$7 Million Series A for nScaled

nScaled, Inc., provider of cloud-based Recovery-as-a-Service (RaaS) solutions, has completed a Series A financing of $7 million with investments by Almaz Capital and Doughty Hanson Technology Ventures, as well as Silicon Valley angel investors.

The investment will be used to fund growth, including expansion of its network of data centers, new software development, and sales and marketing.

Peter Loukianoff, co-founder and managing partner of Almaz Capital said: "In nScaled we found a company that is in prime position to command a dominant role in the emerging market of cloud-based disaster recovery. nScaled’s technology platform will enable the company to broaden its service offerings in the future and allow customers to take full advantage of the cloud and its enormous economic and operational benefits. Cloud-computing is forcing dramatic structural changes in the way software applications are consumed by companies of all sizes, and nScaled is well-positioned to capitalize on this tectonic market shift."

"We invested in nScaled because we believe there is a gap in the market for technology that simplifies and reduces the cost of providing disaster recovery," added George Powlick, managing director at Doughty Hanson Technology Ventures. "nScaled’s early success and the market’s acceptance of cloud-based recovery services make us confident that nScaled will become a leader in the market."

"We tripled the size of our business by virtually all measures in 2011, and we have similarly aggressive growth plans for 2012," said Mark Hadfield, CEO of nScaled. "This funding will help us achieve that growth and position us as one of the dominant players in recovery-as-a-service."