ash Ashutosh, Actifio’s chief executive, said in a statement.
Rick Kimball, a founding general partner at Technology Crossover Ventures, has joined Actifio’s board of directors.Chris Reidy can be reached at email@example.com.