Friday, January 16, 2009

Sigma helps fund $10M round for Calif. backup firm

Video Gallery

In their own words: David Chang, co-founder/VP of marketing, Snapmylife.com

In their own words: Sanjay Vakil, founder, LuckyCal Inc.

MHT Editor Doug Banks on NECN: How companies are using social media

Related News

Newest Charles River Ventures fund closes at $320M [March 30, 2009]

Inside New York/New England connections: N.Y. new media pull from Boston VCs, technology [January 9, 2009]

ExaGrid VC round raises $12M [December 18, 2008]

Sigma sets up $10M round for Calif. cloud firm Zetta [September 15, 2008]

Expressor garners $10M in second VC round [August 27, 2008]

Venture capital firm Sigma Partners of Boston has participated in a $10 million Series AA financing round for Sharpcast Inc., a San Mateo, California-based online data services provider.

Sharpcast’s flagship product, SugarSync, manages online data back-up, storage and synchronization for the consumer market. The product is designed to synchronize data and allow file sharing among multiple consumer devices.

Sigma managing director Greg Gretsch has a seat on Sharpcast’s board. In a statement, Gretsch cited the viability of Sharpcast’s business model and said the company is well positioned to grow quickly when the economy improves.

Gretsch’s investment portfolio also includes Attributor, Jellyvision, oDesk, Responsys and Zetta. He was an investor in EqualLogic Inc., acquired by Dell last January for $1.4 billion in the largest merger and acquisition deal of 2008.