ThomVest Ventures Leads $9 Million Investment in Series B Funding Round for Axcient

Based in Mountain View, California, Axcient announced on August 3, 2010, that it has just completed its series B funding round with ThomVest Ventures leading the funding and the company’s existing investors all participating in the funding round. Axcient’s existing investors include Allegis Capital and Peninsula Ventures. Axcient is a market leader in data backup services that are intended for the business community. Some of the services that Axcient offers its customers include a comprehensive data backup system, disaster recovery services, and MSPs or Managed Service Providers. Axcient’s primary clientele are small to medium sized businesses.

According to Axcient’s CEO, Justin Moore, the way small and medium businesses think about data backup is changing rapidly with the advance of information technology these days. With most businesses today relying on digital data and software applications to function and the rising cost for IT service providers, there is a need for a solution that can help small and medium businesses protect and backup their data. Axcient is the first company to provide a complete service for all business needs to continue to operate in the event of data loss or other electronic disasters that can cripple a modern business. The unified platform provides everything that small and medium businesses need to protect their data and ensure undisrupted operation in the event that a disaster may unfold. These solutions include data backup, disaster recovery, and SMBs. Businesses can use Axcient’s unified platform to completely back up their data and recover important data in a disaster all for a low monthly fee. This allows companies and businesses to safely protect their data and manage services in any kind of disaster without the high costs associated with IT companies.

As part of the agreement for the funding, ThomVest’s managing director, Don Butler, will join the company’s board of directors. Other members of the board include Pete Bodine, Steve Lewis, Justin Moore, Thomas T. van Overbeek, and Greg Robinson.

According to Mr. Butler, ThomVest Ventures has always been supporting innovative entrepreneurs who are looking to disrupt the status quo and Axcient definitely fits that criteria. With Axcient’s innovative new technology, the company has been challenging the conventional way businesses back up data and the fact that the idea of how data is protected, Axcient is definitely establishing a leadership role in the data backup market.

Thomvest Ventures is a vc firm that primarily invests in innovative entrepreneurs in the tech industry. When making investments, ThomVest pays the utmost attention to the entrepreneur’s intellectual property and the entrepreneur’s ability to apply the technology to meet the demands of the larger market. Some other companies in ThomVest’s portfolio include Certicom, GuardianEdge, Netbase, Nexabit Networks, Okena, Yotta Mark, and others.