Praerit Co-Founded Disruptive Cloud Storage Startup Symform Raises $11 Million


Praerit Co-Founded Disruptive Cloud Storage Startup Symform Raises $11 Million

Seattle: Symform, a disruptive cloud storage startup, has raised $11 million in series B round of funding to fuel the continued growth and global expansion of the company’s cloud storage network. Led by WestRiver Capital, the series also witnessed the participation from existing investors OVP and Longworth Venture Partners.

The company has closed $8 million and reserved up to $3 million in the series to add a strategic investor in 2012, bringing the total fund raised in this series to $11 million and total of $18.5 million till date in previous round of funding. As part of the deal, Erik Anderson of WestRiver Capital will join the Symform Board of Directors.

Founded in 2007 and based out of Seattle, Washington, Symform was co-founded by Praerit Garg and Bassam Tabbara as a company that develops cost effective solutions to large scale distributed data management problems. Before Co-Founding Symform, Garg was a Senior Director in Microsoft’s Server and Tools division, where he built and managed the Dynamic Systems Platform and Tools team.

“Symform is a fundamentally superior way to store data in the cloud, and our continued strong growth and access to growth capital further validates that Symform is uniquely positioned to permanently disrupt the global cloud storage and backup market. We have an amazing team of employees, investors and advisory board members who are building Symform into a global standard for cloud storage and backup,” said Matthew J. Schiltz, CEO, Symform.

The Symform Cooperative Storage Cloud is a solution that combines the best practices of disaster recovery, data security and distributed networking using the power of Internet. Symform, Symform Global Cloud Storage Network, the Resilient Storage Architecture, and RAID-96 are trademarks of Symform.

The company has active users in 138 countries, up from 46 at the end of 2011. Along with fund raising, the company announced the launch of a new Advisory Board featuring industry leaders and technology experts. The board includes Jon Gacek, CEO of Quantum; Dimitris Achiloptas, Professor of Computer Science at the University of California Santa Cruz; and Grant Peterson, CTO and VP of Engineering at DocuSign.