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UK SMEStorage Got $1 Million Growth Equity Investment Round

From IDJ
This is a Press Release edited by StorageNewsletter.com on 2011.12.05

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Vehera announced at CloudBeat 2011 that it has undertaken a seven digit growth equity investment with IDJ Ltd, a London-based firm who specialise in growth equity for technology companies.

The equity investment will enable Vehera to accelerate its business expansion activities. The company's management team will continue to own a significant portion of the company.

Vehera is a privately-owned company, which first achieved profitability in Q4 2010. Vehera, trading as SMEStorage.com, provide a Cloud File Server which unifies information from different file stores and SaaS services making data easier to access,search and manage. Over 30 file clouds and services are supported and unlike other vendors no files need to be moved, copied or replaced to use the service.

Access is available for individuals or teams and the service provides hierarchical security and audit ability from one or many devices whether they are PC's, Mac, Tablets or SmartPhones.

The Cloud File Server acts as an enabler for IT to 'take back control' of data compliance challenges presented by Cloud Services, as well as those more broadly presented by e-compliance, privacy, consumer protection, IP, and content governance.

The Cloud File Server is available as a SaaS Service, as a hybrid on-premise solution, and also as an appliance for service providers to use with their own storage solutions. It natively supports Mac, Linux and Windows, with Cloud Drives and Sync Tools, and natively supports iOS, Android, BlackBerry and Windows Phone 7.

CEO Ian Osborne stated: "I am pleased to be able to announce the growth equity round we are currently undertaking. It will provide us the capital to fulfil our global expansion objectives in 2012 in a market that continues to accelerate."

Osborne finished with saying: "We have a very exciting second generation cloud opportunity with a service that not only lets the companies use the cloud but also brings the cloud directly into companies, in a way that provides choice and does not force them to use other services, and enables them consolidated control across the Cloud Services they do use."

John Incledon, Chairman of IDJ stated: "IDJ believe Vehera is a well and perhaps uniquely positioned cloud software and services company whose products offer compelling value for corporate and similar organisations. The products have already been developed with a SaaS business model that is demonstrating their value in the market. IDJ is proud to have backed Vehera's fully experienced management team to lead the company to success in this dynamic market."

Our Comments

IDJ also raised capital in storage companies Atempo/Quadratec and DICOM Group Plc.
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