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FOR IMMEDIATE RELEASE
DATAUPIA SECURES $16 MILLION IN SERIES B FUNDING
Funding to Support Future Product Enhancements; Expansion of Services
Cambridge, Mass. - November 5, 2007 - Dataupia Corporation today announced that it has secured $16 million in Series B financing. The round was led by Fairhaven Capital and includes previous investors Polaris Venture Partners and Valhalla Partners. Dataupia will use the new monies to fund future product enhancements and expand support services.
Organizations today are dealing with massive volumes of data, which are continuing to grow at unprecedented rates. Data management systems play an important role in enabling companies to increase business performance and agility. Dataupia launched the Dataupia Satori Server in May 2007 to meet market demand for a cost-effective, scalable all-in-one data warehouse appliance that easily integrates into an organization's existing infrastructure. The Dataupia Satori Server provides deeper access to data across all levels of an organization while increasing the value that can be obtained from that data. With Dataupia, companies can use their data in new ways to achieve greater business agility and make better informed decisions.
"There is no question that the data warehouse appliance market is experiencing growth at a rapid rate," said Richard Grinnell, Managing Director of Fairhaven Capital. "Dataupia has made excellent progress since it has launched, including the addition of multiple OEM customers and a notable partner program. The unique strategy and product offering are clear differentiators that position the Company for continued success. Dataupia is addressing a real business need in that market with its data management system, and this funding will enable the Company to further enhance its offering."
"This round of funding is another step toward executing Dataupia's vision," said Foster Hinshaw, CEO, Dataupia. "Maturing data warehouse appliances have shifted market demands. From ever-changing compliance laws to improving customer service, today's data warehouse appliances must be flexible, scalable and extremely cost effective. Dataupia addresses these needs in a way that is unique to the enterprise and results in a better competitive advantage."
Dataupia brings a strong record of industry leadership to addressing the growing gap between the massive volumes of stored data and the portion that a business can use to its benefit. By architecting specialized software and industry-standard hardware into a highly cost-effective and intelligent appliance, Dataupia's solution will amplify an organization's existing information systems to provide deeper access into their data universe and more comprehensive business insight.
Founded in 2005, Dataupia is backed by Polaris Venture Partners, Valhalla Partners, and Fairhaven Capital. Learn more at www.dataupia.com.