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 build 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 company, Symform presently has active users in 138 countries, adding 46 since the end of 2011. In Q1 2012, the company said its customer base has grown by more than 100 percent compared to Q1 2011. The number of devices and data files stored on the Symform network increased 50 percent during Q1 2012, the company noted.

Symform also announced the formation of an advisory board including Jon Gacek, CEO of Quantum; Dimitris Achiloptas, professor of Computer Science at 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 customers who helped promote its platform through referrals and implemented the platform within 24 hours.

Talkin’ Cloud readers can click here to read about the Symform Partner program.

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