Code 42 Software , a Minnesota-based online backup company for consumers, businesses and the enterprise, has raised $52.5 million in funding led by Accel Partners with participation from Split Rock Partners. This is the first major investment from Accel’s recently announced Big Data Fund , which is dedicated to funding infrastructure and application companies in “Big Data.” This is the first round of institutional investing for Code 42. You may not have heard of Code 42, but the enterprise company should be on your radar. Founded by Brian Bispala, Mitch Coopet and Matthew Dornquast, Code 42 launched CrashPlan, a personal data protection and backup software, back in 2007. The intention of CrashPlan was to reinvent backup by developing an easy-to-use technology to protect data whenever and wherever it is created. After introducing CrashPlan to consumers, Code 42 decided to use this knowledge gained to develop and deliver a backup software that was enterprise-grade. Just five years after launching CrashPlan, Code 42 now manages and protects over 100 petabytes of data globally. In addition to CrashPlan for consumers, Code 42’s product lineup includes online backup solutions for the SMB, CrashPlan PRO, and private and public cloud solutions for the enterprise, CrashPlan PROe. All of the company’s data storage and backup products are cross-platform, and provide continuous protection onsite, offsite and online. The virtue of Code 42′s offering is that the software can be used for both public and private clouds. Dornquast explained to me in an interview that most large enterprises believe in a hybrid model, with four out of five of the company’s enterprise customers building their own private cloud as opposed to relying on an untrusted cloud. Dornquast says that Code 42′s ‘secret sauce’ is the company has engineered its own storage technology, that allows businesses to build their own private clouds. As he explains, Code 42 is “part software company, part cloud storage company, and part managed appliance hardware company.” Crashplan product has been deployed in over 4000 “big data” enterprise environments and customers include: Adobe, Google, Groupon, HP, Intuit, NASA, LinkedIn, Salesforce.com, and Stanford University. For example, Dornquast said Google has been is using Crashplan for internal data storage. While revenue was not disclosed, the company has seen 500 percent growth over the last three years, and is profitable. Accel partner Ping Li explains that managing data on multiple devices is a challenge for both consumers and the enterprise, and being able to move this data safely and securely is becoming more and more important. With this in mind, there needs to be real technology behind this issue, he says. Li (and Accel) believes that device and information data management in the cloud is an example of a big data application ripe for disruption. Code 42 provides a scalable and seamless multi-device “big data information management platform” to continuously protect and manage this growing data in real-time across any device. What struck Li has being particularly unique about Code 42 (besides the technology itself) is that although the startup provides major infrastructure and helps manage massive amounts of data, the UI is lightweight and resonates with the trend of the consumerization of IT. As Dornquast tells me, this clean, consumer product-like experience is one of the key reasons the company has been able to pull in customers like Google. The company has been able to back-up over 250 million files per day across multiple data centers globally; and service customers from soccer moms to Fortune 100 companies. Code 42 faces competition from Carbonite , Box and others. The new funding will be will be used to accelerate multi-platform product development and increase sales and marketing efforts internationally.
Posts Tagged ‘enterprise’
Accel Leads $52.5M Round In Cloud-Based Data Storage And Backup Company Code 42
AmEx Puts $125M In And Partners With Chinese Mobile Payments Company Lianlian To License Serve
American Express is making a significant move in the expansion of its digital wallet, Serve to international markets today. The credit card company is announcing the first global partnership for Serve with Lianlian Group, of of China’s leading mobile payments providers. Additionally, AmEx has also made an equity investment of $125 million in LianLian Pay. For background, Serve integrates a variety of payment options into a single account that can be funded from a bank account, debit, credit or charge card. AmEx has landed a number of lucrative carrier partner deals for Serve in the U.S. but this is the first step towards expanding Serve’s technology into one of the fastest growing consumer markets in the world. Amex has entered into an operating agreement with Lianlian Group which will allow Lianlian to license and use Serve in products and services it develops for its consumer and business customers in China. The Serve platform will help power a new Lianlian Group digital wallet that consumers can use to top up mobile phone minutes, pay bills and purchase products or services online. Founded in 2004, Lianlian Group has served approximately 300 million mobile phone accounts. It operates a network of over 300,000 small business agents across China where customers can buy additional top up minutes on their mobile phones. A portion of that network also allows customers to purchase airline tickets, video gaming credits and utility bills. Group President for Enterprise