StorageCraft Gets Massive, $187M Private Equity Investment

Draper, Utah-based backup software developer StorageCraft has raised a huge, $187M investment round, from private equity firm TA Associates, according to the firms. As a part of the investment, Matt Medeiros--former General Manager of Dell's SonicWALL business--has joined the company as Chairman and CEO. According to StorageCraft, the funds will go to support growth of the company. StorageCraft was advised by Holland & Hart LLP and Boston Meridian Partners in the deal; TA Associates was advised by Goodwin Procter. StorageCraft was led by Jeffrey Shreeve, who helped co-found the company, before the investment.