Code42 Series B Funding

Let’s dive a little deeper into our announcement regarding our Series B funding. Why is it significant, and what will it mean for our customers?

JMI Equity and NEA are our newest investors, leading this round of funding. JMI is an American growth equity firm focused on investing in leading software, Internet, business services and healthcare IT companies such as Kronos, Seismic, and Workfront. NEA is focused on investing in early-stage companies in information technology, medical and life sciences. Their portfolio includes NGINX, salesforce.com, TrackMaven and Tableau Software. That’s a pretty impressive list of brands, and we’re proud to be counted among them. It means our success has been recognized by experts who know the difference between short-term growth and a sustainable, achievable vision for a business.

You’re probably curious about how this affects our customers. This new funding will allow us to make the key investments needed to grow our business, and develop the tools you need to solve the data protection challenges faced in your work as an IT or security professional. But there’s more: once all your data is secured, what can it tell you? There’s knowledge in all that data that could unlock new levels of productivity across your organization. We’re already at work on ways to help you find actionable insights in your data, while keeping it secure.

In the words of Harry Weller, general partner at NEA, “Code42 customers’ backup archive is a unique asset nobody else in security has: all the data. As a result, the company has an opportunity to build a leadership position in unlocking the forensic and analytical value of that data.”

Bottom line: this funding builds on our already phenomenal success, and positions us for even greater achievements.

If you have any questions about Code42, or what we can do for your business, I'd be happy to connect.