Let’s hear it for Series C funding rounds in tech. In a tough year for mid-stage startup financing deals, at least one Boston-area company isn’t feeling a crunch.
Its market sector has a lot to do with that. Nashua, NH-based enterprise IT startup DataGravity has raised a $50 million C round, led by new investor Accel Partners. Previous investors including Andreessen Horowitz, CRV, and General Catalyst also participated in the round. The company has now raised $92 million to date.
DataGravity was started in 2012 and is led by CEO Paula Long, a veteran of EqualLogic (which was bought by Dell in 2007). The company is at the forefront of a movement in IT to combine data storage and computing resources to create “smart storage.”
DataGravity, along with many other companies, sees a big opportunity to give businesses insights into their corporate data in ways that aren’t easy to do with older, more traditional storage systems from the likes of IBM and EMC. This was one trend highlighted by a recent Xconomy panel on the future of data storage, analytics, and networking.
Author: Gregory T. Huang
Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003.
Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.
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