March 23, 2007
Marathon gets $12 million, to hire 20
By Matthew L. Brown
Littleton-based Marathon Technologies Corp. said it has received $12 million in venture funding for the company's continued operation.
The funding came from Sierra Ventures, which led this, the second round of funding for the company, Atlas Ventures, and Longworth Ventures.
According to Gary Phillips, Marathon's president and CEO, the funding will allow Marathon to hire about 20 new employees.
That would expand the company's workforce to about 90. Most of the new hires would be engineers, Phillips said.
Marathon makes computer data back-up and recovery software, and was started with $14 million in venture funding. The company filed for federal Chapter 11 bankruptcy in 2001, but expects to be profitable by the end of this year.
The funding came from Sierra Ventures, which led this, the second round of funding for the company, Atlas Ventures, and Longworth Ventures.
According to Gary Phillips, Marathon's president and CEO, the funding will allow Marathon to hire about 20 new employees.
That would expand the company's workforce to about 90. Most of the new hires would be engineers, Phillips said.
Marathon makes computer data back-up and recovery software, and was started with $14 million in venture funding. The company filed for federal Chapter 11 bankruptcy in 2001, but expects to be profitable by the end of this year.
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