Capital Injection for SMEStorage

SMEStorage has accepted an equity capital investment to aid it’s continued growth in 2011.

SMEStorage is a privately-owned company that achieved profitability in Q4 2010. SMEStorage focuses on cloud data access and management across operating systems and mobile devices for individuals and business users.

Unlike other data access providers, SMEStorage enables an open platform in which any of over 15 storage providers can be accessed simultaneously with aggregated data being presented in a virtual cloud file system. SMEStorage enables businesses to move their fileserver to the cloud using combinations of their preferred file providers, such as Amazon S3 and Google Docs, for example.

The company has also announced that Dan Stone has become a shareholder and been appointed to be an advisor to the board. Mr. Stone has been a technology professional for more than 25 years. His experience includes software product development and management, technical consulting, and senior IT management roles at Lehman Brothers, Barclays Capital and Standard Bank. He has lived and worked in New York, Tokyo, London, and Prague, where he is currently CIO at a leading central European investment bank.

Mr. Stone holds a bachelor’s degree in Computing Science from Columbia University, and an MBA from Fordham University.

CEO Ian Osborne stated: "I am pleased to be able to announce the small capital funding round we have just completed. It will provide us enough capital to fulfill our expansion objectives in 2011 whilst not compromising our push towards continued profitability."

"I am also very pleased to welcome Dan as an advisor to the SMEStorage board. His experience in business and the IT industry will prove invaluable as we continue to expand, especially in AsiaPac where SMEStorage recently broke into the top 65,000 websites used in China, as reported by Alexa."

Osborne finished with saying: "We are in an exciting space with an exciting technology that covers not only cloud, but also mobile working, two of the biggest growth areas as predicted by analysts for the next 5 years. We continue to attract investor enquiries, who recognise our huge potential, and which we welcome as we review our longer term market opportunity. We are keen to manage sustainable growth, whilst also seeking to attract and work with individuals and investors who can help us achieve the best market position and optimise shareholder value."