Unitrends Receives Major Growth Equity Investment from Insight Venture Partners
COLUMBIA, S.C., Oct. 31, 2013 /PRNewswire/ Unitrends, the leading provider of all-in-one backup, archiving, instant recovery and disaster recovery solutions, today announced that it has received a major growth equity investment from Insight Venture Partners, a leading global 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 of 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, managing director at 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 high-velocity momentum. 2012 closed as the most profitable year in the company's history, and Q3 2013 marked the company's 19 th consecutive quarter of record growth. In 2013, to keep pace with its explosive financial success, Unitrends launched a major expansion into Europe, added to its customer support ranks at its Columbia, S.C., headquarters, and hired 125 new employees across all functional areas. Several prestigious awards programs have also recognized the company's tremendous growth, including the Inc. 500|5000, the Inc. Hire Power Awards and the American Business Awards/The Stevie Awards, among others.