DC-Based Paladin Leads $9 Million Funding Round for Unitrends
Washington, DC – May 20, 2008 – Paladin Capital Group, a DC-based private equity firm focused on the homeland security market, on Wednesday said that it has led a new $9 million funding round for South Carolina-based Unitrends, a developer of disk-to-disk backup appliances designed to protect and restore critical data and systems. Aurora Funds, Harbert Venture Partners and the Trelys Funds also participated in the company's third round. Unitrends said that it will use the proceeds to fuel additional research and development, bolster its partner marketing programs and strengthen its sales and support organizations. Paladin operates three funds with more than thirty portfolio companies, and currently has over $800 million under management.