Clickfree Raised $10 Million

Storage Appliance Corporation, marketer of Clickfree, a consumer backup software, has completed a $10 million (US) Series B share offering, with institutional funding led by Jefferson & Partners of Toronto, Canada and participation from the management team and existing investors.

Clickfree CEO Bryan McLeod said the funds raised will be used to drive continued rapid growth by the company and will fuel investments in customer acquisition, new product development and go-to-market efforts.

“We are very excited about our sales growth, especially during these challenging economic times, and we expect 2009 to be an exceptional sales year for us as consumers and businesses continue to discover what Clickfree offers in terms of protection and security for valuable digital content,” commented McLeod, chief executive officer of Clickfree. “Our impressive financial performance to date demonstrates the huge demand for a simple consumer backup solution and affirms the effectiveness of our business model.”

McLeod noted that businesses and consumers worldwide joining the digital age face the ever-present risks of viruses, computer crashes and lost data and Clickfree has developed the easiest solution on the market.

“Clickfree continues to offer an affordable and easy backup solution that protects customers from the inevitable loss of cherished and irreplaceable digital content,” he added. “This funding is helping us capitalize aggressively on a massive and untapped market and accelerate our pace of innovation.”

Clickfree has 23 unique patents pending that support a software platform that can be delivered on any storage media. Customers now have a simple solution for saving digital content that’s as easy as connecting any Clickfree product to a computer.

Clickfree devices are designed to automatically start, search, organize and backup digital files. Clickfree’s entire lineup of products is designed for the 85 to 95 percent of computer users who, research shows, fail to regularly backup content on their PCs because they do not have the time, desire or skill to install, set up and use confusing or complex software and hardware products.

“The Clickfree team has truly innovated the simplicity of computer back up and data protection for consumers and businesses worldwide,” said Ian Locke of Jefferson Partners. “The technology and quality behind each product has revolutionized the standards of what computer backup is today.”

All Clickfree products are available by ordering directly fon its Web site. Additionally, Clickfree products can be found at leading outlets such as Best Buy, OfficeMax, Walgreens, Amazon.com and Costco.com.