Monday, October 3, 2011

Axcient Brings In $15.5M

Mountain View-based Axcient, a developer of data backup and business continuity software, said this morning that it has raised $15.5M in a new funding round. The Series C round came from Scale Venture Partners, along with prior investors Allegis Capital, Peninsula Ventures, and Thomvest Ventures. Rory O'Driscoll of Scale joins the company's board as part of the funding. The company said the new round brings its total funding to $33.5M. Axcient's cloud based software is used for backing up servers and laptops. More information »