Just it was a couple of days ago when we reported and analyzed the two major acquisitions within the online storage sector IBM announced it has acquired XIV, an Israeli company for what is believed to be $350M and some months ago EMC Corporation has snatched up Mozy for $76M. Today we have dug up yet another deal from the same industry.
Intronis Technologies, the parent company of eSureIt’s online storage and backup services, has raised $5 million in Series A round of funding. eSureIt claims to have about 5,000 customers. The funding comes from OpenView Venture Partners, a small Boston based investment fund.
The sector is under no doubt overcrowded and there are many companies offering similar solutions and services yet the business has proved lucrative with recently some major exit hitting the sector. While eSuireIT has been launched in 2003, we think the real entrance for the company into the online storage and back up market is today after getting the crucial funding.
More about eSureIT
The founders of Intronis have more than 30 years of combined IT consulting, computer system and software design and network installation for small and medium sized businesses and individuals. In the late 1990’s, the founders, after talking with dozens of their clients and other IT professionals came to the realization that most small businesses were not backing up their data at all. The few companies that did backup, often did not properly rotate backup tapes, did not verify that backups were successful, and almost always stored their backup storage devices onsite, often right on top of their computers. This recognition led to the creation of Intronis Technologies and after three years of research and development, software design and testing, the launch of the eSureIT online backup service in 2003.
Essentially eSureIT is an online backup service that allows you to backup your valuable computer data over the Internet. eSureIT automates the process of backing up your data offsite. Backups begin automatically and your data is sent to and stored in two redundant storage facilities located hundreds of miles apart. Your data is encrypted, and always remains encrypted using a unique 256 bit encryption key that only you have. Moreover, with this data backup solution, you can restore your files as often as you need to and at any time day or night, in as easy as a few clicks of your mouse. eSureIT has pricing plans starting at $9.95 for home users and $24.95 for businesses. They are also offering a free 30-day software trial with no obligation whatsoever.
More about OpenView Venture Partners
OpenView is an expansion stage venture capital fund, with a focus on high-growth software, internet, and technology-enabled companies. Much of the team’s success has been driven by its active role in providing its portfolio companies with strategic value-add services and highly practical operating expertise. OpenView Venture Partners is based in Boston, MA, and invests globally. The current OpenView fund encompasses $100M in committed capital from leading institutional and private investors worldwide, as well as from the members of the OpenView team.