CX.com Raises $5M for Cloud Storage, Acquires Competitor
CX.com, a cloud storage and syncing service similar to Dropbox, Box.com and many others currently on the market, has just made a major step forward. The company received $5 million in capital from Tomorrow Ventures and Hanna Capital, raising its total funding to $10 million.
CX.com comes with a freemium model and a number of features including a log of changes that have been made to files stored on the service, real-time backup and “mass-sync”, among others. Users can get 10GB of storage for free and can choose from a number of subscription plans that can go as high as $40/month.
“CX’s CEO Brad Robertson tells us that platform also sorts through the metadata of files being uploaded, allowing users to view and move through files based on data included,” reports TechCrunch.
CX.com may not be among those biting away significant market share from the main players in the cloud storage space yet, but it is certainly gaining momentum. Along with the news of its latest funding we’ve learned that the company has acquired FileDen, another cloud storage provider for an undisclosed amount. Financial terms were not disclosed, but chief executive Mike Lindenau indicated that a mix of stock and cash was paid out to owner myCloud Holdings, and a press release noted that no employees were dismissed as a part of the merge.
CX.com acquired FileDex for a number of reasons. One of them was to strengthen its portfolio with some of the features the latter offers such as an MP3 convertor, while another has to do with FileDen’s user base. Now that the two companies merged, CX.com has a total of 3.5 million users.
CX.com is growing, but, it has a lot of competition to tackle. Dropbox, one of the biggest players on the market, is also planning to obtain some funding of its own. The company is reportedly in talks with investors to raise a sum ranging between $200 million and $300 million.
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