Fabrik Lands $24.9 Million in Series D Funding Acclaimed 3i Venture Capital Firm Helps Fabrik Accelerate Expansion Into

New Product Categories and International Markets



    SAN MATEO, Calif. and SANTA ANA, Calif., May 21 /PRNewswire/ -- Fabrik,
 Inc. (www.myfabrik.com), the provider of innovative storage and content
 management services, today announced that it has secured $24.9 million in
 series D funding, which is earmarked to help it expand into international
 markets and develop new product categories to transform the way people
 store, manage, access, find and share their personal and professional
 content. This latest round of funding was lead by 3i, the renowned global
 leader in private equity and venture capital, and included investment from
 continued partner ComVentures, a leading mobile, Internet and enterprise
 applications venture capital firm based in Silicon Valley.
     In addition to the funding, Fabrik benefits from the leadership and
 experience of 3i, which operates internationally and is known for building
 and connecting a diverse network of leading global companies for enhanced
 growth and profitability. As part of this strategic round of funding, Jim
 McLean, partner of 3i, will join Fabrik's board of directors. In this role,
 he will impart fresh insights and strategies, and help the company leverage
 3i's global business networks in the U.S., Asia, Israel and Europe.
     "When investing in companies, 3i looks for a strong management team, a
 strategic and differentiated business model, and the potential for
 significant market expansion - Fabrik has all the above," said Jim McLean,
 partner at 3i. "Fabrik has a unique and multi-dimensional approach in the
 way it plans to build and deliver its solutions. The company's strategy has
 made it a very attractive investment for us. Fabrik is an ideal addition to
 our global portfolio of innovative technology companies that deliver
 relevant and needed solutions to the consumer market."
     "Fabrik is bridging the ever-widening gap between consumers and their
 ability to easily consolidate, manage and utilize their content," said
 Keyur Patel, partner of ComVentures and co-founder of Fabrik. "The company
 understands the complexity and challenges in addressing these consumer pain
 points and it's emerging as the leader in personal media management. We see
 tremendous growth in Fabrik -- both in the short-term and long-term --
 making them a solid prospect for our continued investment."
     "We're enthusiastic about the latest funding round from 3i and
 ComVentures. Helping users easily store, manage and better utilize their
 content is the underpinning of our business, and it will continue to drive
 our continued expansion into new markets. This sizeable investment from two
 leading VC firms is a powerful endorsement of our vision, strategy and
 execution," said Mike Cordano, co-founder and CEO of Fabrik. "Although
 we're profitable from operations, this added capital accelerates our
 growth, and allows us to more quickly expand in the U.S. and international
 markets as well as into new product categories. The company is now well
 positioned to grow organically, through acquisitions or via new
 partnerships driven by our expanded network of leading international
 companies."
     Previous investors in Fabrik include ComVentures and Intel Capital
 Corp.
     About Fabrik, Inc.
     Fabrik's mission is to simplify a user's digital experience whether at
 home, on the Web or on the road by delivering a blend of online services,
 software and devices that help consumers store, access, manage, protect and
 share their growing collections of digital content. The company's flagship
 product is www.myfabrik.com, which is marketed directly to consumers and
 through partnerships with global market leaders. Fabrik's line of
 SimpleTech- branded products include external, portable and network storage
 solutions as well as flash memory cards, USB flash drives and memory
 upgrades. For more information, please visit www.myfabrik.com or
 www.simpletech.com. Fabrik Inc., founded in 2005, is a privately owned
 company with offices in San Mateo and Santa Ana, California.
      Contact:
 
      Erin Hartin
      Fabrik/SimpleTech
      Corporate Communications
      ehartin@fabrikinc.com
      303-284-7790 direct
 
 

SOURCE Fabrik, Inc.

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