Company: Kashya Inc.
Description: Disaster recovery products
Location: Ramat Gan, Israel
Amount Raised: $26.6 million
VC Firms: Battery Ventures, Jerusalem Global Ventures, TL
Ventures
VC Directors: Scott Tobin, Shlomo Kalish, Amir Goldman
Exit Type: Trade Sale to EMC Corp.
Exit Valuation: $153 million
Absolute Return: 575%
Memorable Quote: "Corporate enterprises are facing severe
commercial and regulatory pressure to guarantee their critical information
is properly protected. Failure to do so means an unnecessary exposure to
high risk which could ultimately cost millions of dollars," said Michael
Lewin, CEO and co-founder of Kashya, upon the release of its first
enterprise data protection product in 2003. He knew he was riding the crest
of a wave.
Memorable Awards: Editor's Choice award from Computer
Technology Review in 2005.
Quick Take: This exit allows Jerusalem Global
Ventures's $40 million NetLaunch venture capital fund to return some money
to investors, no small feat for a bubble-era fund. They were the first
investors in Kashya and this exit turns their $6 million investment into $36
million in cash. Battery achieved a 5X return and TL Ventures, which was the
last investor to participate, achieved triple digit return figures. There
was only so far the data protection company could go before selling to a
bigger player in order to strengthen distribution. After six years, this is
a favorable outcome.
For more on Kashya's sale, see:
Steve Duplessie
The Deal
EMC press release
Technorati tags: kashya, emc, tlventures, batteryventures, vc, venture capital
Continue reading below
