Actiance Raises $28 Million

Actiance, Inc., in compliance, security, archiving and eDiscovery for all critical business communications, announced the close of $28 million in a late-stage growth investment, as the company extends its position in the rapidly evolving, high-growth, compliance, archiving, and eDiscovery markets.

New investor, Golub Capital, joined existing investors Credit Suisse, NEXT Investors, JK&B Capital, Scale Venture Partners and Sutter Hill Ventures.

The funds will be used to accelerate go-to-market, extend product innovation and scale globally to meet the growing market demand.

“Actiance is piloting a strong growth trajectory. As companies struggle to manage new communication and collaboration channels, they need a solution like Actiance that enables them to fully utilize the channels they need to keep in touch and stay ahead,” said Peter Fair, MD, Golub Capital. “Actiance is passionately focused on the customer and execution, and Golub Capital is excited to help build Actiance’s leadership in this new world.“

Actiance will use the new funding to invest in go-to market for Alcatraz, open new data centers in Europe and introduce new capabilities on top of Alcatraz which will be showcased at Unleash 2015, the company’s user conference, June 11-12 in New York City, NY.

The round of funding adds further momentum to an already prosperous 2015 for Actiance. According to IDC, the combined worldwide market for archive software and eDiscovery software is expected to reach $5 billion by 2018. (Worldwide Archiving Software 2014-2018 Forecast and 2013 Vendor Shares, June 2014, Doc# 249723) and (Worldwide eDiscovery Software 2014-2018 Forecast, May 2014, Doc #248243).

Actiance is seeing strong demand for Alcatraz, its newly-launched cloud-based content store for email and social communication channels, with new customers across the financial services and insurance industries.

The company is also seeing significant demand in Europe and plans to open data centers in Frankfurt and Amsterdam this quarter to aggressively pursue these opportunities.

“As security and data privacy become more important in Europe, it’s good business practice for US companies to consider opening data centers overseas to assuage customer concerns about privacy regulations and data access,” said Sean Pike, program director, eDiscovery and information governance research, IDC. “This holds particularly true in countries like Germany, where data privacy rules are very strict.“

“We are excited about the shared commitment that our investors have in Actiance and our vision,” said Kailash Ambwani, CEO, Actiance. “This investment will help us rapidly innovate and serve our customers as we unveil groundbreaking products. We will continue to anticipate market needs and scale our business to deliver solutions around the world.”

Actiance HQs are in Redwood City, CA.