IT-Lifeline, Inc. Lands Private Equity Funding to Fuel Expansion of Disaster Recovery Business
Expansion to Seattle and Portland is next step for Eastern Washington business continuity center for data management and recovery.
(PRWEB) November 7, 2005 -- IT-Lifeline, an Eastern Washington based Business Continuity Center, has closed new equity financing. IT Lifeline plans to use the funds to expand both its sales force and infrastructure to support NW region’s needs. The terms of the deal were not disclosed.
The Liberty Lake company's most recent private placement was led by Spokane based WIN Partners, with additional funding from regional VC, Bighorn Ventures.
IT-Lifeline’s Business Continuity Services include electronic data back-up, disaster recovery suites, and co-location space. IT Lifeline will use the funding to expand its sales and marketing operations and to add infrastructure to support our current and future clients. “The scope of our business is growing and this investment will allow us to continue to provide customers with industry leading solutions and service,” said company founder and president, Steve Tabacek.
IT-lifeline will be expanding the sales and service team to support the entire Western Region, with a primary focus on the Seattle and Portland markets. “These business communities are vital to our country’s economic success and are “at-risk” areas geographically. We are strategically located to make sure these businesses and the regional economy can recover quickly with little impact on customers.” said, Vice President of Sales, Chris Turnley.
Founded in 2002, this is IT-Lifeline’s first round of outside financing. "It's an honor to lead the team effort of local investors backing IT-Lifeline, Inc. This is not only a clear affirmation of IT-Lifeline's business model and executive team, but it is also a commitment by a significant cross-section of the Spokane/Coeur d'Alene business community to work for the ultimate success of IT-Lifeline. We were impressed with IT Lifeline’s significant technical capability, coupled with the fact that while only 3 years old, the company is profitable today. " Said John Pariseau WIN Fund manager.
The company will also be bringing additional back-u p and recovery solutions to the market including: Real-time replication, PC/desktop data protection and a full solution for AS-400 server recovery. Tabacek and Turnley continue to see areas where companies are taking risks with their data protection strategy. “Many companies have created a mobile workforce but have not changed their protection philosophy to protect some of their most vulnerable and vital data,” says Turnley. “We are working to make sure all corporate data can be managed and recovered.
About IT-Lifeline, Inc.
www.it-lifeline.com
About IT-Lifeline: IT-Lifeline provides customers with the most comprehensive high availability and disaster recovery solutions possible. IT-Lifeline offers outsourced electronic data backup & recovery services, disaster recovery hot suites, server co-location, and disaster recovery testing services. IT-Lifeline provides customers the assurance that they can rebuild their data and information technology infrastructure and resume their business in the face of adversity
Any Questions, please contact Jim Sandford -- 509-984-1602 -- jsandford@it-lifeline.com
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