Clearpace Software, a UK-based provider of database archiving software for the enterprise, has raised $4 million in a VC funding round led by Doughty Hanson.
Archive store specialists Clearpace Software announces that it has secured $4 million in funding led by Doughty Hanson including participation from other existing investors. The investment will be used to expand Clearpace’s successful OEM strategy, which has seen a growing number of ISVs embed Clearpace in their products to deliver highly compressed, secure and accessible archive stores to their customers.
“We have been long-term supporters of Clearpace and the disruptive technology they have introduced into the data management and storage market,” said George W. Powlick, Managing Director at Doughty Hanson. “During 2008, Clearpace strengthened their management team, implemented a well defined indirect go-to-market strategy and continued to invest heavily in R&D. As a result Clearpace is well placed in the current market with a truly differentiated solution and a highly leveraged business model.”
Clearpace will leverage the additional funding to recruit and support new ISV partners in the United States and Europe who embed Clearpace technology. Clearpace recently announced a strategic partnership with Applimation, the leading provider of application data management solutions.
“Clearpace has put in place the platform to build an exceptional company over the last 12 months while also gaining traction and momentum in the application archiving and sunsetting market,” said John Bantleman, CEO of Clearpace. “Companies of all sizes are struggling under the weight of growing data volumes, while also being mandated to keep more data longer. In a nut shell, we solve the long-term data retention problem, enabling companies to store and manage historical data from production or legacy systems as simply, securely and cost-effectively as possible. We are providing the right technology at the right time.”
Annabel O’Connor, Capital MS&L, +44 (0)20 7307 5339
Clearpace Software Ltd is a UK-based software company that provides database archiving solutions for the long-term retention of structured data within the enterprise. Clearpace has become a pioneer in the database archiving market by providing archive stores that are the optimal destination for inactive data that has been removed from production systems. The Clearpace NParchive software enables organisations with large and growing data estates to massively reduce the cost and complexity of storing historical information while making archived data easily accessible for regulatory, legal and business purposes. Using NParchive, companies are able to store as much as 60x more historical information on commodity hardware. Clearpace serves a variety of industries, including Financial Services, Telecommunications, Energy, Utilities, Pharmaceuticals, Retail and the Public Sector.
For more information visit www.clearpace.com
About Doughty Hanson Technology Ventures
Doughty Hanson Technology Ventures aims to help talented entrepreneurs in Europe to build world-class technology companies.
Founded in 2000, Doughty Hanson Technology Ventures is an early-stage, venture capital fund with $272 million under management. Operating from London and Munich, the Fund is independently managed by a dedicated team of professionals with substantial personal experience in the technology and financial sectors. The fund focuses on emerging technology sectors in the areas of software, hardware and clean technologies.
Having established a long track record of successful venture capital investments in Europe and the United States, the team relies on its experience, personal networks and the resources of Doughty Hanson & Co, one of Europe’s largest independent private equity firms, to help identify and grow investment opportunities.
For more information visit www.doughtyhanson.com