To say that Minneapolis-based Code 42 Software
is having a good year already is something of an understatement.
In late January, the firm announced that it had secured $52.5 million in venture funding, which will accelerate product development and greatly expand the company's sales and marketing efforts. A few weeks later, the Wall Street Journal published a lengthy, favorable review
of its data backup system, CrashPlan.
"This year has started with a bang, that's for sure," says Code 42 co-founder and CEO Matthew Dornquast. "We're very happy with how it's been going in terms of growth in the past few years."
The company has added about 60 employees within the last year--bringing the total number to 86--and expects to hire more in the months ahead as CrashPlan gains an even broader customer base. In the last three years, Code 42 has experienced more than 500 percent growth.
First offered in 2007, CrashPlan was developed as a way to streamline backup. The company developed multiple versions of the product, targeting home users, private and public cloud creators, small businesses, and large enterprises.
With the new infusion of financing, Code 42 has become the recipient of the largest venture round ever for a private Minnesota-based software company. Now, that's the way to ring in a new year.
Source: Matthew Dornquast, Code 42
Writer: Elizabeth Millard