Backblaze builds its own "storage pods" and today has more than 40 petabytes of capacity.
(Credit: Backblaze)
BackBlaze, an online backup company that for the last five years bootstrapped itself with its own funding, has taken a $5 million investment from U.K.-based TMT Investments to speed its growth.
The funding will be used for advertising, promotional partnerships, and hiring engineers to bring new features such as an iOS app to market, Chief Executive Gleb Budman said.
The 16-employee company, founded in 2007 ago and headquartered in San Mateo, Calif., has been profitable with plans that cost $5 a month, $50 for a year, or $95 for two years. TMT said in its announcement today that Backblaze had profit of $202,471 before taxes for 2011.
Backblaze competes with better established rivals such as Mozy and Carbonite and with synchronization services such as Dropbox, Box, Google Drive, and Microsoft SkyDrive, but it distinguishes itself by offering unlimited data-storage capacity. That's unusual, but not unique; Crashplan and AltDrive, for example, also offer flat-rate un... [Read more]
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