Friday, February 13, 2015

CloudVelox Captures $15M For Cloud Disaster Recovery Service

Santa Clara-based CloudVelox, a provider of cloud-based disaster recovery (DR) and migration tools, said Thursday that it has raised $15M in a Series C funding round. The funding came from Cisco Investments, Mayfield Fund, Pelion Venture Partners and Third Point Ventures. The company says it has now raised $33M in total. The firm said the funding goes towards sales and marketing, as well as product development. Cloud Velox is led by Rajeev Chawla.