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Datacastle lands $5.3 million to recover data after laptop thefts

By John Cook on November 19, 2008 at 4:12 PM PST

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Software | Startups | Venture Deals

Stolen and lost laptops must be a big business. For the second time this week, we've encountered a Seattle area startup that is doing online backups in part to keep data safe in cases where laptops go missing.

Earlier this week, we introduced EMC-backed Decho and its $4.95 per month online backup service. Today, we've learned of Seattle-based Datacastle, which is announcing $5.3 million in venture financing.

Founded in 2005, DataCastle also announced the appointment of Ronald Faith as CEO and Alex Knight as chairman. Both have been around the block in the Seattle tech industry, with Faith spending eight years at Qpass and Knight previously working at Arch Venture Partners. Gary Sumner, who founded the company and previously served as CEO, will move into the CTO role.

Leading the round was CM Capital of Australia. And speaking of the big opportunity. IDC reports that about 60 percent of laptops are not backed up, meaning if you leave your laptop at the bus stop you are out of luck.

John Cook's Biography

John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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