Carbonite Rival Code 42 Software, Cloud Based Data Storage And Backup Company, Raises $52.5 Million From Accel Partners

Posted on Jan 18 2012 - 8:02am by Editorial Staff

Code 42 Software, a Minnesota-based online backup company, which is known well for the popular PC backup service Crashplan, has raised $52.5 million in investment led by Accel Partners with Split Rock Partners.

Accel Partners and Split Rock Partners do holds now a minority stake in the company.  Code 42 has been doing Crashplan since from 2007. The point then was to rethink the whole mind-numbing notion of backing up the data from a Mac or PC.

Since five years from its launch of Crashplan, company now manages and protects over 100 petabytes of data globally. In addition with this, company holds a varied 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.

This is the first big investment that Accel Partners announced after the $100 million investment it made last year on Big Data, which is dedicated to funding infrastructure and application companies. The investment is the first round investment for Code 42.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.