ownCloud Raises $2.5 Million (€1.9 Million)

The funds will used to expand the business into new markets

By Silviu Stahie on November 29th, 2012 07:30 GMT

ownCloud, the company responsible for the popular open source file sync and share software, has announced the closing of a second seed round, in which they secured $2.5 Million (€1.9 Million)

The company will use these funds to expand its business into the enterprise and education customer base, not to mention the service providers who are responsible for the implementation of file sync and share based on ownCloud.

“We were very encouraged that many of our current investors – including General Catalyst – were so impressed by our momentum that they came to us for this round,” said Markus Rex, ownCloud CEO.

OwnCloud provides a similar product to Dropbox and Box, but unlike those services that store data at remote third-party data centers, the ownCloud server is deployed on a company's or trusted service provider's servers.
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