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
Previous investors in Fabrik include ComVentures and Intel Capital
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.
SOURCE Fabrik, Inc.