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SugarSync Finalises $15 Million Series D Round

CloudNews
by Mariel Norton, 29 Feb 2012News

Cloud based syncing service provider SugarSync has announced that the company has managed to raise an impressive $15 million series D round.

SugarSync further stated that the fund would be used in order to expand its team as well as beef up its existing datacentre infrastructure, which will help the company immensely in implementing its plans to emerge as a key global provider of syncing services.

The series D investment round was captained by SugarSync's new investor Coral Group, with other existing investors including Sigma Partners, Draper Fisher Jurvetson, Hercules and Hatteras Venture Partner.

Following the completion of this latest round, the total funding raised by the company has touched the $50 million milestone figure. SugarSync also boasted that its services will be made available to as many as 100 million new customers with the assistance of these partners throughout the year.

"We see a massive opportunity in the Cloud services market as the proliferation of mobile devices continues. SugarSync has the most robust and complete Cloud solution for accessing, syncing and sharing files across all devices -- regardless of platform," Yuval Almog, Founder and Senior Managing Director of Coral Group said in a Marketwire statement.

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