SugarSync Completes $15 Million Series D

SugarSync, Inc., a free service that actively syncs files across all computers and devices, has completed a $15 million series D financing round.

It will use the funds to grow its team and expand its datacenter footprint to ensure the same level of service as the company continues to scale globally.

The investment round was led by new investor Coral Group and includes participation from existing investors Draper Fisher Jurvetson, Sigma Partners, Hatteras Venture Partners and Hercules. This brings SugarSync’s total funding to $50 million.

Yuval Almog of Coral Group has also joined SugarSync’s Board of Directors.

"We see a massive opportunity in the cloud services market as the proliferation of mobile devices continues," said Yuval Almog, Founder and Senior Managing Director of Coral Group. "SugarSync has the most robust and complete cloud solution for accessing, syncing and sharing files across all devices – regardless of platform. With fewer than 10 percent of all consumers using a cloud service today, this market is poised for explosive growth in 2012, and we believe SugarSync is best positioned to capitalize on that growth."

As consumer interest in the cloud continues to grow due to the need to keep an increasing number of devices in sync, global companies are performing head-to-head evaluations to determine the best partner to provide their customers with Cloud services. SugarSync has been selected as the cloud partner of Samsung, Lenovo, Fujitsu, SanDisk, France Telecom-Orange, Korea Telecom, SoftBank Mobile and more.

SugarSync will be introduced to over 100 million new customers via product integration with these partners in 2012.

SugarSync is a cloud solution that is built with the flexibility to sync all of your folders (not just one), is available on the most mobile devices (iOS, Android, BlackBerry, Windows Mobile and Symbian – with Windows Phone 7 coming soon), and is a true two-way sync solution for mobile devices.

SugarSync currently has millions of customers in over 100 countries.

"In 2011 we saw demand for the cloud grow exponentially, and at SugarSync we grew our user base 600 percent," said Laura Yecies, CEO of SugarSync. "While our many partners continue to help us grow globally, our direct business has seen tremendous growth as well. We continue to win millions of new customers who want a full-featured cloud that works the way they do – syncing all of their folders, not just one – on any Mac, PC and all mobile devices. And because the SugarSync Cloud is so much more robust than competitors, we see a significantly higher percentage of users who convert from free to paid customers."