CAMPBELL, Calif. – August 03, 2010 – YouSendIt, the global leader in secure digital content delivery, announced today that the company has raised a $15 million Series D round of venture capital financing from new investor Adams Street Partners and existing investors Emergence Capital, Sigma Partners and Alloy Ventures. The funding will be used to accelerate growth and increase market share.
"YouSendIt has witnessed significant growth and momentum since its inception in 2004, and the Series D funding will permit us to further extend our market leadership position," said Renee Budig, chief financial officer at YouSendIt. "Global businesses are evolving and demanding more collaborative work environments and this funding will enable YouSendIt to support the changing needs of businesses by offering more valuable services."
Adams Street Partners, one of the largest managers of private equity investments in the world, led the new round with additional funds coming from prior investors Emergence Capital, Sigma Partners and Alloy Ventures.
"YouSendIt has rapidly proved its value proposition of offering fast, easy and secure digital file delivery," said Robin Murray, partner at Adams Street Partners. "We anticipate that this financing will provide a foundation for the company to extend its value to a new generation of customers and bring to market new capabilities for the enterprise market."
In conjunction with the investment, Murray was named as an observer to the YouSendIt board of directors. Murray joins directors Brian Jacobs, general partner at Emergence Capital; Bob Spinner, managing director at Sigma Partners; Ammar Hanafi, general partner at Alloy Ventures; Nick Sturiale, general partner at JAFCO; Brett Caine, senior vice president and general manager, online services division at Citrix Systems; Ranjith Kumaran, founder and CTO of YouSendIt; and Ivan Koon, CEO of YouSendIt.
About Adams Street Partners
Adams Street Partners is one of the largest managers of private equity investments in the world. It is an independent employee-owned investment firm that provides private equity fund of funds and direct partnership capabilities to institutional clients. Currently, Adams Street Partners manages more than $20 billion in private equity assets for clients in Australia, Japan, North America, the U.K. and Europe. Adams Street Partners is well-known internationally for its continuous commitment to, and deep understanding of, private equity and a unique dedication to client service. Together with its predecessor organizations, Adams Street Partners has a long history of investing in private equity partnerships (since 1979) and managing direct investments in private equity (since 1972) and is credited as being a pioneer in fund of funds investing, creating its first such offering in the late 1970s. For more information, visit www.adamsstreetpartners.com.
Founded in 2004, YouSendIt was working in the cloud before the term was even coined. At first the service was a simple way to send the large attachments that email couldn’t process, but has since grown to become a robust suite of online file storage and management capabilities. Today, the company serves 40 million registered users across 193 countries and 98 percent of the Fortune 500. Aside from offering professionals an easy-to-use collaboration solution, YouSendIt’s renowned reliability, untouched data security and endless innovation make it the go-to solution for businesses, big and small.