Friday September 7, 2012 0 comments
BROOMFIELD - Datavail announced it has received $4.25 million in growth equity funding from new investor Meritage Funds and existing investors Boulder Ventures and Montis Capital.
The third round of financing will support Datavail's vision of becoming one of the largest database services companies in the world, the company said.
Datavail is one of the largest providers of remote database administration (DBA) services in North America and the largest remote managed services provider in the Rocky Mountain region.
"We are pleased to add Datavail to the Meritage growth equity portfolio," said Ryan Pollack, Meritage Funds' managing director. "Mark Perlstein and his team have built a world-class company with a market-leading solution, and Datavail is quickly becoming the leader in the DBA services space in North America."
Datavail said it has plans to expand its operations in the northeast U.S. to serve New York, New Jersey and Philadelphia markets. In addition to extending its footprint, the company said it will earmark funds to support new marketing initiatives, internal infrastructure projects and research and development efforts.
"Our performance as a team, and the success we have generated by working together, are the reasons we were able to complete this financing," said Perlstein, Datavail's president and CEO.
In July, Datavail announced its acquisition of Seattle-based Blue Gecko. Last month, Datavail was included in the Inc. 5000 list of fastest-growing private American companies.
For more information, visit www.datavail.com.