|By Business Wire||
|January 29, 2013 08:03 AM EST||
DataGravity, an early-stage company with a mission to turn data into information, today announced that it has raised $30 million in a series B investment round led by Silicon Valley venture capital firm Andreessen Horowitz. Previous investors Charles River Ventures and General Catalyst Partners also participated in the round. DataGravity will use this investment to advance product development and to scale marketing and sales efforts to support the company’s go-to-market strategy.
DataGravity’s mission is to turn data into information by developing products that will remove the need for complex software packages and help IT managers and administrators extract value and information from stored data. The company’s founding team comprises Paula Long, one of the founders of EqualLogic (acquired by Dell in 2008), and John Joseph, former vice president of marketing and product management at EqualLogic. Together, the co-founders represent a blend of technology leadership and vision with the know-how that made EqualLogic successful.
“There’s a renaissance underway in enterprise computing, and DataGravity is among the pioneering companies doing the hard work of solving intractable enterprise challenges. DataGravity is positioned to be in front of a potentially enormous market, and the management team’s technical and operational expertise has the experience to lead it. For me, that’s an unbeatable value proposition,” said Peter Levine, partner at Andreessen Horowitz, a venture capital firm known for investing in groundbreaking companies that are led by technical founders.
Levine will join the DataGravity board of directors, where he will apply his long track record of leading technology companies to successful outcomes. Levine joins existing DataGravity board members David Orfao, managing director at General Catalyst Partners, and Bruce Sachs, general partner at Charles River Ventures.
“Peter Levine was extremely influential in the last storage market transformation and it seems fitting that he will be part of a new wave of innovation by companies like ours,” said Paula Long, co-founder and CEO of DataGravity. “Andreessen Horowitz is the perfect partner to join our already strong set of backers. With this funding, DataGravity will move forward in addressing the enterprise mandate to radically change the way IT extracts information from data.”
DataGravity is an emerging company with a mission to turn data into information. Led by Co-founder and CEO Paula Long, one of the founders of EqualLogic (acquired by Dell in 2008), and Co-founder and President John Joseph, formerly vice president of marketing and product management at EqualLogic, DataGravity is changing the status quo of how enterprises extract value and information from their stored data without the need for complex software packages. DataGravity is headquartered in Nashua, N.H. and is privately funded by Andreessen Horowitz, Charles River Ventures and General Catalyst Partners. Visit us on Facebook and follow us on LinkedIn.
About Andreessen Horowitz
Andreessen Horowitz is a venture capital firm that provides seed, venture and growth-stage funding to the best new technology companies. Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz helps entrepreneurs become successful CEOs and build important and enduring companies. Its investing partners are Marc Andreessen, Ben Horowitz, John O'Farrell, Scott Weiss, Jeff Jordan, Peter Levine and Chris Dixon, all widely recognized experts in the creation, scaling and operation of high growth technology companies. The firm has $2.7 billion under management across three funds. Among its 170 investments are Airbnb, Apptio, Box, Fab, Facebook, Foursquare, GitHub, Jawbone, Lytro, Pinterest, Quirky and Twitter. The firm was established in June 2009 and is located in Menlo Park, California. www.a16z.com
About Charles River Ventures
Founded in 1970, Charles River Ventures is one of the nation's oldest and most successful early-stage venture capital firms with approximately $2.1 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in high growth technology and media sectors. Over the past 20 years, CRV funds have been ranked among the industry's top performers. CRV has offices in Boston, MA and Menlo Park, CA. For more information visit www.crv.com.
About General Catalyst Partners
General Catalyst Partners is a growth equity and venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst has offices in Cambridge, MA and Palo Alto, CA. For more information, please visit: http://www.generalcatalyst.com.
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