Valley-based 500 Startups invests in Dropmysite
By Digital News Asia April 26, 2013
- Financial details not disclosed, but in usual 500 Startups range of US$25k-250k
- 500 Startups will also recommend Dropmysite’s corporate email backup solution to its network
SEED accelerator 500 Startups has just invested in Dropmysite, the cloud-based website, email and database backup solution.
This investment will see Silicon Valley-based 500 Startups take a stake in Dropmysite’s future and further validates its goal of “backing up the Internet,” Dropmysite said in a statement. The latter said it currently backs up a quarter of a billion emails and websites a day for nearly a million users.
“Very few people think about backing up their e-mail, voicemail, or SMS until it's too late, and most carriers and ISPs (Internet service providers) can't help you if they lose your data,” said George Kellerman (pic), venture partner of the Mountain View, California-based 500 Startups.
“Dropmysite, however, solves that problem and allows any SMB (small and medium business) to back up its e-mail or whatever else it needs simply and cost-efficiently. It's a great cloud-based business that has the potential to go global,” he added.
While details were not disclosed, Dropmysite said the deal will see 500 Startups make an investment within its “usual quantum” of US$25,000 to US$250,000 in Dropmysite, which it can use to scale up its operations.
“This partnership is yet another an endorsement of our vision of keeping all data safe in the cloud,” said John Fearon (pic), chief executive officer and founder of Dropmysite.
“We are excited to be part of this organization and we look forward to working closely with George (Kellerman) in the future.”
Dropmysite will be among only a handful of Singaporean companies to join the 500 Strong, after Payroll Hero and Viki, and other companiess such as TaskRabbit, Twilio, Wildfire and Sendgrid.
500 Startups will also recommend Dropmysite’s corporate email backup solution, Dropmyemail Business, to its network worldwide.
With advanced email backup management, email usage reports / audits, military-grade security and unlimited storage, Dropmyemail Business is perfect for all their small, medium or large enterprise email backup needs, the company claimed.
Lastly, the start-up will have access to all the mentors available to 500 Startups. Currently, there are over 100 mentors with expertise ranging from analytics to user experience hailing from companies like Facebook and YouTube.
Dropmysite said it is also negotiating other deals, besides the recent GMO Cloud in Japan and Xpress Hosting in Mexico partnerships, and expects to announce another reseller agreement soon in Singapore.
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