US startup database management company Rainstor has concluded a $12m Series C round led by asset management company Credit Suisse and Canadian telecommunications company Rogers Communications via their corporate venturing unit Rogers Ventures Partners.
Returning investors include venture capital firms Doughty Hanson Technology Ventures and Storm Ventures along with industrial chemical mannufacturer Dow Chemical.
This latest round brings Rainstor’s total sum raised to date to over $23.5m.
Rainstor specializes in managing huge amounts of electronic data generated by the likes of financial institutions and telecommunications companies. It’s database solutions are tailored towards data compression and search optimization.
The new funding will be used to accelerate development and engineering, and expand Rainstor’s global sales and marketing teams.
San Francisco based Rainstor, formerly known as Clearspace raised $4m in 2009 from Doughty Hanson, and Dow before changing its name. A year later it’s Series B round concluded in March 2010 at $7.5m, with software data company Informatica, which declined to take part in this latest round, new investor Storm Ventures and Clearspace veterans Doughty Hanson and Dow.