Datacastle Raises $2 Million For Channel Expansion
Data protection specialist Datacastle has raised another $2 million — and the company plans to spend it on building momentum in the channel. Leading the round were Australian VCs CM Capital and Haag Ltd., indicating some financial confidence in Datacastle’s SaaS and on-premise security solutions.
In their press release, Datacastle credits the successful capital-wrangling with a 2010 that saw the company sign all kinds of deals, including: an OEM arrangement with Seagate subsidiary i365 to resell their trademark Datacastle RED data protection solution; a deal with Canadian MSP Bayleaf to host Datacastle endpoint protection products in the cloud; moving their laptop protection solution to the Microsoft Windows Azure cloud platform.
Still, details about how Datacastle will actually build its channel have yet to be announced. The company reached out to MSPs in 20098 but Datacastle has been a bit more silent on the channel front in recent quarters. We suspect the $2 million in new financing may change that.