PALO ALTO, CALIF. – ORIX Venture Finance today announced the closing of $10 million in new financing for SugarSync. SugarSync will use these funds, in addition to funds from its recent series D financing round to accelerate the expansion of its datacenter footprint as the company continues its rapid global growth.
“SugarSync is clearly the technology leader in the fast growing Cloud storage, sync and sharing market, and as a result consumers are flocking to the service,” said Michael David, Managing Director and Co-Head of ORIX Venture Finance. “In addition to mass consumer adoption of the service, some of the world’s leading brands have selected SugarSync as their Cloud partner. This combination is driving SugarSync’s worldwide expansion, and we are proud to help enable their continuing growth plans.”
SugarSync is consistently selected by consumers and brands around the world because SugarSync is the only Cloud solution that is built with the flexibility to sync all of a user’s folders (not just one), is available on the most mobile devices (iOS, Android, BlackBerry, Windows Mobile and Symbian – with Windows Phone 7 coming soon), and is the industry’s only true two-way sync solution for mobile devices. Industry experts also repeatedly select SugarSync as the best-of-breed Cloud service, citing the same strengths. As a result, SugarSync currently has millions of customers in over 100 countries worldwide.
“With constant 400-600 percent year-over-year growth, we remain committed to expanding our datacenter footprint globally to ensure that we can continue to scale and provide the best Cloud service for our ever increasing user base,” said Peter T. Chantel, CFO of SugarSync. “ORIX is an excellent, strategic finance partner for us as we continue our expansion.”
SugarSync has emerged as a leader in the Cloud storage, sync and share market, and has been selected as a Cloud partner by brands including Samsung, Lenovo, Fujitsu, SanDisk, France Telecom-Orange, Korea Telecom, SoftBank and more. These partners, as well as the viral growth of SugarSync’s millions of direct users, have driven SugarSync’s swift worldwide growth.
About SugarSync
SugarSync is a free service that helps you sync your life. With a simple download on your computers and mobile devices, you have access to all the Cloud has to offer. Need access to all your files from any computer or mobile device? Check. Need to sync your stuff across all your devices? Definitely. Need to share large files or folders with your friends? Yes, we do that too. We’re truly a one-stop shop for the best of the Cloud.
Launched in 2008 and based in San Mateo, CA, SugarSync currently has millions of users worldwide. Brands such as Samsung, Lenovo, Fujitsu, SanDisk, France Telecom-Orange, Korea Telecom, SoftBank, Best Buy and more have selected SugarSync as a partner to bring Cloud services to their customers. For more information, please visit www.SugarSync.com, follow us on Twitter @sugarsync or on Facebook.
About ORIX Venture Finance
ORIX Venture Finance provides customized financial solutions up to $50 million in capital per transaction to mid- and late-stage companies which have established customers and run-rate revenues of $10 million or greater. Since its inception in 2001, ORIX Venture Finance has invested in more than 100 growth companies throughout the U.S. and Canada. ORIX USA is a financial services and investment firm with more than 1,400 employees. ORIX USA is headquartered in Dallas, Texas with additional offices in New York, Los Angeles, Columbus and Minneapolis. ORIX USA holds approximately $6 billion of assets and manages an additional $25 billion through various subsidiaries. ORIX USA is a wholly owned subsidiary of ORIX Corporation, a Tokyo-based, publicly owned international financial services company with operations in 27 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX).
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