Actifio could tee up IPO next year
Friday Aug 24, 2012 by Brendan Lynch - Contributor, VentureFizz
Waltham cloud data management startup Actifio is readying an iPad app and planning an initial public offering as early as the end of 2013.
Chief Marketing Officer Michael Troiano said going public made sense as the company brought on bigger companies as clients.
"We're pretty focused on an IPO," he said. "Not so much as an exit, but more as the company going pro. Public companies like to buy from public companies."
Troiano wouldn't disclose Actifio's revenue other than to say it had doubled quarter over quarter for the last six or seven quarters. The three-year-old company has raised $58 million in funding, and has operations in England, India, Germany, Japan, South Korea, Australia and New Zealand, among other countries. Actifio has 150 employees, 65 of them in Boston, and several open positions in engineering, marketing and other areas.
"We're in hardcore scaling mode," Troiano said.
Troiano calls Actifio's product "Time Machine for the enterprise," referring to Apple Inc.'s backup software. Actifio's service handles and simplifies a business' backup, snapshot and disaster recovery needs, and streamlines them with a consumer user interface, Troiano told me. To that end, the company plans to release an iPad app by the end of the year.
"It's going to be pretty sweet," Troiano said.
Brendan Lynch is a journalist and contributor to VentureFizz. You can follow him on Twitter (@bmolynch) by clicking here.
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