BRIEF: O.C. fund puts $11 million in software startup [The Orange County Register]
(Orange County Register (CA) Via Acquire Media NewsEdge) March 06--Toba Capital, an investment fund founded by Orange County entrepreneur Vinny Smith, is leading an $11 million equity investment in Quorum, a San Jose software company.
Smith, former CEO of Quest Software in Aliso Viejo, founded Toba after Dell Inc. bought Quest for $2.4 billion.
SoCalTech.com said Toba, which has offices in Orange County and San Francisco, has become one of the most active investors in enterprise software in recent months. It has invested in a dozen software startups in the past four months, the tech news website says.
Quorum makes one-click backup, recovery and continuity software for small to mid-sized businesses.
"Small to mid-sized businesses are beginning to look at business continuity differently, consequently moving from the old world of backup to tape, to a new world of recovery with the hybrid cloud," Smith said. "Quorum is leading the creation of a new category in disaster recovery. This was a driving reason behind the decision for Toba Capital to invest in the company."
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