AAA Vodafone-backed Caringo gains further funding

Vodafone-backed Caringo gains further funding

Caringo, a US-based provider of digital storage software, has raised $5m from private sources and two Texas institutional investors.

The company had previously raised money from venture capital firm Austin Ventures and Vodafone Ventures, the corporate venturing unit of UK-listed mobile phone operator Vodafone, in February 2008.

Peter Barry, head of Vodafone Ventures since September, said: "We did not participate in this round, but believe they have great technology and one of the best development teams in this space from the experience of our engineering teams working with them. They have a sizeable deal with Dell which is driving the investors’ confidence in the company."

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