Cloud Storage Company SugarSync Raises $3 Million
SugarSync is a cloud storage startup company that has raised $3 million in funding, according to an SEC filing. The funding was in the form of a debt raise and they plan to use the funding to hire more product development employees.
The funding was raised from an existing investor, which was likely Draper Fisher Jurvetson. SugarSync has not raised funding since February 2012 and they raised $15 million back then.
“This small cash infusion was from existing investors who were simply supporting our focus to continue to improve the user experience,” said SugarSync CEO Mike Grossman in an interview with VentureBeat. “We’re very disciplined related to what we’re delivering and who we are targeting.”
Based in San Mateo, California, SugarSync enables individuals and small companies to manage and back up files on multiple platforms including PCs, Macs, Android, iOS, and BlackBerry devices.