Medina Capital ups Catbird backing to $12m amid debut fundraise


cloud-and-sunIT-focused growth investor Medina Capital has made a $10m investment in cloud data security business Catbird to help the company’s go-to-market strategy.

The firm has now invested $12m in the Catbird, which said it plans to use the financing to expand sales and marketing and develop its software.

Medina founder and managing partner Manuel Medina said, “Software-based solutions are the new standard in the data center, with security standing to benefit dramatically from this evolution.

“Catbird’s groundbreaking approach to enabling comprehensive compliance enforcement through a single product is exactly what customers require for their mission-critical operations in virtual and cloud environments.

“Within the next five years, software-defined security will largely replace physical appliances as the de facto approach to securing next-generation datacenters.

“The combination of Catbird’s leading-edge technology, its team and the market opportunity made for a highly-attractive investment.”

The deal comes three months after Medina Capital launched its debut fundraising effort targeting $250m.

The firm was founded last year following the purchase of managed IT infrastructure company Terremark by Verizon in a $2bn deal.

A non-compete agreement between Medina and Verizon expired last summer, leaving Medina free to being building its portfolio.

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