AutoVirt Adds $4 Million in Financing

AutoVirt, Inc., in automated online data migration solutions for mid-range Windows environments, announced the closing of an additional $4 million in financing with existing investors, Kepha Partners and Sigma Partners, two of the most prominent and well-respected venture capital firms in the world. The additional funds, which bring the total raised to date to $8.5 million, will be used to expand and accelerate AutoVirt’s product development, as well as its sales and marketing efforts.
 
“AutoVirt’s laser-like focus has put it on track to be the data migration solution of choice and consequent market leader,” said Jo Tango, general partner, Kepha Partners and member of the AutoVirt Board of Directors. “We are exceedingly pleased with AutoVirt’s progress since our initial investment, and our participation in this additional financing is a testament to that success.”
 
“Since our initial investment, AutoVirt’s progress has been remarkable,” said Bob Davoli, managing director, Sigma Partners and member of the AutoVirt Board of Directors. “It has identified a very real and immediate customer pain point – Windows data migration, and engineered the world’s first and only fully automated, online software solution designed specifically for the growing mid-market. I believe the company is well positioned to become the next category leader in what promises to be a very lucrative market space.”
 
“While a number of high-end file virtualization and data migration solutions have been introduced, as well as adopted and validated by enterprise IT organizations, they have failed to gain critical mass in the mid-market,” said Klavs Landberg, founder and chief technology officer (CTO), AutoVirt. “AutoVirt has developed the ideal solution for the mid-market – an easy to acquire, deploy, and manage software – at a highly affordable price. Finally, these IT Managers will have the freedom to focus on more critical revenue generating activities.”
 
“What is more, we are in the enviable position of having such a tremendous Board of Directors,” added Landberg. “Together, they have the experience and vision to help us to take full advantage of the incredible opportunity before us.”