Intronis Receives $12 Million in Funding

Intronis, Inc., provider of cloud backup solutions for the IT channel, received $12 million in funding led by new investor, Greenspring Associates, with participation from OpenView Venture Partners and the company’s executive management team.

Interim CEO Jay Bolgatz said Intronis will use the funding to hire additional associates, drive technology innovation and expand the company’s market reach in the U.S. and abroad.

"This is a tremendous opportunity for Intronis to build on the success of our technology and further support our channel partners with the industry’s leading cloud backup and recovery solution and support," explained Bolgatz.

"We have been paying close attention to Intronis over the last few years, and are very impressed with the company’s leadership and consistent execution, as well as its innovative technology, exceptional partner satisfaction rating and year-over-year sales growth," said John Avirett, principal, Greenspring Associates. "Intronis’ proven success and relentless focus on delivering a high-quality, highly reliable solution to the MSP market positions the company for sustainable growth, and we are pleased to play a role in its future."

"Intronis’ go-to-market strategy for cloud data protection is rock solid, and we look forward to working with Greenspring as we continue to enhance the company’s dominant position with MSPs," said George Roberts, Intronis board member and venture partner with OpenView Venture Partners.

OpenView initially invested in Intronis in 2007.

Founded in 2003, Intronis has experienced growth, more than doubling its revenues in the last two years. The company is set to announce availability of its fall release later this month. The new release supports VMs and cloud-based infrastructure, enabling channel partners to streamline the overall management of online backups for multiple VMs across several servers to the cloud, as well as on premise locations, and establish profitable, recurring revenue streams.

"Cloud-based data backup and recovery has become an essential solution for businesses and consumers," explained Bolgatz. "This funding, combined with the upcoming launch of our Fall product release, will create unstoppable momentum that further enables Intronis and our channel partners to capitalize on the global market’s increasing need for reliable backup and recovery services."