Wednesday, June 20, 2012

Bitcasa Raises $7M For Online Storage Service

Mountain View-based Bitcasa, the provider of a cloud-based, storage service, said today that it has raised $7M in a Series A funding round. The round came from Pelion Venture Partners, Horizons Ventures, and Andreessen Horowitz, First Round Capital, CrunchFund, and Samsung Ventures. Bitcasa's storage service uses client-side encryption, compression, an deduplication to enable users to store what the firm says is an "infinite" amount of data to the cloud. Bitcasa is led by Tony Gauda, and its founders include former Mozy and Mastercard employees. More information »