Developer Caringo raises $5 million
Austin-based Caringo Inc. has raised $5 million in venture capital, the company announced Monday.
Caringo develops object-based software for storage of digital content. The 5-year-old company said it would use the money for expansion.
The investors were private sources and two unnamed Texas institutional investors.
“During an economically difficult time for many technology companies, when several vendors have scaled back or even gone under completely, this investment round is an endorsement that Caringo is on the right path to success and future growth,” said CEO Mark Goros, a co-founder and chief executive.