Axcient Raises $25 Million to Fuel Corporate Growth
Round Will Finance First of its Kind SaaS Channel Compensation Model
MOUNTAIN VIEW, Calif. – Feb. 18, 2015 – Axcient, the leader in cloud-based Recovery-as-a-Service (RaaS), today announced $25 million in funding, further validating the demand for its powerfully simple Business Recovery Cloud platform. Analysts expect the RaaS market to explode over the next several years, projecting compound annual growth of 56 percent, and Axcient is the recognized leader by top industry analysts.
Axcient will use the round to invest in sales and marketing, and to finance the industry-first reseller compensation program, SaaS:FLO. In addition, Axcient expects to nearly double its R&D team to continue to drive innovation on its flagship Business Recovery Cloud.
Axcient’s recent corporate, customer and product milestones include:
- More than 50 percent growth in total new customers signed in 2014.
- Acquisition of DirectRestore, a leading granular recovery technology provider, was integrated into Axcient’s core technology to provide customers with faster, more granular recovery options and a reduced storage footprint.
- New and expanded strategic partnerships with Chartec, Ingram Micro, Softchoice and SHI International.
- Expansion of sales force with the opening of a new office in Austin, Texas.
- 54 percent growth in total employee headcount.
- Recognition by CRN for the publication’s Top 50 Midmarket IT Vendor Executives for 2014, Most Powerful Women of the Channel and Top Channel Chiefs, as well as by Silicon Valley Business Journal’s Women of Influence and Business Solutions’ Best Channel Vendor.
- More than 30 new releases and improvements to the Axcient Business Recovery Cloud in 2014, the latest of which improves performance by up to 9x, allows businesses to dramatically reduce their Recovery Point Objectives (RPO) and failover systems instantly.
- The release of Axcient’s Second Generation Virtual Appliance further provides customers with double speed and flexibility, reducing backup times by 50 percent or more.
Axcient is re-architecting the way companies protect, access, and recover data and applications by delivering a Business Recovery Cloud that is powerfully simple. Developed in the cloud, for the cloud, the Axcient Business Recovery Cloud goes beyond backup and mirrors an organization’s entire business in the cloud, including emails, files, applications, operating systems and all of the interconnected elements of a network, to ensure that core business functions are never interrupted.
“Our momentum is accelerating as companies continue to realize the business advantages of the cloud,” said Justin Moore, CEO at Axcient. “The participation of our existing investors, is a strong validation of our technology, the opportunity ahead of us and our business model. We’ll be using the funding to expand our sales and marketing teams to meet the strong customer demand, and we’ll also be building out a new channel strategy and partner program in the immediate future that will significantly change the way SaaS is sold.”
“There is a new wave of cloud companies shaking up the market and we focus on investing in market leaders,” said Will Quist, Managing Director at Industry Ventures. “Axcient continues to lead the industry through its focus on technology innovation and by providing real business value that traditional on-premise hardware and software solutions cannot match. Today, every organization needs to have a plan in place if their IT infrastructure fails. We are extremely excited about Axcient’s new SaaS:FLO compensation model. It is a game-changer that will transform the way SaaS and cloud are sold through the VAR channel.”
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Axcient is the world’s first Business Recovery Cloud, a solution that eliminates data loss, keeps applications up and running, and ensures that IT operations never go down. Companies use Axcient to replace legacy backup, server replication, disaster recovery and archiving products, with a single integrated platform that mirrors an entire business in the cloud. With Axcient’s Powerfully Simple Recovery Cloud you can restore data, failover applications, and virtualize servers or an entire office with a click. Thousands of businesses trust Axcient to keep their applications running and employees always productive. The company is headquartered in Mountain View, Calif.
Axcient raises $25 million in funding, further validating the demand for its powerfully simple Business Recovery Cloud platform.