Cloud Engines, a US-based data storage company, has raised $15m for its series B round from from a consortium including investment bank Morgan Stanley’s Alternative Investment Partners (AIP) unit.
Alongside the investment bank in the round were venture capital firms Softbank Capital and Foundry Group, which had been the original backer of Cloud Engines.
Daniel Putterman, executive president of Cloud Engines having previously co-founded sold Mediabolic in 2007 to launch his latest company, said: "This financing allows us to accelerate our worldwide consumer retail channel expansion to make Pogoplug devices easy for anyone to purchase."
Jamey Sperans, managing director at Morgan Stanley AIP, said: "The company’s model for delivering unlimited cloud storage to users is both unique and well-timed given the tremendous growth of the global mobile device market."