Trilio Announces $5 Million Series A Funding Round Led by .406 Ventures
BOSTON- October 30, 2017 – Trilio Data, the first and only comprehensive data protection, backup and recovery solution native to OpenStack, today announced that it received $5 million in a Series A funding round led by Boston-based .406 Ventures.
Trilio Data provides a business assurance platform for IT organizations and cloud service providers deploying application workloads in both public and private clouds. An innovator in OpenStack backup, recovery and migration solutions, the company was founded in 2013 to meet the needs of an ever-changing, growing, complex, and scalable environment. The company’s flagship product, TrilioVault, is the trusted data backup and recovery solution of leading OpenStack adopters for data protection, migration, resource management, configuration, change management, and sandbox-as-a-service in private, public and hybrid clouds.
“Research from IDG indicates that by 2018 the majority of organizations’ IT infrastructures will be entirely cloud-based. Having flexible and intelligent backup and recovery solutions are no longer a ‘nice to have’ for businesses. These are critical components of a comprehensive IT strategy,” said David Safaii, CEO of Trilio Data. “This funding will strengthen our ability to support Trilio’s existing customer base, accelerate our technology roadmap and meet the demand we’re experiencing for cloud based application and data assurance inside enterprises worldwide.”
Trilio will use the funding to grow its engineering, sales and marketing teams, and increase channel enablement support for the company’s global customer base. The company will also expand its board of directors by bringing on .406 Ventures partner Greg Dracon and principal Payal Agrawal Divakaran.
“Enterprises are increasingly seeking solutions to reduce the risk, cost and effort of managing data across public, private and hybrid cloud environments” said Dracon. “Our investment in Trilio underscores our belief in both the increased need for business assurance across all cloud types, and the company’s unique ability to meet customer’s requirements.”
About .406 Ventures
.406 Ventures is an early stage technology venture capital firm investing in enterprise technology companies founded by visionary entrepreneurs. With just over $650M under management, the .406 Ventures team is comprised of entrepreneurs and operators who became investors to apply real world experience and strong company-building skills to create value for entrepreneurs and LPs. The firm leads first institutional investment rounds in market-changing Enterprise IT and Healthcare companies led by world-class operators, who move quickly and embody successful entrepreneurial DNA with their passion, creativity and endurance. For more information, please visit www.406ventures.com.
About Trilio Data
Trilio Data is an innovator in OpenStack backup and recovery solutions. The company was founded by technologists who, combined, have more than 45 years of experience at some of the world’s largest storage vendors. Trilio Data was founded to meet the needs of ever-changing, growing, complex, and scalable cloud based architectures, where flexible and intelligent backup and recovery solutions are no longer a “nice to have” – instead, they are critical components of a comprehensive IT strategy. For more information, visit www.trilio.io or call +1-508-233-3912. Follow us on Twitter: @triliodata and LinkedIn.