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Cloud recovery service startup Axcient gets new funding

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February 18, 2015

Cloud recovery service startup Axcient has recently agreed to get new funding and now the company aims to fully compensate its SaaS-selling channel partners up front.

To be sure, Axcient offers Recovery-as-a-Service (RaaS) from the cloud and has completed a $25 million E-round funding exercise, taking some total funding up to $89.2 million.

Silver Lake Partners provided significant debt financing in the round. The latest $25 million will be used to help compensate channel partners when they get a sale instead of during the duration of the SaaS contract.

This program is called SaaS:FLO (Software-as-a-Service: Front-Loaded Option). It will also go towards the near-doubling of Axcient's R&D team, and growth in its sales and marketing headcounts.

Axcient has had its confidence boosted somewhat by experiencing more than 50 percent growth in total new customers signed last year, according to the company.

It added that analysts "expect the RaaS market to explode over the next several years, projecting a compound annual growth rate of 56 percent."

CEO Justin Moore said-- "Under this new program, VARs make their margin day one as opposed to over time, enabling them to successfully deploy SaaS, make significant margin upfront, and compensating their sales reps without having to change their business model."

"I expect we’ll see more companies look to private equity underwriters to finance a similar program in the coming years,” he added.

The company says its Business Recovery Cloud mirrors a customer’s entire business in the cloud, including emails, files, applications, operating systems and all the interconnected network elements.

Its sales pitch is that its service simply means "IT operations never go down." Customers can use Axcient's BRC to replace legacy backup systems, server replication, disaster recovery and archiving products with a single integrated platform.

Would you trust your entire IT infrastructure's availability on Axcient's service? The more Axcient can persuade customers that this is true, the better it should prosper. But time will tell, since companies are usually cautious to whom they entrust their whole IT systems.

Source: Axcient.

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