Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

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January 04, 2012

Accellion Receives $12M Funding from Riverwood Capital



Accellion, Inc., a provider of mobile, cloud-based file sharing and collaboration solutions, secured a $12M funding from Riverwood Capital, a technology-focused private equity firm.

“We have just ended a profitable year of record revenue and customer growth for the company,” Yorgen Edholm, chief executive officer of Accellion said in a press release.

“The adoption of iPads and the resultant use of unmanaged ‘dropbox-type’ applications are creating real security and compliance issues for organizations. Smart companies, proactively meeting the challenge and looking for a solution for secure, mobile access to enterprise content, are fueling our rapid growth. We are pleased to partner with Riverwood to help us take full advantage of these market conditions and reach the company’s growth potential for the coming years,” Edholm added.

As indicated, the new funding follows a record year for new customer growth, revenue, profitability and positive cash generation.

Accellion said that it will use the investment to accelerate its rapid growth, continue to invest in the development of enterprise-grade mobile file sharing product offerings, pursue strategic partnerships, and grow the its team internationally.

Founded in 1999, Accellion has been specializing in enterprise file sharing solutions that enable secure anytime, anywhere, any device access to information while ensuring enterprise security and compliance. Accessible to employees and external users from the Web, iPad, iPhone, Android (News - Alert) and Blackberry mobile devices, Accellion secure file sharing solutions is noted to offer a wide choice of deployment options that span public, private and hybrid clouds.

“Accellion is a pioneer in enterprise-grade secure, cloud file sharing and collaboration offerings. Unlike consumer-based applications, Accellion solutions meet both the requirements of business users for easy anytime, anywhere access to enterprise content, as well as the requirements of IT to retain control over access and security of information,” said Jeffrey Parks, founding partner of Riverwood.

Back in October 2011, Accellion was honored by Government Security News (GSN) as a finalist in GSN 2011 Homeland Security Awards Program. Accellion Secure Collaboration was chosen as a finalist in the Best Compliance/Vulnerability Assessment Solution category.



Meenakshi Shankar is a TMCnet contributor. To read more of her articles, please visit her columnist page.

Edited by Jennifer Russell
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