RainStor Raises $7.5M in Funding
RainStor, the data storage provider that works with MSPs to back up historical application information, has raised $7.5 million in Series B funding. Here’s the story. The official press release indicates that RainStor intends to use the funding to invest in product R&D, expand into new (presumably international) markets, and to grow its partner base.
The financial backing is a vote of confidence from investment firm Storm Ventures and data integration software vendor Informatica – and existing investors Doughty Hanson Technology Ventures and The Dow Chemical Company got in on this round of funding, as well.
In business terms, RainStor seems to be doing fairly well for itself: formed in the first half of 2009, it has 50 customers leveraging its hosted RainStor 3.5 information backup solution.
They’re privately held, so we don’t know many more details, but RainStor is clearly in growth mode.
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