Seattle-based Datacastle, the data backup and recovery software firm, has closed a $3 million funding round, according to CEO and president Ron Faith. The round was led by existing investor CM Capital Investments, a leading venture firm in Australia. The funding was disclosed in a regulatory filing.
“We plan to use the funds for sales and marketing activities to fuel our continued growth,” Faith said in an e-mail message.
Datacastle’s software helps companies and other organizations cheaply and efficiently protect their data on personal computers against damage, loss, and theft. It also does data encryption, and reduces the storage space needed for files.
Faith calls himself a “member in good standing in the ‘Qpass mafia.’” (He previously held senior leadership positions in sales, business development, and product management during more than eight years at the Seattle mobile commerce firm.) He joined Datacastle as CEO last year, succeeding founder Gary Sumner, who is the company’s chief technology officer.
Datacastle was founded in 2005 and most recently raised a $5.3 million Series A round led by CM Capital, about a year ago. Before that, the company raised seed-stage funding in 2007.
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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