QuorumLabs Completes $11 Million in Funding; Hires New CFO

Top Quote QuorumLabs hires new CFO and completes $11 Million in Funding. End Quote
  • (1888PressRelease) January 21, 2012 - FREMONT, CA - QuorumLabs today announced that it has closed $11 million in a funding round led by Airtek Capital Group , and joined by a combination of existing stockholders and new investors in QuorumLabs. The funds will be used primarily to expand the QuorumLabs product and service offerings, further develop the reseller channel, and continue the company's growth in the U.S. and international markets.

    The company also announced the appointment of Martin Bradford as its chief financial officer. Prior to joining QuorumLabs, Mr. Bradford was CFO at InMage Systems, Inc., a developer of disk-based, business application recovery solutions. Mr. Bradford has extensive experience driving company strategy and both private and public financings, and also has a history of identifying and guiding process improvements at companies, which have resulted in significant improvement to bottom line results.

    "QuorumLabs fulfills a need that has long been overlooked by offering customers a simple way to instantly recover entire servers, including all data and applications, with the single click of a button should systems go down," said Larry Lang, CEO of QuorumLabs. "The vote of confidence from our investors and the addition of Martin Bradford allows us to move this opportunity forward to the next level."

    "Our initial investment in QuorumLabs and continued support through this round proves the strong belief we have in the company's continued success," said Laurent Asscher, president and CEO of Airtek Capital Group.

    "I am thrilled to join QuorumLabs and look forward to working with the team to continue to develop company strategies that scale to support our rapidly growing customer base," said Mr. Bradford.

    Since launching in 2009, the onQ Site Recovery System has quickly grown to protect more than 1,000 servers. Unlike other solutions in its class, onQ goes beyond backup by allowing users to instantly recover entire servers with the single click of a button should systems go down - without the complexity or cost of traditional enterprise solutions. onQ is also the only solution that completely automates the disaster recovery testing process, reducing it from a labor-intensive procedure that can take several days to an automatic process that takes mere minutes.

    About QuorumLabs
    QuorumLabs develops innovative technologies and products that provide high availability and instant recovery of critical business systems for small to mid-sized companies. Easily deployed within an hour, QuorumLabs' turnkey solutions allow businesses to routinely and automatically test their recovery plan and recover failed systems with a single click. Located in Fremont, California, QuorumLabs was spun out of Themis Computer in 2008. More information can be found at www.quorumlabs.com

    QuorumLabs, onQ, One-Click Recovery, and the QuorumLabs logo are trademarks or registered trademarks of QuorumLabs, Inc. in the United States and other countries.

    Contact: Cindee Mock, QuorumLabs
    cindee ( @ ) quorumlabs dot com, 650-255-2975

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