Thursday, January 7, 2010

Carbonite Raises $20 million for its Online Backup Service

Carbonite, a start-up based in Boston ,closed a mezzanine round of funding that provides approximately $20 million of new capital for its Online Backup service, which was originally launched in May 2006.

In the last year, Carbonite expanded its product offering to include a Macintosh solution and Remote File Access, which enables any Carbonite user to access backed up files from any web browser. Additionally, the company has forged distribution agreements with Seagate and Sun Microsystems.

Crosslink Capital of San Francisco led this round with participation from all existing investors, including Menlo Ventures, Performance Equity, and Common Angels Fund. Gary Hromadko, venture partner at Crosslink, will join the Carbonite board of directors.

This brings the total financing raised by the Boston-based company to approximately $67 million.

  • Since 2006, Carbonite has backed up more than 39 billion files and has restored more than 3.2 billion lost files for its customers. Carbonite backs up more than 100 million files every day to high-redundancy storage servers in its Boston and Somerville, Mass. data centers.

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