STAMFORD: Austin McChord, founder and CEO of Datto, one of Connecticut’s fastest growing tech companies has donated $50 million to the Rochester Institute of Technology his alma mater.
Dattco is a data protection company with engineering and support offices in downtown Rochester and is headquartered in Stamford.
McChord, is a 2009 alumnus and according ot RIT his gift is the largest donation ever made to the university and one of the largest ever in the region.
“A gift of this magnitude will help propel RIT from excellence to preeminence,” said RIT President David Munson. “We are so proud of our alumnus Austin McChord. He was passionate about his idea and he turned it into a big success. This embodies the creative element that we want to further highlight at RIT. Every student can be involved in creating things that never before existed, and then putting the result into play. His investment in RIT will help our students and faculty make their mark on the world.”
McChord, is an RIT trustee, said he was inspired to make the donation by former RIT President Bill Destler, with whom he has developed a friendship.
“My goal with this gift is two-fold,” said McChord. “First is to help make more resources available to students, alumni and the community at-large to create, build and innovate for the future. But it’s also to help recognize those who helped you along the way. My success today would not have been possible without my time at RIT.”
McChord founded Datto, a “global provider” of Total Data Protection Solutions, in 2007. RIT explained the McChord’s history, “Starting with an idea he had while a student at RIT, McChord started the company in the basement of his father’s office building. His original goal of building basic back-up for small businesses across the country has expanded dramatically over the past 10 years. Datto has experienced exponential growth, appearing on the coveted Inc. 500 list of fastest growing private companies in 2012, 2013 and 2014, and has been recognized by the Connecticut Technology Council as one of the state’s fastest growing companies.
Datto was recently acquired by Vista Equity Partners and merged with Autotask Corp. McChord is CEO of the new company, which has about 1,400 employees with offices in nine countries. In 2015, the company became Connecticut’s most valuable start-up, with a valuation in excess of $1 billion.