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NewswireTODAY - /newswire/ -
Larnaca, Cyprus, 2014/12/02 - ArCycle, the virtualized storage’s backup and replication solutions company, announces closing of the round “A” funding investment from Altair Capital with participation from Almaz Capital - ArCycle.com.
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“We have been developing the product for quite a period of time and have a very comprehensive solution even compared to the leading competitors on the market”, Max Melkov (CEO of the company) says, - “Now with VC capital we hope to change the competition landscape on the virtualization DR market in a short period of time”.
According to Igor Ryabenkiy (Managing partner of Altair),“We believe in ArCycle because Mr. Melkov and the team he brought together have a great deal of experience in the development of specialized backup and data protection software for physical and virtual environments. We hope to see the business grow very quickly”.
About ArCycle
ArCycle Software (arcycle.com) is a privately held data protection start-up that provides SMBs and enterprises with backup, replication, and disaster recovery solutions that are adapted specifically to virtualization environments. ArCycle Software products include a mix of proprietary virtualization-native technologies and proven data protection features.
About Altair
Altair Capital is a venture capital company investing in early/seed stage Internet/mobile tech startups. Altair has extensive investment experience in USA, Israel, Europe, and Russia. Altair takes a leading investor role, mentors startups, and provides operational support when necessary.
About Almaz Capital
Founded in 2008, Almaz Capital invests in early stage, capital efficient technology companies. The team connects entrepreneurs and engineering talent in untapped emerging tech regions working in high-growth sectors such as enterprise and cloud computing, mobile, internet infrastructure and services, data storage and management, and ecommerce. The fund's investors include Cisco, the European Bank for Reconstruction and Development (EBRD), and International Finance Corporation (IFC), a member of the World Bank Group. The following companies are among Almaz Capital's realized exits: nScaled acquired by Acronis in 2014; Vyatta, acquired by Brocade in 2012; Qik, acquired by Skype in 2011; and Yandex, IPO 2011. Recent investments include: Starwind Software; Cinarra funded along with Cisco; If You Can funded along with Greylock Partners; Nival; GridGain; and Sensity, funded along with Radar Partners and Mohr Davidow Ventures.
ArCycle Software and the logos are trademarks and/or registered trademarks of ArCycle Software Ltd in the U.S. and other countries. Other names are trademarks and/or registered trademarks of their respective owners.
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