ioSafe Inc., the technology leader in disaster-proof hardware, announced today that it has raised $2.50 million of growth capital from California-based private equity investor group, Central Valley Fund II (“CVF”). This capital will allow the Auburn, CA-based company to further expand its disaster-proof product capabilities into the private cloud / network-attached storage (NAS) markets as well as licensing its technology to other data storage companies.
Since ioSafe was founded in 2005, it has used its patented technologies to provide unparalleled physical data security protection against fire, flood, and theft for homes and businesses of all sizes. According to Robb Moore, ioSafe’s CEO and founder, “Physical security of data is often overlooked. Nearly every business has vulnerabilities but still wants the flexibility and accessibility of their data. ioSafe, like an aircraft black box for data, specializes in hardware to help protect vulnerable data wherever it may reside – improving data backup and disaster recovery for its customers.”
“As the rate of data storage growth continues to outpace online bandwidth, the vulnerability of local data persists. ioSafe products uniquely address the physical vulnerability, backup, and disaster recovery of data that is either stuck onsite or waiting to be relocated offsite” says Robb Moore. “We’re excited to have CVF on the team to help propel us into our next phase of growth.”
Ed McNulty, a partner at CVF, stated, “What impresses us most about ioSafe is their strong management team and solid execution which, when coupled with their award-winning hardware products, provides businesses and homes with reliable and cost-effective ways to store and protect data”. Ed McNulty continued, “The rapidly expanding technology sector is driving the country’s economic growth and CVF will continue to focus on serving successful entrepreneurs like Robb Moore to build and operate rapidly growing businesses in California.”
ioSafe is a privately-held company established in 2005 and is headquartered in Auburn, California. Like an aircraft black box for data, ioSafe provides rugged, fireproof, and waterproof hardware and data recovery services as a cost-effective way for both businesses and consumers to protect critical and irreplaceable data. For more information, please visit http://www.iosafe.com