Aug. 20--Chicago-based Cleversafe, which makes technology for storing massive amounts of data, has raised $55 million in a fresh round of funding.
The company said it has more than doubled its revenue and customer base in each of the last four years. Its "object storage" technology splits data into separate, distributed parts and reassembles them as needed. Its customers include photo-sharing service Shutterfly.
New Enterprise Associates, a venture firm with its roots in the Washington, D.C. area and Silicon Valley, was the lead investor in Cleversafe's Series D round. NEA has been more active in Chicago in recent years, opening a small local office here and going in on deals with Chicago-based venture firm Lightbank. New World Ventures, J.B. Pritzker's firm, joined in the latest round as a new investor. Cleversafe all of its "major existing investors" also participated. Previous investors in the company include Chicago-based OCA Ventures and the venture arm of Schaumburg-based Motorola Solutions.
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