Investment has been completed on Dec 10, 2020
- Net profit
- −100%
Actifio is a leader in backup and disaster recovery.
In May 2020 Actifio implemented a reverse stock split ratio of 100,000 to 1.
Unfortunately, the investment had to be closed in December 2020 with a result of -100%. Now Actifio is part of Google Cloud.
About
Actifio software empowers hundreds of large companies around the world, such as Unilever, IBM, Netflix, to virtualize data management and storage.
Actifio products can reduce unnecessary duplication of data. Its software platform cuts down IT infrastructure costs, boosts resilience against cyberattacks and accelerates digital business.
The company was founded in 2009 in Waltham, Massachusetts, by entrepreneur Ash Ashutosh (previously worked in HP) and David Chang. Actifio now serves 3,700 corporate clients across 38 countries.
Since its inception, Actifio has raised $311.5M in funding from Andreessen Horowitz, Tiger Global and other funds. In August 2018, the company reached the unicorn level (the capitalization reached $1.3B).
In 2020, the company has signed several seven-figure deals, some of them in the regions hit hardest by COVID-19 (Italy, the U.K., New York). Actifio's strategic partners are IBM, TCS, Dell Technologies and Google Cloud Platform.
Market
As business becomes more digitized, so is enterprises’ awareness to make their data more secure. MarketsandMarkets estimates that the global Big Data as a Service (BDaaS) market size is expected to grow to USD 42.7B by 2024, at a CAGR of 30.5% during the forecast period.
In the spring of 2020, Actifio was selected as one of the top cloud companies by The Channel Company and was named one of the 12 Data Protection Companies 2020. Annual ‘Elite 80’ list includes Actifio for the fourth straight year. The list features “the hottest, most strategically positioned private companies in the cybersecurity, data management and IT infrastructure industries”.
Details
Our team invested in Actifio in February 2019 at $7.5 per share.
A reverse stock split ratio initiated by Actifio meant that for every 100,000 shares their owner got only one share. If a shareholder had fewer than 100,000 shares, he would receive money for his shares.
Actifio set a "fair value" per share at $0.24. So an owner of 10,000 shares (before the split) would receive $0.024 for his securities.
Actifio’s reverse split was implemented in compliance with legal procedures, and unfortunately the investment had to be closed in December 2020 with a result of -100%.