Active Storage Completes Series A Investment Round
November 17, 2009
Active Storage, Inc. today announced that it has completed its Series A funding round lead by Intel Capital with top-tier venture capital firms Mission Ventures and Valhalla Partners. The company founders were previously executives at Apple, Inc. where they were responsible for Server and Storage products. Their flagship product, the award-winning ActiveRAID, is used in the production and broadcast of high definition television and movies by leading media production companies around the world such as NASCAR Media, Televisa and Golf Channel.
"Our mission since our founding has been to create high-performance, easy-to-use storage for the world's top media companies. Since our launch, even in a tough market, we have had record sales each month and we see incredible growth ahead for the increasingly Apple-based creative media markets" said Alex Grossman, CEO of Active Storage, Inc. "We are very excited to work with firms of the caliber of Intel Capital, Mission Ventures and Valhalla Partners to build our next-generation products to meet the creative users' evolving needs."
“Despite the market conditions we’re pleased to find a tremendous amount of entrepreneurial activity in Southern California. Active Storage is attractive to us as a local company not only for its technology vision but also for the team” said David Ryan, managing partner at Mission Ventures, based in San Diego, California. Mission Ventures predominantly focuses on early-stage investment opportunities in software, I.T. infrastructure and tech-driven services segments.
“We welcome Active Storage to our portfolio and look forward to working with them as a new partner” said Charles Curran, general partner at Valhalla Partners, Inc., based outside of Washington, D.C. “We believe that the media infrastructure segment is one of the few market areas that will continue to show enormous growth and be a strategic technology driver over the next several years, and we look to Active Storage to play a critical role in that development.” Mr. Curran has led or supported Valhalla's investments in data storage including LeftHand Networks (acquired by HP), SEPATON, and Nirvanix.
Active Storage plans to use the capital for development of next generation products and to support sales and marketing efforts.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$9.5 billion in over 1,050 companies in 47 countries. In that timeframe, 175 portfolio companies have gone public on various exchanges around the world and 241 were acquired or participated in a merger. In 2008, Intel Capital invested about US$1.59 billion in 169 investments with approximately 62 percent of funds (excluding Clearwire) invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About Mission Ventures
Mission Ventures helps build successful enterprises in Southern California and creates superior returns on investment for its investors. This is accomplished by investing in the most promising early-stage companies in high growth, emerging markets, and providing significant assistance to those companies as they develop. The Partnership brings value-added capital, experience, management talent, and guidance to the most outstanding and innovative ideas and entrepreneurs in the region. For more information visit http://www.missionventures.com/
About Valhalla Partners
Valhalla Partners is a trusted partner and advisor to technology entrepreneurs in their quest to build world-class companies. Based in Vienna, Virginia, the firm’s management team has made more than 120 investments over the past 20 years and produced almost $1 billion of investment proceeds. Valhalla prefers investments where the mission of the company is to innovate, challenge and fundamentally change the dynamics of new and existing markets. Investments by Valhalla's team include Advertising.com, BDMetrics, CareerBuilder.com, Clarify, EnterpriseDB, Epicor, Exchange Solutions, JumpTap, LeftHand Networks, Mobius, NextLink, Nirvanix, Progress Software, Proxicom, RealOps, Register.com, Riverbed Technologies, SafeNet, SEPATON, ServiceBench, Trilogy, and webMethods. Valhalla Partners brings the full power and network of its experienced team to every investment it makes, helping companies grow faster and smarter regardless of size or maturity. For more information, go to www.valhallapartners.com.
About Active Storage
Active Storage, Inc. is the innovative storage leader for media and creative professionals, broadcast, post-production, on-line and archive solutions. Fast, reliable and easy to deploy, Active Storage products deliver a best-of-breed user experience, marrying award-winning industrial design, unmatched speed, reliability and customer service. Ease of use and robust performance make Active Storage the first choice for complex professional storage deployments. Copyright 2008-2011 Active Storage, Inc. All rights reserved. Active Storage logo is trademark of Active Storage, Inc. iPhone is a trademark of Apple, Inc. Apple, Mac OS X, Bonjour, Cocoa, Dashboard, Xsan, and Xserve are registered trademarks of Apple, Inc. All other company name or product names may be the trademarks of their respective owners.