Bitcasa Raises $11 Million to Accelerate Product Development and International Expansion
Mountain View, Calif. (PRWEB) November 11, 2013 -- Bitcasa, the company that makes your digital belongings infinitely useful, today announced it has raised $11 million as supplemental to series A funding. Horizons Ventures and Pelion Venture Partners led the round, which brings Bitcasa’s funding up to a total of $20 million.
“Bitcasa has had a strong growth rate with high paid conversions that shows consumers are increasingly looking for a new way to store their digital belongings," said Board Member Bart Swanson. “This funding will help Bitcasa quickly scale across both the consumer and SMB markets, as well as take advantage of its growing demand overseas.”
According to Gartner, family household digital content is expected to increase from 464 gigabytes to 3.3 terabytes by 2016. Yet, consumers don’t always have control of their own data or know how to store it in a way that’s affordable, private and accessible and in a way that makes it the most useful to them. This investment will address that market need and fund the development of new usability features that allow consumers and small businesses to do more with their digital belongings, all while ensuring their data is kept completely private. Additionally, it will support marketing and sales efforts both here and in international markets.
“We are very pleased to have this vote of confidence in our vision and go forward strategy,” said Brian Taptich, CEO of Bitcasa. “Now that the Bitcasa Platform has reached a new level of maturity we want to accelerate adoption and enable consumers, developers and small businesses around the globe to take control of their belongings and use it in whatever way they choose.”
About Bitcasa
Founded by former MasterCard and Mozy employees and backed by top-tier investors, including Horizons Ventures, Pelion Venture Partners, Samsung Ventures, Andreessen Horowitz and First Round Capital, Bitcasa provides a home for your digital belongings. Bitcasa believes that your digital belongings are your own, and that only you should control who can access and use them. With access across all devices; Android, iOS, Windows, Windows RT, Mac OSX, and the Web, Bitcasa enables you to take your stuff with you everywhere. Bitcasa designed the software to ensure complete privacy with client-side encryption, so your belongings are always your own. Download at http://www.bitcasa.com, and follow us at http://www.twitter.com/bitcasa and http://www.facebook.com/bitcasa.
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Suzi Owens, Blanc & Otus, +1 415-856-5125, [email protected]
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