March 22, 2004
VaultLogix, the industry’s premier Internet Vaulting Provider (IVP), announced today that it has secured venture capital financing from a New Jersey-based Venture Capital firm, Broadmoor Capital. The investment will launch future growth plans in the Northeast region and support the roll-out of additional products.
“This funding is extraordinary for our business plan,” says Tim Hannibal, President & CEO of VaultLogix. “We believe this new funding will propel our company forward in the industry and position us for continued growth and success in the marketplace.”
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.
” Vaultlogix is a solid company with an innovative and applicable technology that has potential for significant investment returns,” said Mark Munro, managing director for Broadmoor Capital. “Data protection is not only interesting and exciting, but also there is an proven market need for this innovative solution.”