Avamar Raises $15M

Irvine-based Avamar Technologies has raised another $15M in venture funding. The company said yesterday that funding came from Morgan Stanley Venture Partners, with participation from existing investors Lightspeed Venture Partners, Goldman Sachs, Benchmark Capital, and CMGI@Ventures. The company said that the funding would be used to ramp its sales and marketing efforts. Avamar develops disk-based data protection and backup products, and has raised at least $55M in venture capital. More information »