Smyform Closes Strategic Investment From Second Century Ventures

Smyform Closes Strategic Investment From Second Century Ventures

Deal Includes Financing and a Strategic Partnership from the Venture Capital Fund of the National Association of REALTORS®

Seattle, Wash. – January 16, 2013Symform, a revolutionary, distributed cloud backup service, today welcomed Second Century Ventures (SCV), the venture capital fund of the National Association of REALTORS® (NAR), as a strategic investor in the company. SCV joined Symform’s $11 million Series B round of funding from 2012, which included financing from Longworth Venture Partners, OVP Venture Partners, and WestRiver Capital.

Second Century Ventures is committed to identifying and helping develop technology solutions that help our REALTOR® members maintain a competitive edge while growing their businesses,” said Dale A. Stinton, president of SCV and NAR chief executive officer. “As the volume of electronic information continues to grow, proper data backup and protection is becoming mission-critical for all businesses everywhere. Symform is a great fit in our investment portfolio and is also tailor-made for REALTORS®, who have a strong need for a cost-effective cloud data backup solution.

Symform is disrupting the multi-billion dollar global cloud data backup market with our unique decentralized solution,” said Matthew J. Schiltz, CEO of Symform. “Our strategic partnership with Second Century Ventures will put our unlimited cloud storage offerings into the hands of the member base of NAR, the largest trade association in the United States. This investment is an important validation of our model, and is additional momentum as we build the world’s largest virtual datacenter.”

Symform offers mid-market customers and IT resellers the most affordable, secure and reliable cloud storage and backup solution on the market today. The company will use the SCV financing to power product development and accelerate the adoption of Symform. The announcement caps a record-setting year for Symform, as the company’s Global Cloud Storage Network now reaches active users in 160 countries that trust Symform to store over 7 billion data fragments.

As part of the investment, Constance Freedman, managing director of Second Century Ventures, will join the Symform Board of Directors. As managing director at SCV, Freedman manages all aspects of the fund, from cultivating investment opportunities to helping portfolio companies achieve their strategic goals. Freedman is also NAR’s vice president of strategic investments, where she assesses key strategic investment initiatives within NAR.

For more information, or to join the Symform revolution, please visit www.symform.com.

About Second Century Ventures

Second Century Ventures (SCV) is a venture capital fund focused on promoting innovation in the real estate industry and helping to enable the entrepreneurial spirit of real estate thrive. SCV has been fully capitalized by the National Association of REALTORS® (NAR). With 1 million members, NAR is the largest trade association in the country. NAR can provide immediate strategic value to Second Century Ventures’ portfolio companies by allowing them access to the vast resources of a 300-person organization with expertise, influence and power that comes only by being ingrained in an industry for over 100 years.

About the National Association of REALTORS®

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

About Symform

The Symform Cloud Storage Network is a better way to store and backup all of your data. As the world’s first distributed and crowdsourced free online storage, Symform enables users to pay with bytes instead of bucks. Every business on the network contributes excess local drive space to the grid in exchange for secure, fast and reliable cloud data backup. Before data leaves the source device, it is encrypted and shredded, redundancy added, and then geo-distributed across the global network. With its proprietary and patented technology, Symform is building the world’s largest virtual datacenter using existing Internet infrastructure. Go to www.symform.com or email info@symform.com for more information.

Follow Us!

CloudTweaks

Established in 2009, CloudTweaks.com is recognized as one of the leading authorities in cloud computing information. Most of the excellent CloudTweaks articles are provided by our own paid writers, with a small percentage provided by guest authors from around the globe, including CEOs, CIOs, Technology bloggers and Cloud enthusiasts. Our goal is to continue to build a growing community offering the best in-depth articles, interviews, event listings, whitepapers, infographics and much more...
Follow Us!
FacebookTwitterLinkedInGoogle+Share

Sorry, comments are closed for this post.

Join Our Newsletter

Receive updates each week on news, tips, events, comics and much more...

Advertising Programs

Click To Find Out!

Sponsored Posts

Sponsored Posts

CloudTweaks has enjoyed a great relationship with many businesses, influencers and readers over the years, and it is one that we are interested in continuing. When we meet up with prospective clients, our intent is to establish a more solid relationship in which our clients invest in a campaign that consists of a number of

Popular

Top Viral Impact

Cloud Infographic: Cloud Computing Growth

Cloud Infographic: Cloud Computing Growth

An excellent infographic provided by AwesomeCloud which predicts a continued high level of growth in the cloud computing industry. Potentially staggering numbers for Public Cloud IT Services of $100 Billion by 2016. Infographic Source: AwesomeCloud About Latest Posts Follow Us!CloudTweaksEstablished in 2009, CloudTweaks.com is recognized as one of the leading authorities in cloud computing information. Most of the

5 Ways The Internet of Things Will Drive Cloud Growth

5 Ways The Internet of Things Will Drive Cloud Growth

5 Ways The Internet of Things Will Drive Cloud Growth The Internet of Things is the latest term to describe the interconnectivity of all our devices and home appliances. The goal of the internet of things is to create universal applications that are connected to all of the lights, TVs, door locks, air conditioning, and

Can I Contribute To CloudTweaks?

Yes, much of our focus in 2015 will be on working with other influencers in a collaborative manner. If you're a technology influencer looking to collaborate long term with CloudTweaks – a globally recognized leader in cloud computing information – drop us an email with “tech influencer” in the subject line.

Please review the guidelines before applying.

Whitepapers

Top Research Assets

HP OpenStack® Technology Breaking the Enterprise Barrier

HP OpenStack® Technology Breaking the Enterprise Barrier

Explore how cloud computing is a solution to the problems facing data centers today and highlights the cutting-edge technology (including OpenStack cloud computing) that HP is bringing to the current stage. If you are a CTO, data center administrator, systems architect, or an IT professional looking for an enterprise-grade, hybrid delivery cloud computing solution that’s open,

Public Cloud Flexibility, Private Cloud Security

Public Cloud Flexibility, Private Cloud Security

Public Cloud Flexibility, Private Cloud Security Cloud applications are a priority for every business – the technology is flexible, easy-to-use, and offers compelling economic benefits to the enterprise. The challenge is that cloud applications increase the potential for corporate data to leak, raising compliance and security concerns for IT. A primary security concern facing organizations moving