ORIX Venture Finance Provides SugarSync New Financing
Announces $10 Million Financing for Continued Expansion of SugarSync’s Global
PALO ALTO, Calif. -- June 28, 2012
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
“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.
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
(http://twitter.com/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. www.orixventurefinance.com.
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.www.orix.com. 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).
C. Pharr & Company for ORIX Venture Finance
Shelby Sabin Menczer, 214-763-6068
Press spacebar to pause and continue. Press esc to stop.