Atempo is a leading provider of cross-platform data protection and archiving solutions
September 5, 2007
Investment by Intel Capital, Steelpoint Capital Partners, and Ridgewood Capital Supports Growth Potential and Value of Atempo Data Protection and Archiving Solutions
Palo Alto, CA – Atempo, Inc., a leading provider of cross-platform data protection and archiving solutions, today announced that it has raised $22 million in Series B funding to drive the company’s continued global expansion. New investors Intel Capital, who led the round, Steelpoint Capital Partners, and Ridgewood Capital all participated in the funding.
Atempo will use the investment capital to accelerate development of its cross-platform product suite and leverage its award-winning storage management solutions to address the backup, archiving and data storage management needs of companies that depend on the Windows, Mac, Linux, UNIX, and iSeries operating systems. Atempo’s storage management solutions, which include archiving, backup, continuous data protection and rapid restoration products, have a proven record of delivering superior performance in some of the world’s largest, most data-intensive environments. The funding will allow Atempo to build on its success with 3,000 enterprise and mid-market customers by providing tightly integrated data protection and archiving solutions to targeted strategic markets. These opportunities include government agencies, universities, research facilities, digital media and post-production companies.
“With the surging demand for preserving high-value digital assets, there are tremendous growth opportunities for Atempo, particularly among mid-market companies with data-intensive storage and backup requirements that exceed the capabilities of traditional mid-market software,” said Neal Ater, Atempo CEO. “Our software provides the right combination of ease-of-use and performance that has been proven in deployments with some of the world’s largest enterprises. This funding will help fuel product and service innovation, and drive our growth in North America, Europe and Asia.”
“High-performance storage management, backup and recovery are now global enterprise imperatives, driven by the need to preserve and manage valuable digital assets and ensure regulatory compliance,” said Ashish Patel, managing director, Intel Capital. “Atempo is well-positioned to extend its technology solutions in this market segment while expanding worldwide.”
GrowthPoint Technology Partners served as financial advisor to Atempo for the transaction; Fenwick & West served as outside counsel.
Additional information about Atempo’s data protection and archiving software, including Time Navigator, LiveBackup, and Atempo Archive Server, is available at www.atempo.com.
Atempo allows companies and organizations around the world to preserve vital intellectual property and digital information, and to access that information at any time with extraordinary reliability. Digital assets are now the life blood of any business and reliable data protection and archiving solutions must be implemented in order to preserve these assets. From large, centralized data centers and distributed enterprises to small remote offices, Atempo provides highly-scalable backup and recovery, archiving and security solutions for Windows, Mac, Linux, UNIX, iSeries and all major databases and applications. For real-time data protection of laptops and desktops, Atempo’s award-winning continuous data protection technology captures changes as they occur, allowing information to be recovered up to the moment of data loss or hardware failure. Atempo has more than 3,000 customers worldwide, with a sales and support network of global resellers. The company is headquartered in Palo Alto, Calif., and has operations in Europe and Asia. Learn more about Atempo at: www.atempo.com.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$6 billion in approximately 1,000 companies in more than 40 countries. In that timeframe, about 157 portfolio companies have gone public on various exchanges around the world and another 187 have been acquired by other companies. In 2006, Intel Capital invested about US$1.07 billion in 163 deals with approximately 60 percent of funds (excluding Clearwire) invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About Steelpoint Capital Partners
Steelpoint Capital Partners is a growth oriented private equity firm. With offices on both coasts, the firm invests in expansion stage companies in the information technology, media and marketing services, healthcare and consumer markets. Steelpoint was established in 2003 as a spinout of the private equity group of Moore Capital Management. The firm has a flexible investment mandate and invests in companies with outstanding management teams and established products and services. The firm’s portfolio includes over 25 companies primarily throughout the United States. Steelpoint’s team draws on extensive operating and investment experience to provide value-added support to portfolio companies and their management. Additional information is available at www.steelpointcp.com.
About Ridgewood Capital
Ridgewood Capital is an expansion stage venture capital firm with offices in Palo Alto, CA and Ridgewood, NJ. The firm is part of the Ridgewood Family of companies with over $2 billion of capital under management. Ridgewood Capital invests in high growth information technology and energy technology companies. Ridgewood Capital has completed four successful IPOs in the last four years including Volterra, Ikanos, Orbcomm and Comverge. For more information, see www.rwcap.com