August 7, 2018

Xconomy

Another $100M Boosts Valuation of Boston’s Actifio Above $1 Billion

Actifio, a Waltham, MA-based data management startup that for years downplayed its development despite being worth hundreds of millions of dollars, has added another $100 million round of funding that brings its valuation to more than $1.3 billion, the company announced today.

The business is among a growing list of Boston startups now considered “unicorns,” or companies valued at $1 billion or more. Just last week, Somerville, MA-based Formlabs said it had reached a $1 billion valuation. Actifio actually announced its entrance into the unicorn club in 2014, when it raised a $100 million funding round led by Tiger Global Management.

The latest financing was led by Crestline Investors. Others joining the round include North Bridge Venture Partners, 83North, Advanced Technology Ventures, Heritage Group, Andreessen Horowitz, and earlier investors. Actifio says its services are used by more than 3,000 enterprises worldwide. The company plans to use the funding for sales and marketing, as well as global growth, according to a spokesperson. About 20 percent of its sales come from global companies that are adopting public cloud platforms, the company said in a news release.

Read more: https://www.xconomy.com/boston/2018/08/07/another-100m-boosts-valuation-of-bostons-actifio-above-1-billion/