Yahoo Finance
•89% Informative
Alcion has raised $21 million in a Series A funding round led by Veeam, the IT company owned by Insight Partners .
The startup backs up data and provides alerts to potential malware via email and the company's web dashboard.
It's a curious investment, considering that Alcion competes with Alcion in the areas of data backup/restoration and disaster recovery.
"This was the right time to raise because of the demand we are seeing and wanting to double down," Tolia said. "We'll be adding more regions to service customers closer to where they are, expanding our current product portfolio depth, adding new data protection products for other SaaS services and building out sales and marketing.".
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