FREMONT, Calif. - (Business Wire) QuorumLabs, Inc. today announced it has completed $5.3 million in Series A funding. The investors include a group of insiders which has been instrumental in building successful technology companies, including Sandpiper Networks (acquired by Digital Island), Tekelec (NSDQ:TKLC), Ixia (NSDQ:XXIA), and Orolia (NYSE Euronext:ALORO). The lead investor in Themis Computer, the company that incubated QuorumLabs for three years before spinning it out in 2008, was also the lead investor in QuorumLabs. The funds will be used to expand the QuorumLabs reseller channel, increase the company’s profile, and continue expansion into the U.S. market. On November 3, 2009, QuorumLabs announced onQ™ – a new business continuity appliance that provides instant, One-Click Recovery™ from any storage, server or entire site failure. The onQ solution effectively fills the gap between simple backup and expensive, resource intensive, enterprise-class high availability solutions.
“Companies of all sizes spend billions of dollars each year on backup, online storage, high availability, disaster recovery and business continuity,” said Robert Habibi, president and CEO. “But the SMB (small and medium business) market has been underserved – until now. We’ve built a better mousetrap with onQ, and now we have the funding we believe is required to go out and build a successful business.”
Including the pre-spinout incubation period, QuorumLabs has received more than $10M in funding.
Momentum
All beta customers of the onQ solution have successfully converted into paying, in-production customers. The strong demand from resellers and managed service providers, to offer onQ to their customers, is an endorsement of company’s strategy to address a critical business issue within an underserved market.
About QuorumLabs
QuorumLabs™ develops technologies and products that make business continuity easy and affordable for small and medium-sized businesses. QuorumLabs introduced the industry’s first turnkey business continuity solution that ensures One-Click Recovery. Located in Fremont, California, QuorumLabs was spun out of Themis Computer in 2008. More information about QuorumLabs can be found at www.quorumlabs.com.
QuorumLabs, onQ, One-Click Recovery, and the QuorumLabs logo are trademarks of QuorumLabs, Inc. in the United States and other countries.
Orion Marketing
Mark Richardson, 415-515-4113
press@quorumlabs.com
