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nScaled Announces Series A Investment by Almaz Capital and Doughty Hanson Technology Ventures$7M Investment to Accelerate nScaled's Global Expansion of Its Recovery-as-a-Service Offerings (February 22, 2012)
SAN FRANCISCO, CA -- (Marketwire) -- 02/22/12 -- 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.
About Almaz Capital
Almaz Capital is one of the leading venture capital firms serving entrepreneurs and companies with ties to Russia and the Commonwealth of Independent States (CIS). Investors and strategic partners of the firm include industry leaders, such as Cisco, the European Bank for Reconstruction and Development (the "EBRD"), and UFG Asset Management. Almaz Capital primarily targets early and expansion stage investments in high growth sectors, including Technology, Digital Media, and Communications. In addition to extensive experience in Russia and the CIS, the firm's network in Silicon Valley offers portfolio companies an effective local investment partner with global reach. For more information please go to http://www.almazcapital.com/
About Doughty Hanson Technology Ventures
Doughty Hanson Technology Ventures invests in exceptional entrepreneurs and management teams that have the passion, commitment and vision to conceive great ideas and build global businesses. Their investment strategy targets companies that develop sophisticated and proprietary technologies and focuses on three industry sectors: internet software, mobile communications and clean energy technology. For more information please go to http://www.doughtyhanson.com/
About nScaled Inc.
nScaled provides Recovery-as-a-Service (RaaS) to mid-size companies worldwide. They provide an all-in-one solution for disaster recovery, business continuity, backup and archiving to customers with zero tolerance for data loss or downtime. nScaled's customers are banks, law firms, hospitals, manufacturers, retailers, universities -- any organization that needs to be ready for the inevitable problems that lead to data or server loss. All services are based on a global network of remote cloud data centers plus on-premises local cloud appliance, all managed as one secure, seamless infrastructure. The company is headquartered in San Francisco, with offices in London. For more information, please visit http://www.nscaled.com or write to [email protected].
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