Caringo, a US-based provider of software-defined data storage services, has been acquired by data storage provider DataCore Software for an undisclosed amount, allowing telecommunications firm Vodafone to exit.
Founded in 2005, Caringo has developed a software platform that enables enterprise customers to protect, manage and share their data files, helping to guarantee data integrity and eliminate dependency on hardware.
The company’s platform has been used by organisations such as television subscription provider BT Television, the US Department of Defense and Disney Streaming Services, the streaming technology subsidiary of media and entertainment conglomerate Walt Disney Company.
DataCore said it purchased Caringo to complement its offering of data storage services and capitalise on the talent and expertise at the company.
Dave Zabrowski, CEO of DataCore Software, said: “With our acquisition of Caringo, we are excited to offer a proven, highly reliable object storage technology with an unmatched breadth of features to IT departments, service providers and government customers worldwide.”
Vodafone’s corporate venturing unit, Vodafone Ventures, joined venture capital firm Austin Ventures to provide an undisclosed amount of funding for Caringo in 2008.
The company then received $5m of funding from undisclosed private investors and two Texas-based institutional investors in 2010, adding $5m from unnamed investors in 2014 and $5.3m in 2016, according to regulatory filings.
Caringo then raised $8.8m from New Science Venture and Advantage Capital Partners later in 2016 before securing a further $3.4m in 2018, according to another securities filing.