Growth for American Express Dan Schulman tells us in an interview that American Express has come to realize that in a lot of fast growing economies internationally, people move money in different ways and in order to enter these markets, the company has to think beyond just plastic cards and checks, and consider moving straight to mobile platforms. With the Lianlian Group, AmEx gets access to a company that has partnered with 3 of the largest carriers in China, and served one-third of all Chinese mobile users through payments network infrastructure, he explains. So a Chinese consumer who was paying cash to get minutes can now load the Serve-powered Lianlian digital wallet and have the choice of digital commerce, paying bills via their mobile wallet, send peer-to-peer payments, buying more minutes and ringtones and more, says Schulman. AmEx is generally predicting China to be a huge market for its mobile and digital payments products and is planning to open a new American Express’ Enterprise Growth Group office in Hangzhou, China. The China-based team will provide technical and consulting support to Lianlian Group on the Serve partnership, and the new outpost will be headed by Matthew Lee, President, Enterprise Growth, American Express, China. With the mobile penetration in China , it’s no surprise that AmEx chose the market as its first global opportunity to expand Serve. AliPay is also playing in the space . Another area where we’ll see Serve expand is on data. As Harshul Sanghi, American Express’ VP of Enterprise Growth Group, told us recently, the personalized experience is going to be key in providing the digital wallet that consumers flock to. Intent data, structured data and unstructured data will all play a part of delivering a personalized payments experience for Serve. In terms of financial companies, American Express has been at the forefront of trying to expand their mobile and digital offerings beyond the credit card business. Besides carrier partnerships for Serve, AmEx has announced a number of recent partnerships in the payments space include Foursquare , Facebook and even Zynga for personalized deals. The company has also been acquiring payments technologies and will be doing more investing in the space with a new $100 million fund.
Distribution Release: Oracle Linux 6.2
Oracle has announced the release of Oracle Linux 6.2, a clone of Red Hat Enterprise Linux which is free to download, but requires a paid contract for security and other updates: “Oracle is pleased to announce the general availability of Oracle Linux 6.2 for x86 (32-bit) and x86_64….
Distribution Release: CentOS 6.2
Karanbir Singh has announced the release of CentOS 6.2, the latest version of the community distribution built by compiling the source code for Red Hat Enterprise Linux 6.2: “We are pleased to announce the immediate availability of CentOS 6.2 for i386 and x86_64 architectures. CentOS 6.2 is based….
Distribution Release: PUIAS Linux 6.2
Thomas Uphill has announced the release of PUIAS Linux 6.2 (code name “Pisa”), a distribution built by compiling the source packages for Red Hat Enterprise Linux 6.2, with extra repositories with additional software packages. It is maintained by the Institute for Advanced Study at Princeton University in the….
Development Release: ClearOS 6.2 Beta 2 "Enterprise"
Peter Baldwin has announced the availability of a new beta release of ClearOS 6.2 “Enterprise” edition, a network and gateway server designed for small organizations and distributed environments, based on Red Hat Enterprise Linux 6.2: “ClearOS Enterprise 6.2.0 beta 2 has arrived. Hey, what happened to the version….
Distribution Release: Red Hat Enterprise Linux 6.2
Red Hat has announced the release of Red Hat Enterprise Linux 6.2, an updated version of the world’s most widely deployed enterprise Linux distribution: “Today Red Hat announces the general availability of Red Hat Enterprise Linux 6.2, which delivers to customers a second wave of feature enhancements and….
Distribution Release: CentOS 6.1
Karanbir Singh has announced the release of CentOS 6.1, a new version of the popular distribution built from source code for Red Hat Enterprise Linux 6.1: “We are pleased to announce the immediate availability of CentOS 6.1 install media for i386 and x86_64 architectures. CentOS 6.1 is based….
PARC Spin-Out PowerCloud Systems Raises $6 Million From Qualcomm
PowerCloud Systems , a spin-out of Palo Alto Research Center (PARC) that offers a ‘networking-as-a-service’ platform for OEMs and service providers, has raised $6 million in Series B funding in a round led by Qualcomm Ventures , with prior backers Walden Venture Capital, Javelin Venture Partners and PARC participating. The capital will be used to enhance the company’s online software platform, CloudCommand . The CloudCommand platform enables networking OEMs and service providers to integrate cloud capabilities with their wireless and wired networking equipment and to deliver networking-as-a-service-based solutions for SMBs. CloudCommand’s initial implementations support Wi-Fi networking, and in 2012 the company says it will expand into additional networking categories. PowerCloud Systems is not only a spin-out from PARC, but its technology is also supported by intellectual property developed at the research center, including 10 patents in areas ranging from cloud-virtualized network controllers to usable security. The company has raised approximately $10 million to date.



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