Unitrends Receives Unknown Growth Equity Investment

Unitrends, Inc. has received a major growth equity investment from Insight Venture Partners, a private equity and venture capital firm.

Financial terms of the transaction were not disclosed.

“Unitrends is in a stronger-than-ever position to transform the way data protection is delivered,” said Mike Coney, president and CEO, Unitrends. “The principles that the Unitrends brand is built on – our business-friendly model, product development and go-to market strategies, and laser-like focus on customer support – will remain unchanged. This foundation, combined with our partnership with Insight Venture Partners and its expertise in the software and technology industries, will enable us to accelerate our growth through the expansion of our existing offerings.”

“Unitrends’ proven track record of success has made it one of the fastest growing data protection vendors in the industry, known for its powerful, cost-effective and easy-to-use solutions,” said Mike Triplett, MD, Insight Venture Partners. “We are excited to partner with the Unitrends team and support their growth in existing and adjacent markets.”

With the investment, Unitrends will continue building on its momentum. 2012 closed as the most profitable year in the company’s history, and Q3 2013 marked the company’s 19th consecutive quarter of record growth. In 2013, to keep pace with its financial success, it launched an expansion into Europe, added to its customer support ranks at its Columbia, SC, HQs, and hired 125 new employees across all functional areas.

Several awards programs have also recognized the company’s growth, including the Inc. 500|5000, the Inc. Hire Power Awards and the American Business Awards/The Stevie Awards.

“We chose Insight Venture Partners specifically because of its incredible track record, its understanding of the business model and its portfolio of companies in our space. Our collective expertise will enable us to scale our business and continue to aggressively address the needs of midmarket IT organizations,” Coney said.

RBC Capital Markets served as exclusive financial advisor for this transaction.