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Actifio Takes Funding Haul, Aims For IPO

The developer of Data-as-a-Service technologies closed a $106 million funding round that could be the precursor to an IPO.

The latest round brings Actifio's total investment to $341 million, imparting a valuation over $1.3 billion.

The Waltham, Mass.-based company will likely not look again to raise private equity, said Ed Durkin, the company's CFO.

"We don't expect any more private capital raises," Durkin told CRN. "This gets us to cash-flow-positive with plenty of cushion."

It also makes Actifio an IPO candidate, he said.