Drobo announced Dune Road Capital and Montage Capital have invested a combined $4 million in growth capital while East West Bank has renewed Drobo’s $4 million credit facility. These two new financing vehicles will be used to build new products and accelerate Drobo’s growth.
“I’m so pleased to announce this round of financing to strengthen our position in the marketplace,” said Mihir Shah, CEO of Drobo. “The Drobo team has been working hard to grow and these two new financing vehicles are a direct result of our ability to execute.”
“Drobo is a great fit for Montage Capital – the Drobo management team has clearly demonstrated the ability to control cash burn and grow with discipline. Montage is also excited about the potential upside for Drobo, as the company continues to achieve global customer traction with its leadership position in ease-of-use,” said Eric Gonzales, managing director of Montage Capital.
“Drobo’s growth over the last few years has been impressive,” said Peter J. Richards, managing partner at Dune Road Capital. “That’s why we’re excited to be part of the team to accelerate their growth.”
Santa Clara, CA-based Drobo makes storage solutions that provide a combination of data protection, expandability and ease of use.