October 9, 2012
Boston Business Journal
Fast-growing Actifio to move into 3x larger Waltham HQ
Data management firm Actifio is set to move to a new headquarters in Waltham that more than triples the size of its current office, amid revenue growth that executives believe makes Actifio 'the fastest-growing enterprise storage company ever,' founder and CEO Ash Ashutosh said in an interview.
Ashutosh said the Waltham-based company expects to generate more than $30 million in revenue this year, despite only having been founded in 2009.
'No other enterprise storage company has gotten to this level as fast as we have,' he said. 'Many companies are just getting to releasing their product around this time.'
Actifio aims to cut data management costs for enterprises by up to 90 percent while bringing an 'Apple-like simplicity' to the process, Ashutosh has said. The service revolves around drastically reducing the number of copies a company needs to make of its data, while ensuring the data is still accessible and protected.
Actifio reports having nearly 180 customers — including Time Warner Cable (NYSE: TWC) and Boston University Medical Center — and average deal sizes of about $250,000.
The company expects to move into its new headquarters at 333 Wyman St. by the middle of this month, said Actifio chief marketing officer Mike Troiano. The 50,000-square-foot office offers far more space for hiring than the current 14,000-square-foot headquarters, he said.
Actifio employs 70 in Waltham currently, and expects to expand to 200 employees in the office by mid-2014, Ashutosh said. The company's total headcount currently is at 200, and the firm has sales offices outside the U.S. in Asia-Pacific, Europe and the Middle East, he said.
Actifio also remains on track to federally file its intentions for an IPO by late 2013, and has begun 'engaging with the appropriate ecosystem to make that happen,' Ashutosh said.
'We are determined to build the next great technology brand in Boston. We are not in this to build something quick and flip it to somebody,' Troiano said.
Actifio last raised funding in December, a $33 million Series B round led by prominent Silicon Valley venture capital firm Andreessen Horowitz, a backer of Facebook, Twitter and Pinterest.
Actifio is the among the companies featured in my post, Boston's next 10 tech IPOs?