StrongBox Data Solutions, a provider of Cognitive Data Management and Archive solutions, has closed a US $27 million investment round led by Fonds de solidarité FTQ which invested US $20 million. Additional funding came from StrongBox controlling shareholder, Partner One Capital/Partner One Software Inc.
The investment was structured [mepr-active rule=”374″ ifallowed=”hide”]★Subscriber ONLY content: read our research and get insight on this and other deals. We offer monthly or yearly recurring or one-time trial subscriptions. Subscribe today and see what you have been missing! ★[/mepr-active][mepr-active rule=”374″] as direct investment by Partner One Software Inc. into StrongBox Data Solutions. Fonds de solidarité FTQ indirectly invested in StrongBox Data Solutions through its investment in Partner One Software Inc. Partner One Software is controlled by Dan Charron, with Fonds de solidarité and Nicole Charron ranking as second and third largest shareholder.[/mepr-active]
The investment will be used to accelerate worldwide expansion of StrongBox’ StrongLink.
StrongLink leverages the power of metadata and machine learning to deliver the first solution to automate storage and data management across multi-vendor storage environments. StrongLink simplifies the complexity of data protection and management, seamlessly connecting any storage and cloud including typically incompatible storage.
“StrongLink introduces machine learning, artificial intelligence and powerful analytics to provide a global, vendor-neutral solution for large data environments,” says David Cerf, CEO of StrongBox Data Solutions. “The investment by the Fonds de solidarité FTQ validates the global response from our customers who have discovered that StrongLink can reduce storage costs and operational complexity. Driven by metadata, StrongLink provides a cross-platform global namespace for complete control of data and storage resources.”
“With its strong management team and its proven track record, StrongBox Data Solutions has developed a unique technology that answers market needs, said Alain Denis, Senior Vice-President, Innovation and Agri-food, at the Fonds de solidarité FTQ. “This investment fits perfectly with our desire to support innovative companies that will build tomorrow’s economy.”
“The fact that an institutional investor such as the Fonds de solidarité FTQ has placed its confidence in StrongBox Data Solutions and StrongLink is a tremendous vote of confidence for us and a true demonstration of the success we are having in the marketplace. The support of such a major investment firm gives us the ability to increase worldwide deployments, which have already proven very successful at major customer sites across the globe,” added Cerf.
photo credit: StrongBox Data Solutions