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Start-up ownCloud Closes $2.5 Million Seed Round


Written by  Ravi Vadugu | 28 November 2012
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ownCloud ownCloud Inc., the company that offers open source file sync and share software, announced the closing of a second seed round, led by current investor General Catalyst Partners, a growth equity and venture capital firm investing in exceptional entrepreneurs. The company also announced that General Catalyst Managing Director Larry Bohn will join the company’s board of directors.

The company will use the funds to further expand its more than 70-partner strong channel, aggressively expand its large enterprise and education customer base and support service providers who implement file sync and share based on ownCloud. Existing alternatives like Dropbox and Box apps store data at a remote third-party data centers. Whereas the ownCloud server is deployed on a company’s or trusted service provider’s servers, seamlessly integrating with existing security, storage, monitoring and reporting tools.

ownCloud is a flexible, open source file sync and share solution. Whether using a mobile device, a workstation, or a web client, ownCloud provides the ability to put the right files at your employees’ fingertips on any device in one simple-to-use, secure, private and controlled solution. It grants service providers the control they need over customer data.

One can download, upload, open and update files with new ownCloud apps for your Android, iPhone and iPad device. The company claims to have more than 650,000 users world-wide. ownCloud users can host their own data sync and share services on their own hardware and storage, use popular public hosting and storage offerings, or both – true hybrid cloud storage.

“We were very encouraged that many of our current investors – including General Catalyst – were so impressed by our momentum that they came to us for this round,” said Markus Rex, ownCloud CEO. “We’re also happy to welcome several new investors and of course Larry to our board.”

The company was founded in 2011, with its headquarters in Boston, to bring greater flexibility, access and security to unstructured data in enterprises. ownCloud released its free community edition, adding new features like video streaming, mounting of third-party storage, like GoogleDrive and Dropbox, a presentation player and new address book and contact sharing last month. The ownCloud software can be downloaded from its website

 

Ravi Vadugu

Ravi Vadugu

An IT professional with over 12 years of experience. Project management is what i do. Curious/Interested in upcoming technologies, trends, software methodologies(e.g. Agile) and software tools. Love sharing knowledge with rest of the community.

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