ExaGrid takes $20M for disk-based backup systems
ExaGrid makes disk-based storage, an alternative to the tape-drive storage that most corporations still use for backing up large volumes of data.
According to the company’s release (found here), their customers report 30 to 80 percent faster backups over tape, which takes a long time to back up data but is favored because it is cheap. The costs are about the same.
The funding is the Westborough, Mass. company’s third, bringing its lifetime total to $65 million. It was led by Lehman Brothers Venture Partners, and previous investors Highland Capital and Sigma Partners also participated.
Next Story: Roundup: Clipmarks purchase closes, Purisma sold, and more
Previous Story: Khosla Ventures and BIOeCON form KiOR to commercialize cellulosic ethanol
About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.