Datavail Corp. raises $4.25 million
Datavail will use the investment to further its expansion into the New York, New Jersey and Philadelphia markets and hire new employees, the company said in a release Thursday. Datavail also will use the investment to boost new marketing initiatives, internal infrastructure projects and research and development.
Datavail, which was founded in 2007, designs and administers remote database systems. In July, it acquired Seattle-based Blue Gecko Inc., a remote database administration company with a large presence in the Pacific Northwest.
Meritage Funds, a Denver-based private investment company, led the round. Boulder Ventures, a Boulder-based venture capital firm, and Montis Capital, a Boulder-based private equity firm, are prior Datavail investors who increased their investment, according to the company.
According to SEC filings, Datavail has raised $11.6 million in its three funding rounds.
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