Data recovery solutions developer Axxana Inc. has raised $9 million in its second financing round. Carmel Ventures led the round, and was joined by Axxana’s current investors Gemini Israel Funds and private investor Moshe Yanai.
Axxana will use the proceeds to market its Phoenix System black box enterprise data recorder. The company claims that this product is the first product with 100% data disaster recovery with zero data loss over any distance. The company unveiled the Phoenix at the EMC World 2009 exhibition in May.
In May, Axxana said that it was working with EMC to test the Phoenix System with EMC products. The Phoenix System was developed in parallel with Recover Point, a system developed by Israeli start-up Kashya, which EMC acquired in 2006 for $153 million and now forms the core of EMC’s R&D center in Israel.
Axxana is headquartered in Tel Aviv and has an office in the Boston suburb of Newton. The company was founded by CEO Eli Efrat, CTO Dr. Alex Winokur, and VP business development Dan Hochberg, all veterans of the data storage industry.
Efrat said, “This round of investment demonstrates continued confidence in the strength of our technology and its enormous market potential. 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 small and mid-sized enterprises and large enterprises no longer have to compromise their disaster recovery solution.”
Published by Globes [online], Israel business news – www.globes-online.com – on November 18, 2009