# Permabit Technology Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/permabit-technology

- Industry: Software
- Headquarters: Cambridge, US
- Website: www.permabit.com
- Total disclosed funding: $12M
- Latest round: Series C (Aug 30, 2005)
- Investors on record: 1

## About

Permabit Technology Corporation provides innovative data optimization solutions focused on storage efficiency, enabling organizations to enhance their data management and reduce costs.Permabit Technology Corporation, founded in 2000, is based in Cambridge, US. The company specializes in data optimization solutions, addressing storage efficiency challenges. In July 2017, Red Hat, Inc. acquired Permabit Technology Corporation for an undisclosed amount. The company has been involved in 2 total deals, the most recent deal occurring on July 31, 2017. The latest funding was a Series C round led by Baker Capital, raising USD 12.00 mn, which constitutes the total amount raised by the company.Permabit Technology Corporation offers advanced data optimization solutions, focusing on storage efficiency through technologies such as data deduplication, compression, and thin provisioning. These solutions are tailored for enterprises to streamline their data management, particularly in hybrid cloud environments, and are essential for improving operational efficiencies across various sectors, including finance, healthcare, and telecommunications.Permabit generates revenue through its subscription-based models for software solutions and accompanying services, which include technical support and consulting. Clients typically enter into multi-year contracts, ensuring continuous access to updates and necessary support services. This business model allows for a stable revenue stream, particularly as enterprises increasingly adopt Permabit's technologies to optimize their IT infrastructures.Permabit Technology Corporation's future growth strategy includes the ongoing development of new data optimization products, with details on specific launch dates to be announced. The company is also planning to expand its reach into new geographic markets, specifically targeting regions in Europe and Asia-Pacific by 2025. Funding from the recent Series C round will be utilized to support these initiatives, enabling the company to enhance product offerings and facilitate market expansions.

## Funding rounds

- Series C, Aug 30, 2005, $12M — Baker Capital

## Investors

- Baker Capital (https://capitalatlas.ai/funds/baker-capital) — Series C