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ORIX Venture Finance Provides SugarSync New Financing

ORIX Venture Finance today announced the closing of $10 million in new financing for SugarSync. SugarSync 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 rapid global 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, Managing Director 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 consistently selected by consumers and brands around the world because SugarSync is the 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 the industry’s only true two-way sync solution for mobile devices. Industry experts also repeatedly select SugarSync as the best-of-breed Cloud service, citing the same strengths. As a result, SugarSync currently has millions of customers in over 100 countries worldwide.

“With constant 400-600 percent 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 emerged as a leader in the Cloud storage, sync and share market, and has been selected as a Cloud partner by brands including Samsung, Lenovo, Fujitsu, SanDisk, France Telecom-Orange, Korea Telecom, SoftBank and more. These partners, as well as the viral growth of SugarSync’s millions of direct users, have driven SugarSync’s swift worldwide growth.

About SugarSync

SugarSync is a free service that helps you sync your life. With a simple download on your computers and mobile devices, you have access to all the Cloud has to offer. Need access to all your files from any computer or mobile device? Check. Need to sync your stuff across all your devices? Definitely. Need to share large files or folders with your friends? Yes, we do that too. We’re truly a one-stop shop for the best of the Cloud.

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