Cloud Storage Provider pCloud Raises $3 Million in Series A

Cloud storage provider pCloud AG raised $3 million of funding to expand the company’s presence to new international markets.

It plans to expand its partnership network and build representative offices in Western Europe, the United States and selected emerging markets. According to Tunio Zafer, CEO of pCloud, the investment will help scale the platform into the key markets they’ve been aiming for.

“The cloud storage space is highly competitive right now, and this financial backing gives us some security to take bigger steps,” Zafer said. “We have a solid client base in Europe and Asia, and we’re eager to expand to new markets. Our investors are making this a reality.”

Over the past six months, pCloud has doubled its user base and now boasts more than two million registered users worldwide and ranked by CNET as one of the best cloud services for backup.

The cloud storage provider also will use the new funding to advance into the enterprise sector. pCloud provides companies with military-level client-side encryption products to protect sensitive corporate data. pCloud will also focus more on building up the client base for pCloud Business, a cloud storage service for organizations that launched in June.

“Every business has different needs, and pCloud Business can adapt to these needs in any industry,” said Zafer. “As more businesses move to the cloud, we want our unique business platform to reach those companies who are ready to follow suit. Our goal is to make both pCloud and pCloud Business more recognized names in the cloud storage space in the coming years by targeting small and medium-sized companies now.”

By the end of the summer, pCloud will launch its client-side encryption feature for iOS and Android mobile devices. The company plans to expand its security features of pCloud Business by the end of the year with an entirely encrypted solution.

This is the first time pCloud has received funding of any kind, and this round is supported entirely by private investors with strong IT background.

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