De­vel­oper Caringo raises $5 mil­lion

Austin American-Statesman - - BUSINESSBRIEFING -

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.

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