Deals

Accellion raises $12M from Riverwood to become “Dropbox for enterprise”

Accellion

AccellionCloud file sharing company Accellion has raised $12 million in its third round of funding, with a goal of rapidly growing its mobile file-sharing solutions and international presence, the company announced today.

Accellion helps companies and government agencies secure data and documents across the cloud and mobile devices, especially the iPad in workplaces. Some of its solutions include Secure Mobility, Secure Collaboration and Secure File Transfer. The company likes to think of itself as “Dropbox for the enterprise,” chief marketing officer Paula Skokowski told us.

“Dropbox is not appropriate for work,” she said. “We provide a solution for enterprises to safely use these devices to view corporate data.”

The $12 million round was raised by technology-focused private equity firm Riverwood Capital, which is based in Menlo Park, Calif. and New York. Skokowski said the company chose Riverwood because its investors were on the same page with Accellion’s in-place strategies.

“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 Capital, in a statement. “We are excited about the company’s prospects moving forward as it expands and grows in 2012.”

Palo Alto-based Accellion was founded in 1999 and has offices in North America, Asia and Europe. Including this round, the company has secured $45 million from prior investors including Baring Private Equity Partners and TiNSHED.