There’s been a steady stream of venture capital activity in Seattle enterprise software companies in recent weeks, from the $50 million round for Apptio to the $19.5 million round for Opscode. Now, here comes another big deal.
Symform, the Seattle cloud storage startup, today is announcing $11 million in new financing led by WestRiver Capital with participation from OVP Venture Partners and Longworth Venture Partners. As part of the round, $3 million is being reserved for an undisclosed strategic investor.
Total funding in the company — founded by former Microsoft engineers Praerit Garg and Bassam Tabarra — now stands at $20 million. Symform didn’t disclose number of employees, but the company said that customer accounts grew by more than 100 during during the first quarter when compared to the fourth quarter.
“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,” said CEO Matthew J. Schiltz in a statement. Schiltz, the former CEO of DocuSign and CourtLink, joined the company last summer.
Competing against Box.net, Dropbox, Mozy and others, Symform offers up to 200 GB of free storage through a peer-to-peer data storage network. Symform’s technology is unique in that it allows users to contribute unused, local storage in exchange for free or flat-fee cloud storage.
As part of the latest round, WestRiver Capital’s Erick Anderson has joined the company’s board. It also has formed a new advisory board that includes Jon Gacek, CEO of Quantum; Dimitris Achiloptas, Professor of Computer Science at the University of California Santa Cruz; and Grant Peterson, CTO and Vice President of Engineering at DocuSign.