UPDATED 14:30 EDT / JULY 21 2011

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.


A message from John Furrier, co-founder of SiliconANGLE:

Your vote of support is important to us and it helps us keep the content FREE.

One click below supports our mission to provide free, deep, and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger, and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy

THANK YOU