Enterprise Cloud File Sharing Provider Accellion Secures $12 Million

Next Story

It’s Official: Yahoo Announces PayPal President Scott Thompson As Its New CEO

Enterprise cloud file sharing company Accellion has raised $12 million in a new Series 3 round from private equity firm Riverwood Capital. The company will use the additional funding to accelerate growth, invest in enterprise mobile file sharing products, pursue partnerships and international expansion.

Founded in 1999, Accellion’s cloud-based solutions span public, private and hybrid cloud deployment, for secure, any device access to information while providing enterprise security and compliance. The company’s file-sharing solutions are available to users from the Web, iPhone, iPad, Android and BlackBerry devices.

CEO Yorgen Edholm says 2011 was a profitable year with record revenue – something he credits, in part, to the adoption of consumer-grade technologies in the enterprise.

“The adoption of iPads and the resultant use of unmanaged ‘dropbox-type’ applications are creating real security and compliance issues for organizations. Smart companies, proactively meeting the challenge and looking for a solution for secure, mobile access to enterprise content, are fueling our rapid growth.”

Riverwood Capital joins Baring Private Equity Partners Asia as key investors in Accellion.