Datto Raises $75 Million in Series B Funding

Datto has secured $75 million in a Series B funding round led by Technology Crossover Ventures (TCV), bringing its total financing to over $100 million. 

The Norwalk, Connecticut-based backup and disaster recovery (BDR) solution provider said it will use the Series B funding to “continue to invest in its global expansion and to accelerate product innovation to support its thousands of partners worldwide.”

“Datto isn’t raising capital to fund operations, but instead, to enter new markets and build new products and technology,” said Datto CEO Austin McChord in a prepared statement. 

So what should managed service providers (MSPs) expect from Datto moving forward? 

McChord noted that Datto will “be pushing ahead to build new technology and improve the experience for [its] MSPs and end users around the world.”

Datto adds to its board of directors

Datto has added three members to its board of directors, including:

Datto currently manages more than 160 petabytes of data and more than 1 million backups a week for its customers and continues to grow.

The company reported 57 percent year-over-year growth in the second quarter of this year and opened an Australian headquarters in Sydney earlier this month.

In addition, in September Datto expanded its technical support for its MSP partners and end customers.

Datto also made several announcements at its Partner Conference in June, including a Linux Agent for its BDR backup platform, a Microsoft Office 365 backup solution and a cloud-based router with 4G failover capabilities.​

What are your thoughts on Datto? Share your thoughts about this story in the Comments section below, via Twitter @dkobialka or email me at [email protected].