Datto Inc., the company that provided backups of Democratic presidential front-runner Hillary Clinton’s email accounts, today announced that it had raised $75 million in Series B funding, bringing the total investment in the round to $100 million. Technology Crossover Ventures (TCV) led the round.

The Connecticut-based company, which gained attention when it was revealed in October that it had turned over email data with the Clinton’s consent, was founded in 2007.

Datto, which says it provides a Total Data Protection Platform to safeguard customers’ business data no matter where it resides, on premises, virtual or physical servers or in a cloud-based SaaS application, said it was cash flow positive and would use the funds to expand its geographical reach.

“Since we are cash flow positive, Datto isn’t raising capital to fund operations, but instead, to enter new markets and build new products and technology,” Datto founder and CEO Austin McChord said in a release. “With this new investment, Datto is excited to be pushing ahead to build new technology and improve the experience for our MSPs and end users around the world.”

Ted Coons, general partner at TCV and new Datto board member added: “Cloud-based data protection holds great promise in ensuring information is always accessible and recoverable as more organizations conduct business in the cloud, and Datto has a tremendous opportunity to grow internationally in meeting this need.”

Leave a Reply