CommVault Systems Raises $33.6 Million in Mezzanine Funding; Key Storage Industry Vendor and Investment Firms Drive Rapid Growth of Premier Storage Management Software Vendor.Business/Technology Editors OCEANPORT, N.J.--(BUSINESS WIRE)--Jan. 4, 2001 CommVault Systems CommVault Systems Inc. (NASDAQ: CVLT) is a United States based company specializing in data and storage management software. Created in 1988 as a development group in AT&T's Bell Labs, the group produced AT&T's in-house backup software, Automatic Backup, Archive and Recovery , Inc., an industry-leading provider of enterprise-class data and storage management software solutions, today announced that it has secured over $33 million in new equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. from a group of investors led by a world leader in information storage systems, Dain Rauscher Wessels, Morgan Keegan and Company, and Van Wagoner The Van Wagoner was an American automobile manufactured between 1899 and 1900. Advertised as being "built on a simple plan that does away with several levers and push buttons", the car was built in Syracuse, New York, and could supposedly be "controlled with one hand". Capital Management. CommVault Systems, a privately held software company, will use the funds to continue to develop next generation technologies and to dramatically expand distribution and marketing efforts behind it's flagship CommVault Galaxy Enterprise 2000 storage management software suite. Earlier this year, CommVault completed a round of mezzanine funding in which Microsoft (Nasdaq: MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ) was the lead investor. "CommVault's most recent mezzanine funding enables us to continue to deliver the world's leading storage management solutions," said Bob Hammer Howard Robert Hammer (* March 3 1930 in Indianapolis) is an US-american jazz musician (pianist and arranger). Hammer studied at the Michigan State University and at Manhattan School of Music before taking private lessons by composer Henry Brant. , chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , CommVault Systems. "CommVault's storage management solutions are required to effectively manage very large volumes of data on complex enterprise networks. We now have the financial resources to accelerate global distribution and widen our lead in technology." "CommVault has positioned itself as a vital infrastructure solution within the storage management industry," said Steve Widen, research director, storage software, IDC. "Their portfolio of strategic partnerships combined with the Company's commitment to marketing and engineering support for the Galaxy product suite positions CommVault not only as one of the key providers of storage software solutions for Windows, but also the entire enterprise." Key Benefits of CommVault Galaxy CommVault Galaxy is the first new enterprise-class data protection product developed in the last ten years, and the only one specifically designed to provide heterogeneous storage and data management from a Windows platform. The software solution is engineered to provide perpetual access Perpetual access refers to the right to ongoing access to electronic materials. In situations where digital materials are licensed, access to these materials is often lost after the licensing agreement has expired. to application data, manage scale and diversity in enterprise environments, ensure data integrity and eliminate soft data loss. This is especially important with the increasing popularity of new data-centric computing models such as Network Attached Storage (NAS (1) See network access server. (2) (Network Attached Storage) A specialized file server that connects to the network. A NAS device contains a slimmed-down operating system and a file system and processes only I/O requests by supporting the popular ) and Storage Area Networks (SAN). The business benefits of Galaxy to customers are: -- More reliable data protection on a much larger scale than previously available; -- Advanced data management and faster access to business critical data through Galaxy's tight integration with applications such as Exchange, Oracle and SQL Server An earlier relational DBMS from Sybase and from Microsoft. Sybase introduced SQL Server in 1988 for various Unix versions. In that same year, with help from IBM, Sybase created an OS/2 version that Microsoft licensed and branded as Microsoft SQL Server. ; -- Faster deployment and easier management from a single, unified Windows-based console; -- Support for UNIX operating systems and Oracle databases; -- Ability to assist in the migration from previous Windows operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. and applications to Windows 2000 operating systems and applications. About CommVault Systems CommVault Systems(R), Inc. is a worldwide leader in providing enterprise-wide storage management solutions for client/server environments. The company's singular focus is creating and implementing fast, reliable, and easy-to-use storage management solutions to meet customer's data management requirements. The company's software products seamlessly ensure the reliable, rapid restoration of files, business-critical applications, and today's most popular databases. Information on CommVault is available on the World Wide Web at www.commvault.com or by calling (732) 870-4000. CommVault's corporate headquarters is located in Oceanport, New Jersey Oceanport is a Borough in Monmouth County, New Jersey, United States. As of the United States 2000 Census, the borough population was 5,807. Oceanport was formed as a borough by an Act of the New Jersey Legislature on April 6, 1920, from portions of Eatontown Township (now in the United States. CommVault, CommVault Systems, CommVault Galaxy, CommServe StorageManager, MediaAgent, iDataAgent, CommCell and the CommVault logo are trademarks and may be registered trademarks in some jurisdictions of CommVault Systems, Inc. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion