With more than seven million users growing at a rate of 200,000 per month,
YouSendIt will use the funds to expand its customer base and accelerate
product innovation
CAMPBELL, Calif., July 15 /PRNewswire/ -- YouSendIt, Inc. the trusted
global leader in digital content delivery, today announced a $14 million
series C round of venture capital financing from new investor Emergence
Capital and existing investors Sigma Partners, Alloy Ventures, Sevin Rosen
Funds and Cambrian Ventures.
Managing more than 10 million files each month for seven million users
worldwide, YouSendIt is recognized as the Internet standard for easily
sending, receiving and tracking files of all types.
The series C financing will help YouSendIt expand its customer base,
already growing by 200,000 users each month, and fund the development of
new innovations for YouSendIt's Web-based content-delivery and management
services.
"This new capital will allow us to accelerate adoption of our service
among businesses worldwide," said Ivan Koon, chief executive officer of
YouSendIt. "We also will continue to improve on collaboration and file
management functionality to enhance our customers' productivity and
efficiency."
Emergence Capital, focused exclusively on investing in SaaS and other
technology enabled services (TES) companies, led the new round, with
additional funds coming from prior investors Sevin Rosen Funds, Alloy
Ventures, Sigma Partners and Cambrian Ventures.
"YouSendIt is the leader in digital content delivery on the Web, and
we're confident this market will greatly expand as file sizes of all types
grow and as more and more businesses embrace easy-to-use solutions that
provide more efficient management and collaboration," said Brian Jacobs,
general partner of Emergence Capital and newest YouSendIt board member.
"YouSendIt is continuing to expand its service offerings, providing a
natural workflow extension for businesses of all sizes in all industries."
Jacobs assumes a seat on the YouSendIt board of directors, joining Bob
Spinner, managing director at Sigma Partners; Ammar Hanafi, general partner
at Alloy Ventures; Nick Sturiale, partner at Sevin Rosen Funds; Edward
Kozel, former CEO of Skyrider; Ranjith Kumaran, founder and CTO of
YouSendIt; and Ivan Koon, CEO of YouSendIt.
YouSendIt is a winner of CNET's 2008 Webware 100 Awards in the Utility
& Security category and a Network Products Guide Winner in Product
Innovation, Software-as-a-Service. YouSendIt was also positioned in the
Visionaries Quadrant in Gartner, Inc.'s Magic Quadrant for Managed File
Transfer (L. Frank Kenney and James Lennard, June 23, 2008). Additionally,
YouSendIt was named a finalist for a Stevie Award in the Sixth Annual
American Business Awards Best New Product -- Computer Services category.
Hailed as "the business world's version of the Oscars," the American
Business Awards is the only national, all-encompassing awards program
honoring great performances in business.
YouSendIt allows business professionals to integrate digital file
management into their daily workflow through solutions such as YouSendIt
Express, which allows users to send files directly from their desktop, and
plug-ins for Microsoft Outlook, Adobe Photoshop, CorelDRAW and Aperture.
For more information about these solutions and all other YouSendIt
offerings, please visit http://www.yousendit.com.
About Emergence Capital
Emergence Capital Partners, based in San Mateo, Calif., is the leading
venture capital firm focused on early and growth-stage technology-enabled
services (TES) companies. Its mission is to help build TES market leaders
in partnership with great entrepreneurs. Emergence partners have funded and
helped build more than 40 TES companies, including Salesforce.com,
SuccessFactors and HireRight. Emergence Capital has assets of more than
$325 million under management. For more information, visit
http://www.emcap.com.
About YouSendIt
YouSendIt is the number one digital delivery company serving businesses
and individuals on the Web today. More than seven million people trust
YouSendIt to instantly and securely send, receive and track their valuable
business and personal digital content, everything from time-critical
documents to important videos, graphics, photos and music. YouSendIt's
technology platform provides developers and partners the resources for
integrating YouSendIt services into the applications people use for
creating or communicating. Integrating YouSendIt makes reliable, private,
express delivery of digital content a routine part of people's daily life.
About the Magic Quadrant
The Gartner Magic Quadrant is copyrighted June 2008 by Gartner, Inc.,
and is reused with permission. The Magic Quadrant is a graphical
representation of a marketplace at and for a specific time period. It
depicts Gartner's analysis of how certain vendors measure against criteria
for that marketplace, as defined by Gartner. Gartner does not endorse any
vendor, product or service depicted in the Magic Quadrant, and does not
advise technology users to select only those vendors placed in the
"Leaders" quadrant. The Magic Quadrant is intended solely as a research
tool, and is not meant to be a specific guide to action. Gartner disclaims
all warranties, express or implied, with respect to this research,
including any warranties of merchantability or fitness for a particular
purpose.
SOURCE YouSendIt, Inc.
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Related links:
http://www.yousendit.com
http://www.emcap.com
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