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Storage - Friday, October 31, 2008

Cloud Computing Helps Data Sharing Syncplicity Raise $2.35 Series A

Cloud computing is the latest buzz term driving up valuations and San Francisco's Syncplicity is benefiting from the hype with a Series A round of $2.35M lead by True Ventures. Syncplicity's take on cloud computing is a file sharing service that allows users to access their files on a friend's computer, your local Kinkos branch, or an iPhone. Syncplicity can also save multiple versions of a file so everyone at a pr firm can offer their 2 cents on a client's funding release without creating an unmanageable document.

Current start-up competitors Dropbox and SugarSync only offer some of Syncplicity's features, but they do have Sequoia Capital and Draper Fisher Jurvetson in their respective corners. Even though we're not convinced of the size of the market opportunity, those two Sand Hill Rd. heavyweights wouldn't be investing if they didn't see some growing valuations in the near future.

Syncplicity is using their newly acquired cash to continue building out the service for their launch later this year. We really hope Syncplicity focuses their efforts on creating a Mac platform as Steve Jobs devotees currently need to think about using one of their competitors.