Reduxio raises $22M of Series C to enable hybrid IT data storage and accelerate customer growth
Largest funding round in company’s history led by C5 Capital.
Reduxio Systems, the innovation leader in storage and data management solutions for the enterprise with to-the-second BackDating™ recovery capability, announced it has secured $22.5 million USD of its Series C funding in a round anticipated to total up to $32 million USD. The round was led by London-based C5 Capital (“C5”), a specialist investment manager focused on cyber security, data analytics and cloud computing. This round more than doubles the amount of capital invested in the company, and will fund continued innovation and global marketing of the company’s leading software-defined storage platform.
All previous investors, including Jerusalem Venture Partners, Carmel Ventures, Intel Capital and Seagate Technology also participated in this fundraising round for Reduxio, signaling their confidence and continued support for the company’s strategy to build the leading software platform both in the cloud and on premise. C5’s investment will complement the existing investor group with a specialist focus on cloud infrastructure and cyber security, as well as a strong network that will enhance Reduxio’s growing ecosystem of channel sales and technology partners.
Mark Weiner, co-founder and CEO of Reduxio said, “The future of data storage and protection lies in delivering high performance, easy-to-use solutions designed for the rapidly coming era of hybrid IT – this is precisely why we started the company. Reduxio’s next generation architecture was purpose-built to address this challenge. Our vision and focus align perfectly with C5’s vision, and we welcome their unique expertise to the Reduxio team. This latest round of funding will allow us to continue our exponential growth to meet the needs of our rapidly growing customer base.”
Marcos Battisti, Partner at C5 Capital and new board member of Reduxio said, “Now and again, investors encounter a top team in a new company with the potential to seriously disrupt a market. Reduxio is clearly one of those companies. Reduxio’s technology is reshaping the storage space as we know it. Its software-defined storage technology is built on top of truly unique and ground-breaking IP that provides tangible benefits to on premise, hybrid, and cloud-based customers. Its solution is also being widely seen as one of the key tools to fight the growing threat of ransomware attacks. My partners and I are very proud to be invested in a company as unique as Reduxio.”