Cloud Storage Company CX gets $5 Million in Funding

CX, a cloud storage and SaaS data file management system, has recently managed to raise $5 million in a new round of funding. This funding round has been led by Eric Schmidt’s Tomorrow Ventures, with the participation of Hanna Capital. With this new amount of funding received, the company has managed to raise by the moment a total amount of funding of $10 million. This is a start-up company which has launched at the beginning at the year and has had a great evolution, managing, so far, to also acquire a fellow cloud-based file storage company named FileDen. At the moment, the financial terms of the acquisition report have not been disclosed, but there rumors on the market saying that the deal has been made based in a mixture of stock and cash.

The company produces systems which give customers the opportunity of backing-up, synchronizing, sharing and managing their data inside of the cloud, by using a technology from any device to any device, across numerous types of platforms, including desktops, laptops, netbooks and mobile devices. The advantages offered by CX have to do with the ability of their system of synchronizing all the data in the cloud, the new, changed, offline or deleted files, to all the connected computers and devices. Moreover, the platform has the ability of maintaining a history of all the changes one has made in the system. There are also high-quality features which allow a real time back-up system, but which also allow you to share a single set of synchronized files with a group of people and more.

Brad Robertson, the CEO of CX, announces that the platform also provides a system which sorts through the metadata of files which are being uploaded in order to give users the possibility of viewing and of moving through the files on the basis of the data included in them. CX also provides a freemium model of the system which, based on their storage needs, customers can use after paying as much as $40 per month for additional storage. At the moment, the space which is put for free to the disposal of clients by CX is that of 10 gigabytes.

It is recently that CX also revealed that it has acquired FileDen. The company justified this purchase through a multitude of reasons, but especially due to the fact that the new company brings CX’s combined base to the amount of 3.5 million users. Moreover, the storage platform of FileDen also has the advantage of bringing additional functionality to CX, such as an MP3 Convertor which can be used in order for clients to store their music in the cloud.

This new amount of capital and the new acquisition the company has made should help CX manage to advance on the market and gain back some of the territory which has already been occupied by the more popular cloud storage platforms, such as Dropbox, Box.net and SugarSync.