Sonian Secures $7.5 Million to Fuel Continued Growth
Cloud-based archiving pioneer secures new financing from Ares Capital Corporation to drive product development and expand engineering team
DEDHAM, Mass. — Sonian, a pioneer in cloud-based archiving, today announced that it has secured $7.5 million in venture debt from Ares Capital Corporation. This financing follows rapid corporate momentum marked by a record quarter in sales and profitability, and will be used to fuel product development and staffing efforts as the company continues to expand.
In the past year, Sonian has made huge strides by garnering more than 2,500 new customers to bring its total client count to more than 20,000. These customers see tremendous value in Sonian’s solution to store and manage data in the cloud while ensuring optimal security and ease. To accommodate the company’s rapid growth, Sonian has added 13 employees in the past 12 months, including strategic new hires such as the appointment of Tim McKinnon as Chief Executive Officer.
“As evidenced by our record sales performance and continued growth, our solution is filling a major market need among all types of B2B and B2C organizations and in every industry,” said Tim McKinnon, CEO, Sonian. “We’re seeing dramatic need for line-of-business big data visibility within the enterprise. We are committed to continuing our history of innovation in support of this through investment in new technologies delivered through new products.”
An early innovator in cloud-based archiving, Sonian preserves, protects and presents the world’s information. More than 20,000 customers in 40 countries trust Sonian’s secure platform and fast and accurate search to retain and retrieve valuable data and to protect the intellectual property in business email. Sonian manages more than 20 billion objects in the cloud; every day, 17 million new documents are uploaded to Sonian’s cloud archives, which can run on any of the world’s five largest public clouds. Boasting strong partnerships with the world’s leading technology companies, Sonian combines innovative technology with deep archiving expertise to satisfy customers of all sizes and industries. For more information, please visit www.sonian.com.