Clearpace Software Secures $4 Million in Funding

UK-based archive store specialists Clearpace Software Ltd. has secured $4 million in funding led by Doughty Hanson Technology Ventures including participation from other existing investors. The investment will be used to expand Clearpace’s successful OEM strategy, which has seen a growing number of ISVs embed Clearpace in their products to deliver highly compressed, secure and accessible archive stores to their customers.

"We have been long-term supporters of Clearpace and the disruptive technology they have introduced into the data management and storage market," said George W. Powlick, Managing Director at Doughty Hanson. "During 2008, Clearpace strengthened their management team, implemented a well defined indirect go-to-market strategy and continued to invest heavily in R&D. As a result Clearpace is well placed in the current market with a truly differentiated solution and a highly leveraged business model."

Clearpace will leverage the additional funding to recruit and support new ISV partners in the United States and Europe who embed Clearpace technology. Clearpace recently announced a strategic partnership with Applimation, the leading provider of application data management solutions.

"Clearpace has put in place the platform to build an exceptional company over the last 12 months while also gaining traction and momentum in the application archiving and sunsetting market," said John Bantleman, CEO of Clearpace. "Companies of all sizes are struggling under the weight of growing data volumes, while also being mandated to keep more data longer. In a nut shell, we solve the long-term data retention problem, enabling companies to store and manage historical data from production or legacy systems as simply, securely and cost-effectively as possible. We are providing the right technology at the right time."