MiMedia is a slick personal cloud storage service for all of your photos, videos, music and other files. It has flown under the radar since the team started building it back in 2010, but it looks like the company is now ready to make a bit of a splash.
New York-based MiMedia today announced that it has raised a $15 million Series C round. What’s a bit unusual about this round is that it isn’t led by traditional VCs but by a number of global family offices. The round also includes a strategic investment from Indian smartphone manufacturer Micromax Informatics. With this round, MiMedia has now banked a total of $35 million in funding.
As MiMedia CEO Chris Giordano told me, working with family offices can often be easier than dealing with VCs. He also stressed that many of these groups manage huge funds and have become increasingly sophisticated about their tech investments. In putting this round together, it surely didn’t hurt Giordano that he has a background in working at venture capital and private equity firms before he started MiMedia.
I hadn’t really heard of MiMedia before talking to Giordano, but after testing it a bit, it’s clear that the company offers a nice alternative to Google, Dropbox and other cloud storage services.
As Giordano stressed when I talked to him, the team believes that while these competing services offer a range of features, they don’t really offer a coherent experience for regular users who want to keep all of their files in a single place (and who may not trust Google with all of their data, for example). Unlike these services, MiMedia also puts a clear emphasis on sharing within small groups, which may make it a better alternative for families than some of its more business-oriented competitors.
The service is available on the web, as well as on iOS and Android. The company also offers desktop uploaders for Windows and OS X users. Users on its free tier get access to 10GB of storage. Paid plans start at $7.99 per month.
MiMedia plans to use the new funds to accelerate its growth and support its global distribution partnerships. As the company told me, it’s also now piloting its platform in select RadioShack locations in Chicago, Dallas, Los Angeles and New York City. It plans to launch nationally with RadioShack later this year (yep, RadioShack is still a thing).