PHD Virtual raises $4 million

Posted: March 08, 2013

Data backup and protection provider PHD Virtual Technologies, of Philadelphia, said it raised $4 million in funding.

The company said it secured $2 million in funding from existing investors, Insight Venture Partners and Citrix. Another $2 million in venture debt financing came from Wellington Financial L.P.

The money will be used, in part, for expansion into Europe, and for product development.

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