Funambol Raises $5.75M for the Personal Cloud

New Funambol Financing to accelerate global personal cloud footprint

October 9, 2012

1 Min Read

FOSTER CITY, Calif. -- Funambol, the leader of white-label personal cloud solutions for mobile providers, today announced that it closed a new round of financing to fuel the company's rapid expansion worldwide. The $5.75M funding along with a working capital line allows Funambol to execute on its increased market traction that includes major customer wins at multiple tier-1 mobile operators and other large service providers in North America, Europe, Africa and Asia. These customers are collectively deploying Funambol’s OneMediaHub for millions of users to wirelessly secure, sync and share their digital content across mobile phones, tablets and computers via the cloud. The new financing will enable Funambol to continue to extend its global footprint and momentum.

"As we look at new investment opportunities, we are pleased that Funambol has signed major customers in a very short time span. Along with Nexit Ventures and Castile Ventures, we are increasing our investment in the company," said Fred Sturgis, Managing Director, HIG Growth Capital. "Mobile and personal clouds are one of the fastest growing segments in the industry."

Funambol Inc.

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