ORIX Venture Finance, a US provider of expansion capital to mid to venture backed companies, has provided $10m in senior debt financing to Softek Storage Solutions.
Softek regards itself as a leader in non-disruptive, vendor-independent data migration solutions and sees the refinancing as intrinsic in plans to fuel faster growth as it seeks to deliver software for data migrations.
Softek says that its solutions have design to enable customers to see, move and recover data. Softek claims that with its software companies can understand and manage their infrastructures; reduce downtime during data movement from hours to minutes and ensure data recovery for business continuance.
The financing will help Softek as it launches its newest product, its Logical Data Migration Facility launched in partnership with EMC, which enables users to migrate and replicate data at a more granular level than was previously possible with earlier systems.