Storage - Friday, May 18, 2007
FIM's Levinsohn Joins MyFabrik Board. Co. Raises $25M
A few weeks after Fabrik acquired the consumer product business of SimpleTech, Fabrik has secured $24.9M of a $34.2M Series D round and former Fox Interactive Media chief Ross Levinsohn has joined the board.
Based in Santa Ana, CA, SimpleTech is the No. 3 US provider of hard disk drive-based external, portable and network storage solutions for consumers and small businesses. Fabrik acquired the consumer business unit in a cash transaction valued at approximately $43M.
Fabrik is a San Mateo, CA-based host of online storage for large files. We reported on this competitive market recently and found that Amazon Services connected Jungle Drive has a competitive advantage over companies like Fabrik. 3i Group led the deal, along with return backers ComVentures and Intel Capital.
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