Code42 Releases CrashPlan 5.0 With Legal Hold App And Enhanced Data Migration Functionality

Endpoint data security leader Code42 today announced the launch of the fifth generation of its CrashPlan platform. The latest release facilitates streamlined and accelerated data migration to end user devices to ensure the protection of end user data during the data migration process. Streamlined data migration reduces downtime related to the transfer of files across end user devices and results in faster backups and recovery processes. The latest release also features a revamped user interface and enhanced reporting that gives IT administrators access to a holistic vision of infrastructure performance within an ecosystem of connected devices. In addition, version 5 of the platform features a legal hold application that renders it easier for organizations to secure protected data in the event of concerns about endpoint security or data breaches. Version 5.0’s legal hold functionality empowers organizations to execute their data governance and data security policies without having to resort to cumbersome and often ineffective practices such as the collection of end user devices. The conjunction of streamlined data migration functionality, enhanced reporting and the availability of a legal hold application marks a significant milestone in the evolution of Code42’s enterprise endpoint backup and security platform that bolsters its ability to serve the needs of enterprise customers. Release 5.0 of Code42 CrashPlan comes soon after the company’s raise of $85M in Series B funding that validates the intensity of customer interest in solutions dedicated to protecting endpoint security beyond the firewall and the corresponding proliferation of enterprise data on end user devices. Given the nexus of Code42’s capital raise and its latest release, expect Code42 to continue staking out its foothold in enterprise endpoint security and business continuity, particularly as usage of Macintosh devices continues to skyrocket within enterprises in conjunction with the growing heterogeneity of end user devices more generally.

Code 42 Software Finalizes $52.5 Million Funding Raise Led By Accel Partners Big Data Fund

Code 42 Software, provider of online backup solutions for consumers and enterprises, finalized a capital raise of $52.5 million from Accel Partners and Split Rock Partners. The capital raise represents Accel’s first investment out of its $100 million fund for Big Data companies. Founded in 2001, Code 42 Software has been profitable for the last three years as reported by GigaOM. The Minneapolis-based company’s products include Crash Plan for consumers, Crash Plan PRO for small businesses and Crash Plan PROe for enterprises. Co-founder and CEO Matthew Dornquast noted that the funding raise was unusual given the profitability of the company, which had bootstrapped its financing in the initial years of its operation. The funding will be used to grow the business globally and add additional features that render it easier for users to more effectively search and manage access privileges to their online backup repositories. Currently, Code 42 manages more than 100 petabytes of data and backs up 250 million new files per day. Although Accel had been pursuing Code 42 for two years, the company finally decided to take in the funding raise upon recognizing possibilities for enterprise level business intelligence analytics on files shared between devices and within an ecosystem and the market opportunity to expand globally. Code 42 competes with the likes of Carbonite, Mozy, Iron Mountain, Box.net and Dropbox. The company currently has more than 4000 enterprise customers including Adobe, Google, Groupon, HP, Intuit, Kraft Foods, LinkedIn, NASA, National Geographic and Salesforce.com.