| SAN FRANCISCO, March 23
SAN FRANCISCO, March 23 Data-management company
Actifio said it had raised $100 million in funding led by Tiger
Global, bringing it to funding levels usually reserved for
Boston-based Actifio has now raised more than $200 million,
including the latest round, valuing the company at $1.1 billion.
While a number of consumer companies carry valuations
topping $1 billion, few enterprise companies do. They include
cloud-storage service Box, mobile-device management company Good
Technology, and storage-infrastructure company Nutanix.
Actifio works by making one copy of a company's data in a
form that works with various applications, avoiding the expense
and inefficiency of storing multiple copies. It also speeds up
accessing the data, said Actifio chief executive Ash Ashutosh.
Bringing Tiger and its experience with late-stage companies
into the fold will help Actifio grow further, Ashutosh said, and
prepare it for an eventual initial public offering, though he
didn't offer an IPO timetable.
For now, he said, instead of an IPO, the company was working
on helping customers and growth.
"The day we find not being a public company is hindering
either of those goals, we'll start considering the process,"
For Actifio's investors, backing the company amounts to a
bet on the continued explosion of data.
"We thought the growth of data was going to be a problem and
a hindrance," said Peter Levine, a partner at Andreessen
Horowitz, which started backing Actifio in 2011. "These guys
solved that problem."
Andreessen and other existing investors North Bridge,
Greylock, Advanced Technology Ventures and Technology Crossover
Ventures joined the round.
Tiger Global has invested in a number of late-stage
venture-backed companies in the past couple of years, including
Eventbrite, SurveyMonkey and OnDeck.
(Reporting by Sarah McBride; Editing by Andrew Hay and Eric