ownCloud Closes $6.3 Million Series A Funding Round

ownCloud, Inc. has closed a $6.3 million series A funding round, led by Devonshire Investors and existing investor General Catalyst Partners and joined by customers and existing angel investors.

John Raguin, MD, Devonshire, will join the company’s board where he previously served as a board advisor.

As employees sync, share and store more and more sensitive company data on consumer-grade file sync and share apps, enterprises face significant privacy, governance, regulatory and security exposure. ownCloud offers businesses an enterprise-grade file sync and share alternative to protect corporate data.

“We are very excited about ownCloud’s penetration into the enterprise file sync and share market, both through their robust and growing community, as well as the customers they’ve been attracting,” said Raguin. “This funding will enable them to grow even more quickly in this hot, very critical market.”

“No one else offers on-premises file sync and share that fully integrates with an enterprise’s existing security, governance and identity management tools,” said Larry Bohn, MD, General Catalyst Partners. “ownCloud gives businesses the choice of on-site, cloud or hybrid storage, all accessible through simple tools their employees will actually use.”

ownCloud will use the funds to expand marketing, sales and development efforts in the US and Europe.

“Getting this funding from Devonshire and General Catalyst is validation that we are solving a real problem,” said Markus Rex, CEO, ownCloud. “With all the concerns about data privacy and security, and the continuing proliferation of BYOD in companies, it is critical for companies to get back control of their sensitive corporate data, they can do that with ownCloud.”