Friday, April 15, 2011

Austin's StoredIQ raises $9.9M

The Austin Business Journal reported that software maker StoredIQ Inc. received $9.9 million of a planned $11.4 million financing.

The Austin-based company — a developer of information management, compliance and electronic discovery software — collected the capital from 10 investors, according to a Thursday filing with the U.S. Securities and Exchange Commission.

The filing is an amendment to a November 2010 filing in which StoredIQ reported receiving $4.9 million of the $11.4 million Series D round of funding.

The company, founded in 2001, employed about 54 workers last year. It changed its name from Deepfile Corp. in early 2005.

In 2009, the company closed an $8 million Series C round of financing. Investors included Arizona-based PerformanceEdge Partners and two Austin-based firms, S3 Ventures and Techxas Ventures.

In October 2010, the company selected PerformanceEdge co-founder and general manager Phil Myers as its CEO, and H.E. Buddy Wilson as vice president of business development.

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