Cloud Storage Firm Symform Raises $11 Million More Funding
Cloud storage firm Symform announced it has raised $11 million in Series B funding led by WestRiver Capital, with participation from existing investors OVP and Longworth Venture Partners. This latest round of funding brings the company’s total in capital to $20 million.
The company’s flagship product, the Global Cloud Storage Network , is a “peer-to-peer” secure cloud storage and backup service. With this funding round, Symform plans to construct its international reach and to make its technology easier to integrate with on-premise storage. Erik Anderson of WestRiver Capital will join Symform’s board of directors with this investment deal.
According to the corporate, Symform presently has active users in 138 countries, adding 46 because the end of 2011. In Q1 2012, the corporate said its customer base has grown by greater than one hundred pc in comparison with Q1 2011. The choice of devices and information files stored at the Symform network increased 50 percent during Q1 2012, the corporate noted.
Symform also announced the formation of an advisory board including Jon Gacek, CEO of Quantum; Dimitris Achiloptas, professor of Computer Science on the University of California Santa Cruz; and Grant Peterson, CTO and VP of Engineering at DocuSign .
Last August, Symform unveiled its tiered partner/reseller program. In September 2011, Symform doubled its free storage amount to 200GB for purchasers who helped promote its platform through referrals and implemented the platform within 24 hours.
Talkin’ Cloud readers can click here to examine the Symform Partner program.