Data Value leader announces new funding, 10x growth; plans for new offices in Boston, EU and APAC
BOSTON, Oct. 29, 2019 /PRNewswire/ -- GRAX, the leading data value platform, today announced it has raised $12.8 million in Series A financing from Volition Capital. The funding round comes on the heels of the strongest quarter in company history, with revenue up more than 10x compared to the third quarter of 2018.
For more information on GRAX, visit: www.grax.com.
Founded in 2018, GRAX is the new way that businesses preserve, recover and act on their data. Replacing traditional backup and archive tools that miss 99% of all historical changes and store sensitive data in third-party clouds, GRAX captures an irrefutable and recoverable record of every single change that happens to data over time. It allows businesses to keep their backup and archive data in their own storage environment and makes this historical data available for analytics alongside live data. This approach creates a modern, unified data infrastructure that helps organizations meet regulatory requirements and react more rapidly to new patterns that emerge in their business.
"For companies that have sensitive data in mission-critical apps like Salesforce, GRAX is the easiest way to protect that data while making it actionable across the organization," said GRAX CEO Joe Gaska. "A company only captures 1% of all historical changes in its data over time, yet this history is the single most important indicator of new cause-and-effect patterns emerging in the business. We help customers capture 100% of their data history and use it to immediately improve compliance, maximize resiliency and optimize business performance. We're doing this today for some of the most iconic brands in the world."
GRAX customers include a number of the top Fortune 100 and emerging technology unicorns with a rapidly-expanding customer base in Healthcare and Life Sciences, Financial Services, Retail and e-Commerce, Media and Communications, Manufacturing, Cloud Computing, Consumer Packaged Goods, Government and Non-profit.
"We are thrilled to welcome GRAX to Volition's tight-knit community of founders and thought-leaders," said Sean Cantwell, Managing Partner at Volition Capital. "GRAX represents the exact profile of business we love to work with: fast-growing, founder-owned, and tapping into a clear unmet need in the market. We believe the team at GRAX has what it takes to keep up with customer needs and lead the market. We're excited to work with them."
With this capital infusion and having already achieved profitability, GRAX aims to accelerate adoption of its Data Value Platform.
"Your business is talking to you through the data it's generating," said Gaska. "But most companies are drowning in a sea of big data, struggling to find the right cause and effect patterns to tell them where to go next. We're on a mission to help companies find, correlate and act on the right data in their business – so that they can adapt faster and compete smarter in today's economy."
Doubling down on the company's commitment to grow its world-class team, GRAX also unveiled plans to open a headquarters in Boston and regional offices in the European Union and Asia-Pacific regions.
To learn more about this announcement, please visit: https://www.grax.com/post/why-grax-raised-12m-series-a-from-volition-capital-today
GRAX helps you adapt faster by capturing, retaining and correlating every single change in your data over time. It gives you full data custody, while helping you find and act on new cause-and-effect patterns as they emerge in your business. Learn more about GRAX at www.grax.com or follow the company on Twitter @GRAXdv or LinkedIn.
About Volition Capital
Volition Capital is a growth equity firm that principally invests in high potential, founder-owned companies across different technology and consumer sectors. The firm selectively partners with founders to help them achieve their fullest aspirations for their business. Much of Volition's success has come from investing in founder owned, capital efficient companies in sectors such as: enterprise SaaS, consumer e-commerce/brands, tech-enabled services, and transactional applications. For more information, visit http://www.volitioncapital.com.
Chris Shakarian (GRAX)
cshakarian [at] grax.com
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