TechR2, which is based out of Reynoldsburg, Ohio, has raised $3 million in venture funding from Stonehenge Capital. The funds will be used for capital investment and to increase its workforce as the company further expands its operations in rural Ohio to meet industry demand and the demands of an IBM partnership.
Founded by CEO Sepp Rajaie in 1997, TechR2’s patented Tear-A-Byte® “Track-Contain-Destroy-Verify” media destruction method helps its clients mitigate risks that might arise from data at rest. TechR2 services Fortune 500 companies and has recently been named IBM’s global service provider.
“Today’s modern digital landscape is rapidly changing, and we are constantly innovating and working to meet the ongoing needs of our client. With Stonehenge’s investment, we will be able to invest in our clients’ futures to make sure they, as well as their customers, are secure and protected,” Rajaie said, in a statement.
This investment is the first of many by Stonehenge in small businesses located in rural Ohio that are poised for growth but lack access to affordable growth capital.
The Stonehenge Ohio Rural Fund was approved by the Ohio Development Services Agency to participate in the Ohio Rural Jobs Act, which was enacted in 2017 to provide access to growth capital for existing small businesses in rural Ohio.