CREATE funds local secure data management start-up
Tarmin Technologies Ltd, a young Cambridge-based developer of advanced information management products, is set to cash in on the global demand for secure data technology.The company has secured a significant first round of financing, led by CREATE Partners with NW Brown and NorthStar Equity Investors participating, but its prowess has already extended way beyond the reach of any ordinary start-up.
No amounts are being released for its fundraising nor details of the exact nature of its technology but Business Weekly understands Tarmin has already handled work for the British government in the security realm and is now in talks with a NASDAQ quoted, multi-billion dollar turnover US corporation.
We also understand it is sitting on orders of significant size from other global customers.
Tarmin is a frontrunner in the fast-growing market of Information Archive Management, the long term intelligent storage of electronic information and has developed "breakthrough" technology to deliver secure data storage 'on-demand' across enterprise networks.
Demand in this market is being driven by factors including the exponential growth of unstructured fixed content, security requirements and new legislation.
By offering breakthrough improvements in key areas of networked information management, Tarmin’s products enable organisations to effectively address new online opportunities, mitigate risk and achieve significant cost savings.
Organisations of all sizes must understand where their information is, know it is secure and have processes to access it swiftly and economically across different applications and platforms, or risk disruption leading to economic loss, damage, or even demise.
By making Intelligent archive management a priority, enterprises can reduce the risk of downtime, increase their resiliency to inevitable disruptions, become more flexible, and obtain a higher return on investment in their IT systems.
The new funding will be used to further develop the company’s technology and extend the penetration of key markets.
The founding team comprises experienced industry veterans from data storage, data security and data networking companies in the United States and Europe. While the main business is based in Cambridge, foragers on the sales side have been established in California.
“The size, timing and calibre of investors in this round are a testament to our team, products and strategy,” said Shahbaz Ali, president and CEO of Tarmin Technologies Ltd.
“We are proud to have earned the respect and backing of institutional investors who understand this market space and are keen to help accelerate our expansion plans.”
Matt Pieterse, an investor director with CREATE, said: “The company has sound commercial reasons for remaing in stealth mode as far as fund-raising and the reach of its technology is concerned.
"We are impressed with the strides Tarmin has made; it is special because the technology significantly improves the economics for everyone right across the industry value chain – from OEMs to systems integrators to end users.
“We believe that Tarmin has powerful customer validation for its technology and the vision necessary to become a preferred provider of these critical solutions and are pleased to be a part of this exciting venture.”