pCloud, a cloud storage provider established by a group of IT specialists and global entrepreneurs, headquartered in Switzerland, has raised $3 million of funding to expand the company’s presence to new international markets.
pCloud provides companies with “military-level” client-side encryption products to protect sensitive corporate data. This is the first time that the cloud storage company has received funding of any kind. The funding round is supported entirely by private investors with strong IT background.
pCloud plans to expand its partnership network and build representative offices in Western Europe, the United States and selected emerging markets. The investment will help scale the platform into the key markets they’ve been aiming for, according to Tunio Zafer, CEO of pCloud.
“The cloud storage space is highly competitive right now, and this financial backing gives us some security to take bigger steps,” said Mr. Zafer. “We have a solid client base in Europe and Asia, and we’re eager to expand to new markets. Our investors are making this a reality.”
Over the past six months, pCloud has doubled its user base and now boasts more than two million registered users worldwide. The company has been ranked by CNET as one of the best cloud services for data backup.
New Security Features
The cloud storage provider will also enhance its focus on building up the client base for pCloud Business, a cloud storage service for organizations that was launched in June. “Every business has different needs, and pCloud Business can adapt to these needs in any industry,” added Zafer. “As more businesses move to the cloud, we want our unique business platform to reach those companies who are ready to follow suit. Our goal is to make both pCloud and pCloud Business more recognized names in the cloud storage space in the coming years by targeting small and medium-sized companies now.”
By the end of the summer, pCloud has planned to launch its client-side encryption feature for iOS and Android mobile devices. The company has also planned to expand its security features of pCloud Business by the end of the year with an entirely encrypted solution.