Grow Utah Ventures invests in Revinetix

Salt Lake-based Revinetix said Tuesday that private equity fund Grow Utah Ventures has invested an undisclosed amount in the company "and spurred additional investment through Grow Utah's network of formal and informal angel investors throughout the state."

Revinetix develops data backup and recovery products.

Chief executive officer and chairman Steve "Max" Ackerman said the funding will "allow us to accelerate the rollout of new technologies, more aggressively penetrate key markets and ultimately achieve our growth objectives."