Carbonite Generates Press From Recent Announcements

by Lynnette Nolan | Sep 16, 2008

Carbonite recently announced the completion of our Series C financing and a major deal with Lenovo. These two announcements generated some great press. But, there are two articles in particular that we wanted to share with you.

In an article that appeared in Mass High Tech, Christopher Calnan reported:

Online backup provider Carbonite Inc. recently closed its second bundling deal with a major personal computer manufacturer and followed that up last week by closing a Series C round of financing.

Boston-based Carbonite closed an agreement to provide free four-month online backup service subscriptions for the Ideapad line of desktop and laptop computers made by Hong Kong-based Lenovo Group Ltd., CEO David Friend said.

In June, Carbonite reached a similar agreement with Netherlands-based Packard Bell BV for the PC maker to bundle subscriptions for purchasers of Packard Bell desktop and notepad computers in Europe. Lenovo officials declined to confirm the deal with Carbonite.

Although Friend would not disclose the specifics of the Series C financing, he expects it to be enough to fuel Carbonite before it completes an initial public offering.

"That's the next step," Friend said. "The projections show that it will be the last cash we'll need. (Carbonite is) the type of company that should go public."

Shortly after, Xconomy reporter, Wade Roush published an article entitled "Carbonite Puts Its Online Backup Software on Lenovo Computers, Raises $20 Million" in which he notes:

Last Wednesday, the Mozy division of Hopkinton, MA-based EMC (NYSE: EMC) announced that its software will power an online backup service available to buyers of Thinkpad SL notebook computers, the newest line of business laptops from Lenovo. Not to be outdone, Boston-based Carbonite is expected to announce soon that it has formed an even broader partnership with the Chinese computer maker: All Lenovo IdeaPad and IdeaCentre computers—the company’s lines of home and home-office laptops and desktops, respectively—will now come with Carbonite's online backup software pre-installed.

At the same time, Carbonite is about to announce formally that it has closed a $20 million financing round, the third since the company's founding in 2005. (It raised $2.5 million in Series A funding in February, 2006, and completed a $15 million Series B round in May, 2007.)

Both of these articles attest to the fact that online backup is becoming mainstream. At some point in the future, we hope online backup is as common, and as top-of-mind, as anti-virus software is today.