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General Catalyst provides seed capital for software start-up ownCloud

26 Nov 2012

US and Germany-based enterprise data company OwnCloud has closed a second seed round, led by existing investor General Catalyst Partners.

Based on the ownCloud open source community project, ownCloud Inc was founded in 2011 to bring greater flexibility, access and security to unstructured data in enterprises. Company headquarters are in Boston, with European headquarters in Nuremberg, Germany.

The company will use the funds to further expand its sales channel, “aggressively expand” its large enterprise and education customer base and support service providers.

The company also announced that General Catalyst managing director Larry Bohn will join the company’s board of directors.

“We were very encouraged that many of our current investors – including General Catalyst – were so impressed by our momentum that they came to us for this round,” said Markus Rex, ownCloud CEO. “We’re also happy to welcome several new investors and of course Larry to our board.”

“We’ve been excited about ownCloud since its infancy, and after watching everything they’ve accomplished in a very short time, it validated our belief that they’d developed an exceptional team with an exceptional product,” added Bohn. “There’s no one in this increasingly crowded market that can do the things ownCloud does – integrate closely with existing IT, innovate at lightning speed and offer choice of storage locations. With those capabilities already in place differentiating it from the competition, we’re confident that ownCloud will succeed.”

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