Data Dynamics secures $9 million in funding to accelerate growth of its unified unstructured data management platform
Data Dynamics, a Teaneck, New Jersey-based tech startup and a provider of unified unstructured data management platform, today announced it has recently closed on a $9 million financing round to support its strong product traction and market adoption. The round was led by DH Capital, LLC, an investment banking firm serving companies in the internet infrastructure, communications, and software sectors.
Founded in 2012, Data Dynamics is a provider of file management solutions that enable enterprises to analyze, move, manage and modernize data assets across hybrid, cloud and object-based storage infrastructures. The company’s Unified Unstructured Data Management Platform, comprised of StorageX and Insight AnalytiX product offerings, provides customers a single, comprehensive platform to modernize, manage, and secure their data. StorageX eliminates vendor lock-in and provides a policy-based, storage management platform to empower your business with insight, agility and operational efficiency.
Data Dynamics is the pioneer of unified unstructured data management software. With more than 350 customers around the world, Data Dynamics enables organizations to analyze, manage, move, and modernize their data anywhere. Data Dynamics accelerates the adoption of hybrid, public, and multi‑cloud strategies, builds higher quality SLAs, and improves business process modernizations.
Data Dynamics is used and deployed in over 25% of the Fortune 100, helping drive hundreds of millions of dollars in cost savings and risk mitigation. In a public release, Data Dynamics said it will use the new funding proceeds to scale its sales and marketing teams, and expand its product portfolio.
“Enterprises are challenged daily with finding an effective means to manage data sprawl while mitigating risk associated with exposure of sensitive information. With the release of StorageX 8.2 and Insight AnalytiX 1.1 as part of our new Unified Unstructured Data Management Platform, we are able to offer our customers a value proposition that they cannot find with any other provider – an all-in-one data management solution that provides data-driven actionable insights, reduces storage costs, and ensures the compliance and governance of sensitive content,” said Piyush Mehta, CEO of Data Dynamics. “This new capital will allow us to innovate faster to further expand our market leadership position and increase our customer reach to meet the needs of enterprises globally. I am so proud of our team and excited to leverage the capital to drive a new era of growth for the company.”
DH Capital, LLC, an investment banking firm serving companies in the internet infrastructure, communications, and software sectors, organized this round of investment in Data Dynamics. “We are pleased to support Data Dynamics as the company continues to prove its ability to execute against its strategic product roadmap and hire the right individuals to lead the way,” said Joseph Duggan, Chairman and Co-Founder at DH Capital. “Data Dynamics is well-positioned to assist large enterprises with managing their ever increasing volume of unstructured data and the increased regulatory scrutiny around data privacy. We look forward to partnering with Piyush and the entire Data Dynamics Team.”