Datavail said it received $4.25 million in Series C funding from new investor Meritage Funds and existing investors Boulder Ventures and Montis Capital. The money will fuel expansion at the database services company.
Datavail Raises $4.25 Million in Growth Equity Funding
Round C financing led by new investor, Meritage Funds and supported by existing investors: Boulder Ventures and Montis Capital
Broomfield, Colo. — Sept. 6, 2012 — Datavail, one of the largest providers of remote database administration (DBA) services in North America and the largest remote managed services provider in the Rocky Mountain region, has received $4.25 million in growth equity funding from new investor, Meritage Funds, with support from existing investment firms: Boulder Ventures and Montis Capital. This third round of financing will support Datavail’s long-term vision of becoming one of the largest database services companies in the world.
“We are pleased to add Datavail to the Meritage growth equity portfolio,” said Ryan Pollock, managing director of Meritage Funds. “Mark Perlstein and his team have built a world-class company with a market leading solution and Datavail is quickly becoming the leader in the DBA services space in North America. I look forward to working with Mark and the rest of the Datavail Board to continue the strong growth the company has recorded.
Datavail has imminent plans to expand operations in the northeast region to service New York, New Jersey and Philadelphia markets, and will hire new employees to support this geographic growth. In addition to extending its footprint, Datavail will earmark funds to support new marketing initiatives, internal infrastructure projects, and research & development efforts as the company continues to develop new products that provide customers with greater database management efficiencies.
“Our performance as a team, and the success we have generated by working together, are the reasons we were able to complete this financing,” said Mark Perlstein, President & CEO, Datavail. “We have proven we can execute, deliver results and sustain growth which led to this new relationship with Meritage, one of the Denver area’s most respected and experienced private equity firms. We look forward to working with the Meritage team and our existing investors who also participated in this financing.”
In July 2012, Datavail announced its acquisition of Seattle-based Blue Gecko. In August, Datavail was included on the Inc. 5000 list of the fastest growing private companies in America. Datavail ranks number 1,842 out of 5,000 companies and 35th among the 89 metro Denver companies that made this year’s list.
About Datavail Corporation
Datavail Corporation is one of the largest providers of remote database administration (DBA) services in North America, offering database design and architecture, administration and 24×7 support. The company specializes in Oracle, Oracle E-Business Suite, Microsoft SQL Server and MySQL, and provides flexible onsite/offsite, onshore/offshore service delivery options to meet each customer’s unique business needs. Founded in 2007, Datavail is based in Broomfield, Colorado and supports enterprise clients located worldwide. For more information, visit www.datavail.com.