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Storactive picks up $11.7 million

Storactive has received an $11.7 million ninth round of funding, led by Moore Capital and Mellon Ventures. Marina Del Rey, Calif.-based Storactive said it may increase its round by $2.3 million because of investor interest. The company has raised a total of $18 million. Storactive's software allows companies to continuously replicate, manage and recover data and applications on wired and wireless devices. The company also named Tony Bautista chief executive and president, and Don Flanagan to the post of chairman. Both previously helped build Seagate Software, which was purchased by Veritas in 1999 in a deal valued at $3.1 billion.

Storactive has received an $11.7 million ninth round of funding, led by Moore Capital and Mellon Ventures. Marina Del Rey, Calif.-based Storactive said it may increase its round by $2.3 million because of investor interest. The company has raised a total of $18 million. Storactive's software allows companies to continuously replicate, manage and recover data and applications on wired and wireless devices. The company also named Tony Bautista chief executive and president, and Don Flanagan to the post of chairman. Both previously helped build Seagate Software, which was purchased by Veritas in 1999 in a deal valued at $3.1 billion.