February 09, 2004
VaultLogix, the industry’s premier Internet Vaulting Provider (IVP), announced today that it has named an industry leader and venture capitalist to the Board of Directors. Mark Munro, president of New Jersey-based Venture Capital firm, Broadmoor Capital, will accept a seat on the board, effective May 1, 2004. Munro’s investment firm has provided VaultLogix with venture capital funding, which will aid future growth plans and additional product offerings for the company.
“We are happy to welcome our new board member and the expertise that he brings with him,” says Tim Hannibal, President & CEO of VaultLogix. “His decade of experience with mergers and acquisitions, as well as his successful track record with growing private and public companies, will be invaluable as VaultLogix positions itself for expansion in the upcoming months.”
Mark Munro is currently the managing partner for Broadmoor Capital, where he is instrumental in directing investment decisions and assisting businesses with growth and strategy. Prior to Broadmoor Capital, Munro was the Founder, President & CEO of BiznessOnline.com (Nasdaq: BIZZ), an internet and telecommunications service provider. In addition, Mark was the Founder, CEO & President of Eastern Telecom where he successfully guided the company through ten high growth years and managed its sale to Pentastar Communications. He has nearly twenty years of senior management experience within the technology industry.
VaultLogix specializes in offsite data backup for businesses searching for affordable and efficient data protection. The company’s customized products protect critical business data by transporting it in encrypted form to a secure, online data vault. VaultLogix’s fully redundant data vault allows for restorations 24 hours a day, 7 days a week.