News
Doughty Hanson Technology Ventures Invests $1.5m In nScaled
22/02/2012
nScaled, a pioneering provider of cloud-based Recovery-as-a-Service (RaaS) solutions, today announced that it has completed a Series A round of financing, securing $7 million in investments from Almaz Capital and Doughty Hanson Technology Ventures, as well as leading Silicon Valley angel investors. The investment will be used to fund nScaled’s growth, including expansion of its global network of data centers and new software development, as well as sales and marketing efforts.
Peter Loukianoff, co-founder and managing partner of Almaz Capital said, “In nScaled we found a company that is in prime position to command a dominant role in the emerging market of cloud-based disaster recovery. nScaled’s technology platform will enable the company to broaden its service offerings in the future and allow customers to take full advantage of the cloud and its enormous economic and operational benefits. Cloud-computing is forcing dramatic structural changes in the way software applications are consumed by companies of all sizes and nScaled is well-positioned to capitalize on this tectonic market shift.”
“We invested in nScaled because we believe there is a gap in the market for technology that simplifies and reduces the cost of providing disaster recovery,” added George Powlick, managing director at Doughty Hanson Technology Ventures. “nScaled’s early success and the market’s acceptance of Cloud-based recovery services make us confident that nScaled will become a leader in the market."
“2011 was a stellar year for nScaled. We tripled the size of our business by virtually all measures and we have similarly aggressive growth plans for 2012,” said Mark Hadfield, CEO of nScaled. “This funding will help us achieve that growth and position us as one of the dominant players in Recovery-as-a-service.”
As part of its growth strategy, nScaled recently announced the availability of free accounts designed to provide prospective customers with a fast and easy way to discover Cloud-based disaster recovery, backup and archiving capabilities for their VMware data centers.