Xdrive Scores $50M
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Xdrive Technologies Inc., a leading provider of infrastructure software and services that enable intelligent information access and management, today announces $50 million in secured Series D funding.
Investors included StorageNetworks, Network Appliance, Aether Systems, Mitsubishi Corporation, NEC Corporation, Pilot House Associates and SOFTBANK Corp.
Reinvesting in Xdrive Technologies in this strategic round were Wit SoundView Ventures, an affiliate of Wit SoundView Group, Goldman Sachs Group and J. & W. Seligman & Co. Inc, among others. The current round of financing brings Xdrive's total financing to more than $120 million.
The participation in this financing by leading strategic investors in the storage, hardware and wireless space bodes well for the future of the online storage provider turned enterprise infrastructure software and service company. Significant in this round is SOFTBANK of Japan, which views Xdrive Technologies as an international opportunity, and Aether, which considers Xdrive Technologies a useful wireless value-add solution.
"Because Aether is a global leader providing wireless data solutions, partnering with an industry leader such as Xdrive Technologies is well aligned with our vision to provide real-time access to information anywhere, anytime, on any device, across a broad range of markets," said Brian W. Keane, executive vice president, corporate development of Aether.
The strategic round will support Xdrive's recently announced new product offerings, Xdrive Enterprise and Xdrive Express. Xdrive Enterprise offers intelligent information access and management solutions for service providers, telco carriers and the enterprise. The product suite includes a Private Label program, which enables companies to custom-brand the file access and Internet storage solution to their end-users. Xdrive Express boasts an individual user base of more than 6.7 million, acquiring an average of 20,000 new users per day.