RackTop Systems, a nine-year-old Howard County developer of secure systems used for storing data, has raised $15 million in funding.
The Series A financing round was led by Razor’s Edge Ventures and Grotech Ventures. Participants included the Maryland Venture Fund, Blu Venture Investors and Gula Tech Adventures, an investment firm founded by former Tenable CEO Ron Gula and his wife Cyndi.
RackTop, headquartered in the Maple Lawn development in Fulton, plans to use the funds to boost its sales efforts and product expansion.
The company’s flagship product, BrickStor, is a data storage and management platform that protects sensitive data from cyber attacks. RackTop’s technology manages more than 50 petabytes of customer data across the public sector, media, entertainment, financial services and health care industries. A petabyte is 1 million gigabytes.
The network-attached storage market is expected to reach $45.21 billion by 2023, according to MarketsandMarkets, growing at a compound…Read the full story from the Washington Business Journal.