Storage management services firm Arsenal Digital Solutions Worldwide Inc. has locked and loaded $10.5 million in fourth-round funding, with which it plans to broaden its disaster-recovery offerings for large enterprises (see Arsenal Stashes $10.5M Round).
Investors in the round, which brings the company's total funding to more than $63 million, include Covestco, Southeast Interactive Technology Funds, and Southern Cross Capital.
Frank Brick, Arsenal's president and CEO, says the Cary, N.C.-based company was already on track to be cash-flow positive in 2003 but sought additional capital to "roll out a little bit more aggressive plans" -- which include introducing new business-continuity services and signing up more channel partners.
In the second quarter of this year, Arsenal plans to introduce a suite of three additional services for disk replication, disk vaulting, and business continuity.
"Historically, we've been focused on providing storage management services in hosted IDC [Internet data center] environments," Brick says. "The services we're going to be launching in Q2 will be for storage not hosted in data centers." For example, he says, for customers that have only one data center, Arsenal plans to offer data mirroring services to an off-site "hardened" facility so they always have a second copy available for fast restore.
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