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Symform Announces 220% Year-Over-Year Growth of Global Cloud Storage Network

Cliff Boodoosingh, Digital Content Manager on February 28, 2013
 
Customers Across 160 Countries Select Symform for Offsite Data Storage of More Than 193 Million Files; Recent NAR Financing and New CEO Appointment to Drive Continuous Momentum in 2013

SEATTLE, WA, Feb 27, 2013 (MARKETWIRE via COMTEX) -- Symform, a revolutionary, distributed cloud backup service, today announced record growth of its Global Cloud Storage Network in 2012, expanding its worldwide customer-base to 160 countries (up from 46 countries in 2011), and increasing the number of files stored by more than 220 percent. This network growth is the result of a momentous year for the company, which included introduction of a new 'Bytes or Bucks' pricing model, expansion of its executive team, numerous product enhancements and industry accolades, and attracting $11 million in Series B financing from Longworth Venture Partners, OVP, and WestRiver Management.

On the heels of these 2012 milestones, Symform has extended its success into the early part of 2013. In January, the company announced a strategic investment from Second Century Ventures, the investment arm of the National Association of Realtors, as well as the appointment of Mark Ashida, a long-standing Symform supporter and former OVP venture capitalist, as the company's new CEO.

"As an original seed investor in Symform, I've seen the company execute on and exceed its growth projections year after year. We've just begun to tap into the tremendous opportunity for bringing cost-effective and secure cloud services to the Prosumer and SMB markets using our distributed approach," said Ashida. "These milestones, including financing and expansion of the executive team, have positioned the company to accelerate our growth into 2013 and beyond."

Company highlights from 2012 include:        
        --  'Bytes or Bucks' Pricing: Further disrupting the market, Symform
            announced a new pricing model, enabling customers to pay for unlimited
            Symform cloud storage and backup entirely with excess local drive
            space.
        --  Extended Platform Support: Symform broadened the availability of its
            cloud storage offering to Mac and Linux users. Fedora, Ubuntu and
            CentOS distributions are supported. Symform also added new
            integrations for Synology and NETGEAR NAS devices.
        --  Strengthened Leadership Team: Symform has attracted top talent and
            leadership within the industry, with additions to the executive team,
            board of directors, and the creation of an advisory board. These
            appointments included CEO Mark Ashida; SVP of global sales, Bob
            DeSantis; and SVP of product development, Omri Gazitt. Constance
            Freedman, managing director of Second Century Ventures, also joined
            the Symform Board of Directors.
        --  Industry Recognition: Symform advances in 2012 did not go unnoticed.
            Symform and its team members received nine prestigious awards over the
            past year, including Cloud Computing World Series Best Cloud Storage
            Solution, Washington's 100 Best Companies to Work For, and most
            recently recognition of Bob DeSantis as a UBM CRN 2013 Channel Chief.
            To see a full list of Symform award wins, visit:
http://www.symform.com/about-us/awards-recognition/               


About Symform:

The Symform Cloud Storage Network is a better way to store and backup all of your data. As the world's first distributed and crowdsourced free online storage, Symform enables users to pay with bytes instead of bucks. Every business on the network contributes excess local drive space to the grid in exchange for secure, fast and reliable cloud data backup. Before data leaves the source device, it is encrypted and shredded, redundancy added, and then geo-distributed across the global network. With its proprietary and patented technology, Symform is building the world's largest virtual datacenter using existing Internet infrastructure. Go to www.symform.com or email info@symform.com for more information.

Symform, Symform Global Cloud Storage Network, the Resilient Storage Architecture, and RAID-96 are trademarks of Symform, Inc. References to other companies and their products acknowledge the trademarks owned by their respective companies and are for reference purposes only.

 

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