Cisco Invests $9.5 Million In Mobile Software Startup
SoonR's product lets users with mobile phones access, back up, and share files stored on a desktop computer.
SoonR received $9.5 million in funding on Tuesday from networking giant Cisco and other leading companies to help the startup further develop its service that allows any data-enabled device to access information on PCs.
The Series B investment was led by Cisco, but Intel's venture capital arm Intel Capital and IT-focused venture capital firm Clearstone Venture Partners also participated. Both companies are existing investors in SoonR, which has received a total of $15.5 million in funds since it was founded two years ago.
"We both believe that crucial business documents will need to be accessible and actionable from the 'cloud,' or the layer of network intelligence, through a myriad of Internet-connected devices," said Patrick McVeigh, SoonR's CEO, in a statement regarding the company's shared vision with Cisco.
Cisco and SoonR have a similar vision of an "intelligent information network" that allows the sharing of information throughout the network infrastructure, or the cloud, as it's often referred to.
The startup has developed a platform that lets users with mobile phones and other data-enabled devices access, back up, and share files stored on a desktop computer. The service, which is currently in beta, works even when a computer is off. Users can access just about anything, including Microsoft Word, Excel, and PowerPoint files, as well Outlook calendars and e-mail. And the documents appear on a mobile device as they would on a PC screen, according to SoonR.
SoonR's free beta service is designed for mobile professionals. The company plans to introduce premium services in the future. The Soon R platform, for example, can be branded, customized, and offered as a service by carriers. SoonR said it already has formed partnerships with some international carriers like Denmark's TeliaSonera and is in trials with others.
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