Bitcasa raises USD11 million in venture round
Cloud storage company Bitcasa Inc., raised USD11 million to fund the international expansion of its service. The fund was a follow-on to its previously announced USD7 million Series A round according to TechCrunch.
The start-up was established in 2011 by former employees of Mastercard, VeriSign and Mozy. A few years later, the cloud storage provider experienced unexpected growth in Japan and other countries in Asia.
The California-based company now has a funding total of USD19.5 million, according to figures compiled by CrunchBase. Bitcasa listed Horizon Ventures, Pelion Venture Partners, Samsung Ventures, Andreessen Horowitz and First Round Capital as its investors.
In an interview with TechCrunch, Bitcasa CEO Brian Taptich said that aside from the international expansion, the company will be using the additional funding to accelerate its product development cycle.
Bitcasa will be adding advanced features for sharing and collaborating on documents on their colud storage platform soon, Taptich said.