Strongbox raises $34.4 million in round led by Fonds de solidarité FTQ

Strongbox Data Solutions, Inc., a world-wide leader in cognitive data management and archive platforms, announced they have raised $34.4 million in funding.

The round was led by Fonds de solidarité FTQ, which accounted for a US$20 million investment, and joined by other investors, including Partner One Capital, the company’s controlling shareholder.

StrongBox is based in Montreal and provides businesses, governments and other organizations with solutions for automating data and storage management. With a suite of solutions that leverage the power of metadata combined with machine learning to help reduce storage costs, Strongbox helps bridge otherwise incompatible data and storage environments, and provides global control of data from anywhere.

Led by CEO David Cerf, it will use the funds raised to accelerate the global marketing of its StrongLink technology.

“StrongLink introduces machine learning, artificial intelligence and powerful analytics to provide a global, vendor-neutral solution for large data environments,” said David Cerf, CEO of StrongBox Data Solutions. “The investment by the Fonds de solidarité FTQ validates the global response from our customers who have discovered that StrongLink can reduce storage costs and operational complexity. Driven by metadata, StrongLink provides a cross-platform global namespace for complete control of data and storage resources.”

StrongLink automates many of the difficult problems related to data protection, migrations, curation, governance and provenance.

“With its strong management team and its proven track record, StrongBox Data Solutions has developed a unique technology that answers market needs,” said Alain Denis, Senior Vice-President, Innovation and Agri-food, at the Fonds de solidarité FTQ. “This investment fits perfectly with our desire to support innovative companies that will build tomorrow’s economy.”

“The fact that an institutional investor such as the Fonds de solidarité FTQ has placed its confidence in StrongBox Data Solutions and StrongLink is a tremendous vote of confidence for us and a true demonstration of the success we are having in the marketplace. The support of such a major investment firm gives us the ability to increase worldwide deployments, which have already proven very successful at major customer sites across the globe,” added Cerf.

Photo by Samuel Zeller on Unsplash

+ There are no comments

Add yours