California-based QuorumLabs, the maker of server site recovery systems, announced it has completed an $11 million funding round that will be used to expand its product and service offerings and grow its U.S. and international business.
Although QuorumLabs did not say how many new employees it intends to hire, chief executive officer Larry Lang said the company expects to continue to grow its customer base because it offers such a unique product.
"QuorumLabs fulfills a need that has long been overlooked by offering customers a simple way to instantly recover entire servers, including all data and applications, with the single click of a button should systems go down," Lang noted.
Meanwhile, the world's largest maker of printers, Heidelberger Druckmaschinen AG, said it will be cutting as many as 2,000 jobs worldwide due to a decrease in demand.
Bloomberg Businessweek reports the Germany-based company is suffering as the volume of printed materials begins to shrink, as well as a lack of investments in office supplies and machinery from small and mid-sized customers.
The company said it will slash approximately 1,200 jobs in Germany, with another 800 cuts abroad. Heidelberger said the move will help it cut costs by $229 million over the next two years.