French Start-up Active Circle Raises $11 Million

Active Circle has announced the closing of its second round of funding, securing investments totaling $11 million from Innovacom (a first round investor), OTC AssetManagement, and Quest For Growth, a European investment fund. Active Circle was advised by Aelios Finance.

Active Circle has developed and markets an innovative software-based solution that responds to the market need for storage and archiving of very large volumes of data. Active Circle software delivers a set of valueadded storage services that include hierarchical storage, archiving, replication, data security, and continuity of service. The Active Circle solution helps customers stay ahead of data growth and move away from proprietary storage solutions.

"The first round of funding allowed Active Circle to conduct an intensive R&D program over 3 years, to develop a unique technology and to reach its initial business objectives. This second round provides the company with the means to reach the next level and to accelerate our international business development," explain Dominique Vinay, President, and Philippe Lerer, CEO, of Active Circle.

"We were impressed with Active Circle’s ability to deliver innovative and robust technological solutions in a mission-critical sector like storage. This market has been waiting for technologies like Active Circle," said Xavier Faure, associate at OTC Asset Management.

"Active Circle’s commercial successes with such clients as the Synchrotron Soleil and the IGN (Institut Géographique National) have reinforced our commitment to continue working with Active Circle. With this second round, we have given Active Circle a solid financial foundation and provided the means to plan ahead," said Jacques Meheut, General Manager, Innovacom.

"In Active Circle we have identified a company with strong potential for international growth and a technology that is unique in the storage market. Furthermore, over the years the founders have been able to strengthen the management team, an important indicator of success," said Katrin Geyskens, Senior Investment Manager at Quest For Growth.