Symform, a US-based provider of a cloud storage network, has raised an undisclosed amount from Second Century Ventures (SCV), the corporate venturing unit of the National Association of Realtors, as part of a previously-announced $11m series B round closed in April.
Constance Freedman, managing director of Second Century Ventures, will join the Symform board.
The venture capital firms in the original B round were WestRiver Capital, OVP Venture Partners and Longworth Venture Partners. Longworth led the $4m A round in July 2010.
Matthew Schiltz, chief executive of Symform, said: “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.”
Dale Stinton, president of SCV and chief executive of the association, added: “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 back-up solution.”