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Kanbox Lands USD 20 Mln in Second-Round Funding

Techweb, 10/25/11

Chinese cloud computing services provider Kanbox announced today that it has won a total of USD 20 mln in second-round funding led by US VC firm Doll Capital Management (DCM). The company previously received angel investment from Chinese angel investor Charles Xue and first-round funding scaled in the tens of millions of USD.

Kanbox today also announced that DCM founder and partner David Chao will now join the company's board of directors.

The number of Kanbox registered users rose to 1.5 mln in Q1 2011, and is expected to reach 8 mln by the end of the year. Users currently have over 2 bln files stored in Kanbox's cloud servers, and continue to upload more than 20 mln new files each day. Kanbox also recently released applications for both the Android and Mac OS operating systems.

Also included in today's announcement came the news that Beijing-based investment bank China Renaissance has come on as sole financial adviser for Kanbox.

Keywords: Kanbox storage Internet funding software China Renaissance cloud computing Doll Capital Management first-round registered users second-round David Chao Charles Xue

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