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, 2008 – 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 www.emcap.com.
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.
Hightail (formerly YouSendIt) helps more than 40 million professionals around the world securely share and control files from anywhere.