McCarthy Capital Fund V Invests in Seven10 Storage Software
Omaha, NE — December 16, 2015 — McCarthy Capital, a private equity investment firm, announced today that it has led a recapitalization and growth equity investment in Seven10 Storage Software, LLC (“Seven10”) to further accelerate growth. Massachusetts-based Seven10 is a leading provider of enterprise software-defined-storage solutions and fully automated file migrations.
“Seven10 epitomizes our ideal investment opportunity in a rapidly growing market,” said Bob Emmert, Managing Partner of McCarthy Capital. “Bobby Moulton and the Seven10 team have built a market-leading software platform and a strong industry reputation. In partnering with management, we are excited to continue to grow the company and lead the market in innovation.”
Based in Lawrence, Massachusetts, Seven10 provides enterprise software-defined-storage solutions to customers across healthcare, financial services, government, education, and other compliance-driven services sectors. Seven10’s Storfirst platform enables organizations to effectively and seamlessly migrate, manage, and protect increasing volumes of unstructured data in an intelligent and secure manner across all leading storage hardware and cloud platforms.
“We believe McCarthy Capital will be an excellent partner,” said Bobby Moulton, Chief Executive Officer of Seven10. “McCarthy is a trusted and proven investment firm that is committed to supporting our growing team as we build on our substantial momentum. Seven10’s technology has helped hundreds of enterprise customers move safely, quickly and securely to converged, cloud-as-a-tier storage infrastructures. McCarthy Capital will help us bring the Storfirst brand to a much larger audience.”
Seven10’s differentiated, 100% software-based platform offers clients unmatched speed and reliability. Storfirst’s unique migration plus management capabilities eliminate the time, risk, and hassle that come with manual data migration efforts and remove complex platform integration with standards based SMB and NFS access. Seven10 builds software that gracefully bridges the past and future of storage technology, ending the pains associated with storage obsolescence while future proofing IT environments from expensive “rip and replace” storage transitions.
“Seven10 is well positioned to address emerging opportunities in the rapidly evolving data storage industry,” said Phil Dudley, Vice President of McCarthy Capital. “We expect to support the company as it continues to deliver on its mission to provide clients with access to the newest innovations in storage technologies without sacrificing the stability and security of their current data storage.”
About McCarthy Capital
McCarthy Capital Fund V is managed by McCarthy Partners Management, LLC, an affiliated RIA of McCarthy Capital. McCarthy Capital, headquartered in Omaha, NE, is focused exclusively on lower middle-market companies. For nearly 30 years, the McCarthy organization has been partnering with founders, families, and exceptional management teams to support the growth of their companies. For more information about McCarthy Capital, please visit www.mccarthycapital.com.
Seven10 Storage Software, LLC, is an enterprise storage software company that provides organizations with effortless, unified information management that includes data migration capabilities from existing storage arrays. With support for on premise and cloud technologies, Seven10 delivers a secure, scalable, and centralized view of tiered storage. With proven success in healthcare, financial and other compliance-driven markets, Seven10’s software delivers demands for immediate access while providing the most economical choices for long-term data retention. Seven10 is technology built for an evolving enterprise. For more information about Seven10, please visit www.seven10storage.com.
Teri Mercer, McCarthy Capital Investor Relations
Jen Lee, Seven10 Storage Software