Contact Information: Media Contact Hila Shitrit Nissim Marketing and IR Associate Carmel Ventures Tel: +972 9 972 0421 hilas@carmelventures.com
Axxana Secures $9 Million Series B Funding Led by Carmel Ventures
| Source: Carmel Ventures; Axxana
HERZLIYA, ISRAEL--(Marketwire - November 18, 2009) - Carmel Ventures announced today that it
has led a $9 million Series B investment in Axxana. Axxana's existing
investors, Gemini Israel Funds and the serial entrepreneur Moshe Yanai,
also participated in the round. The funds will be used to accelerate the
adoption of The Phoenix
System™ -- the first "Black Box" Enterprise Data Recorder (EDR).
Ronen Nir, partner of Carmel Ventures, joined Axxana's Board of Directors.
Axxana was founded by Alex Winokur, Ph.D., Eli Efrat and Dan Hochberg,
veterans of the data storage industry, to address the number one challenge
in data protection: recovering data with zero data loss over any distance.
Axxana's first EDR
(Enterprise Data Recorder) product, the Phoenix System RP, was demonstrated
at EMC World in May 2009.
"Axxana's EDR brings a disruptive solution that is well poised to transform
the entire storage replication market and create a whole new category
within it," said Ronen
Nir, Partner at Carmel Ventures. "We are impressed with Axxana's strong
founding team and their achievements so far, including impressive
endorsement by leading storage vendors worldwide. We look forward to
joining their existing investors in supporting Axxana to become a leader in
this fast growing market."
"This round of investment demonstrates continued confidence in the strength
of our technology and its enormous market potential," said Eli Efrat,
Axxana's CEO. "It is a significant validation of our business strategy and
product roadmap. The ability to provide organizations with zero data loss
over any distance, combined with an affordable price tag, ensures that SMEs
and large enterprises no longer have to compromise their disaster recovery
solution."
Axxana's first product to the market is the Phoenix System RP,
which is the only product to enable 100% disaster recovery with zero data
loss (RPO=0) over any distance, for significantly less than the cost of
traditional data mirroring alternatives. The Phoenix System RP complements
the asynchronous replication solution offered by EMC's RecoverPoint.
About Carmel Ventures
With over $600 million currently under management, several successful
exits, and a growing portfolio of promising start-ups, Carmel is among
Israel's top-tier venture capital funds. Carmel's investments are focused
primarily on early stage companies in the fields of Software,
Communications, Internet, Digital Media, Semiconductors, and Consumer
Electronics. Founded in 2000 by pioneers and leaders of the Israeli high
tech industry, Carmel provides significant capital and active, hands-on
support through the growth cycle of its portfolio companies and is
recognized as a true company building fund in Israel. Carmel, headquartered
in Herzliya, Israel enjoys a worldwide network of industry, strategic and
investment resources.
Carmel is an affiliate of the Viola Partners Group, a leading innovative
private equity investment group with close to $2B under management focused
on technology-based investment opportunities in Israel. For more
information, visit www.carmelventures.com.
About Axxana
Axxana was founded by
veterans of the data storage industry to address the number one challenge
in data protection -- recovering data with zero data loss over any
distance. Axxana's disaster recovery solution represents a new domain in
data protection: Enterprise Data Recording (EDR). Serving enterprises
around the world and working in close conjunction with some of the most
prestigious names in the data storage industry, Axxana has introduced a
solution that will alter the economics behind data protection and disaster
recovery. Axxana is a Delaware Corporation and maintains offices in Newton,
MA and Tel Aviv, Israel. For more information visit www.axxana.com