Backblaze nets $5M to boost cloud backup
Grazed from GigaOM. Author: Barb Darrow.
Backblaze, the 5-year-old company that backs up everything on your PC for $5 per month, has snagged $5 million in funding from TMT Investments, an investment house out of the U.K.
San Mateo, Calif.-based Backblaze will use the money to staff up and expand its marketing efforts — and attack the masses of people who still do not back up their computers, CEO Gleb Budman said in a recent interview. Backblaze competes most directly with Mozy, now owned by VMware (via EMC) and Carbonite.
Taking outside money was not done lightly. The company was bootstrapped for its first year and a half and then it took in $390,000 in seed money. The company has been profitable since the early days, Budman said…



HP today introduced new offerings that improve visibility into the relationship between software and physical, virtual and cloud IT infrastructure, enabling organizations to reduce complexity and take control of their IT processes and services.