Actifio, the Waltham-based data management company, announced today that it has raised a whopping $50 million in new funding from Technology Crossover Ventures, joined by existing investors Andreessen Horowitz, ATV, Greylock Israel and North Bridge Venture Partners.

The new round comes on top of an impressive year of growth in 2012, according to a release from the company.

Actifio’s Copy Data Storage solution aims to mimimize the scale of duplicate data companies have to deal with by a technique known as data virtualization, which effectively manages the interactions of various applications with the data set.

“We’re excited to lead the next chapter in Actifio’s journey to help CIO’s deal with the storage explosion within the enterprise,” said TCV partner Rick Kimball in the release. “Copy Data Storage is quickly becoming the world’s best platform to manage the data explosion. By simplifying IT architectures while slashing recovery times to seconds, Ash and his team have the opportunity to capture a large share of the $44 billion dollar market currently being spent on legacy tools.”

Last May, we wrote about Actifio scooping up Boston branding expert Mike Troiano as CMO, on road to an eventual IPO. No word on a public offering in the release, and this money should allow the company to take its time. (The company is targeting 2014.)

The Series D brings Actifio’s total raised to $107.5 million.

[Update: Ashutosh tells Xconomy the round was at a roughly $500 million valuation.]

Pictured: Actifio founder and CEO Ash Ashutosh