Acunu secures new investor as total fundraising hits £6.6 million
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Capital markets-listed technology investment firm Imperial Innovations has taken part in a funding round for data storage business Acunu.
Acunu has secured £3.6 million of investment from a pool of backers including Imperial Innovations, Eden Ventures, Pentech Ventures and Oxford Technology Management.
The data storage company is receiving £1.25 million from new investor Imperial Innovations, marking the third time Imperial has backed a Cambridge technology company, with the balance being picked up by its existing backers.
Founded in 2009 by Tim Moreton and Tom Wilkie based on a set of algorithms and open source code developed at Cambridge University Computer Lab, Acunu will use the cash raised to develop its product market positioning and increase its sale team.
Prior to closing the deal Acuna brought in new CEO and president Chris Gomersall, formerly vice-president for EMEA at ServiceNow and Polyserve, to help with the next stage of company growth.
Gomersall adds, 'This successful funding round is a great boost, enabling us to drive sales and marketing effectively.'
Acunu's past fundraising efforts have seen the business secure £800,000 of seed capital from Eden, Pentech and Oxford Technology Ventures in July 2009 and a further round involving the same three investors worth £2.2 million in January 2011.
Susan Searle, CEO of Imperial Innovations, comments, 'This is an exciting opportunity to back a fast growth business with a strong commercial team.
'Acunu is addressing the issues that the growing volume of big data creates and their products offer real solutions for business.'
Imperial Innovations raised £140 million in January 2011, and in the year to 31 July 2011, invested £35.1 million (2010: £14 million) in 23 ventures, and launched six new companies.