$10 Million Round for SugarSync

ORIX Venture Finance announced the closing of $10 million in new financing for SugarSync, Inc.

It will use these funds, in addition to funds from its recent series D financing round to accelerate the expansion of its datacenter footprint as the company continues its growth.

"SugarSync is clearly the technology leader in the fast growing cloud storage, sync and sharing market, and as a result consumers are flocking to the service," said Michael David, MD and co-head of ORIX Venture Finance. "In addition to mass consumer adoption of the service, some of the world’s leading brands have selected SugarSync as their cloud partner. This combination is driving SugarSync’s worldwide expansion, and we are proud to help enable their continuing growth plans."

SugarSync is selected by consumers and brands around the world because it is a only cloud solution that is built with the flexibility to sync all of a user’s 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 worldwide.

"With constant 400-600% year-over-year growth, we remain committed to expanding our datacenter footprint globally to ensure that we can continue to scale and provide the best cloud service for our ever increasing user base," said Peter T. Chantel, CFO of SugarSync. "ORIX is an excellent, strategic finance partner for us as we continue our expansion."

SugarSync has been selected as a cloud partner by brands including Samsung, Lenovo, Fujitsu, SanDisk, France Telecom-Orange, Korea Telecom, SoftBank and more.