Welcome!

News Feed Item

ownCloud Closes $6.3 Million Series A Funding Round

Round led by Devonshire Investors and existing investor General Catalyst Partners, ?joined by customers and angels

LEXINGTON, Mass., March 13, 2014 /PRNewswire/ -- ownCloud, Inc., the commercial entity behind the popular file sync and share open source project, today announced it has closed a $6.3 million series A funding round, led by Devonshire Investors and existing investor General Catalyst Partners and joined by customers and existing angel investors. John Raguin, managing director, Devonshire, will join the company's board where he previously served as a board advisor.

As employees sync, share and store more and more sensitive company data on consumer-grade file sync and share apps, enterprises face significant privacy, governance, regulatory and security exposure. ownCloud offers businesses an enterprise-grade, on-premises file sync and share alternative to protect sensitive corporate data.

"We are very excited about ownCloud's penetration into the enterprise file sync and share market, both through their robust and growing community, as well as the customers they've been attracting," said John Raguin. "This funding will enable ownCloud to grow even more quickly in this hot, very critical market."

"No one else offers on-premises file sync and share that fully integrates with an enterprise's existing security, governance and identity management tools," said Larry Bohn, managing director, General Catalyst Partners. "ownCloud gives businesses the choice of on-site, cloud or hybrid storage, all accessible through simple tools their employees will actually use."

ownCloud will use the funds to expand marketing, sales and development efforts in the US and Europe.                     

"Getting this funding from Devonshire and General Catalyst is validation that we are solving a real problem," said Markus Rex, CEO, ownCloud. "With all the concerns about data privacy and security, and the continuing proliferation of BYOD (bring your own device) in companies, it is critical for companies to get back control of their sensitive corporate data, they can do that with ownCloud."

With more than a million users worldwide, ownCloud offers the ease-of-use, flexibility, sophistication and security unmatched by consumer-grade syncing apps with third-party storage. ownCloud installs easily on a web server, enabling users to host their own file sync and share and leverage their own storage (or third-party storage they choose), instead of relying on 3rd parties outside of their control.

About Devonshire Investors
Devonshire Investors is the private investment firm affiliated with FMR LLC, the parent company of Fidelity Investments. Managing investments on behalf of FMR outside of Fidelity's core financial services business, Devonshire has a long track record in the venture capital and private equity industries. Its venture capital teams including Fidelity Biosciences and Fidelity Growth Partners in Europe, Asia and India have invested in companies such as Alibaba, Curam (IBM), GoodData, NetMagic (NTT), Cloudant, Neo4J, Eris Exchange, Liazon (Towers Watson), and Ironwood.

About General Catalyst Partners
General Catalyst Partners is a venture capital firm that makes early-stage and growth equity investments. The firm backs exceptional entrepreneurs who are building innovative technology companies that transform industries, including KAYAK, Demandware, Stripe, Airbnb, The Honest Company, Warby Parker, Datalogix, BigCommerce, Snapchat, HubSpot, and Datto. The General Catalyst partnership leverages its broad experience to help founders build market-leading businesses. General Catalyst has offices in Cambridge, MA, Palo Alto, CA and New York City. For more information, visit: www.generalcatalyst.com or www.twitter.com/gcvp.

About ownCloud Inc.
Based on the popular ownCloud open source file sync and share community project, ownCloud Inc. was founded in 2011 to give corporate IT greater control of their data -- combining greater flexibility, openness and extensibility with on premise servers and storage. Company headquarters are in Lexington, MA, with European headquarters in Nuremberg, Germany. For more information, visit: http://www.owncloud.com.

Media contacts:

Joseph Eckert, ownCloud, Inc.
(203) 300-2649
[email protected]

Katja Gagen, General Catalyst Partners
(415) 690 6689
[email protected]

SOURCE ownCloud, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
SYS-CON Events announced today that EARP will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Systena America will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.