Bazini Hopp

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Datavail attracts $47 million in funding to expand database service

Broomfield firm that offers outsourced database administration has quintupled staff in past five yearsBy Tamara ChuangBroomfield's Datavail Corp., which offers outsourced database administration, added $47 million from investors Wednesday, bringing its total funding to date to $62 million.CEO Mark Perlstein said the funds will be used "for growth, both organic and inorganic."The company was founded eight years ago by Mike Jones, the former chief information officer at Level 3 Communications, and has grown rapidly as more companies have outsourced tedious database duties.Datavail has grown from 90 employees five years ago to 540 today. About 75 work in Broomfield, which is half of its U.S. staff. A larger chunk — about 400 — work remotely in India."The company leverages a highly tuned onshore-offshore delivery model with headquarters out of Broomfield and offshore delivery operations out of Mumbai and Bangalore," Perlstein said.This fifth round of funding was led by Catalyst Investors, a New York equity firm. Others include Tahosa Capital, Lumerity Capital Partners, Boulder Ventures, Meritage Funds and MC Investment Fund.Tyler Newton and Susan Bihler, both with Catalyst, joined Datavail's board.