BackAtempo Secures $22 Million in Expansion Capital
Investment by Intel Capital, Steelpoint Capital Partners, and Ridgewood Capital Supports Growth Potential and Value of Atempo Data Protection and Archiving Solutions
PALO ALTO, Calif., Sept. 5, 2007
– 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.
About Atempo
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.