BeInSync Completes Financing from Alta Berkeley, Eurofund and Aviv Ventures.New Financing Will Support BeInSync's Future Company and Product DevelopmentTEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest -- BeInSync, the leading P2P See peer-to-peer and point-to-point. file synchronization File synchronization (or 'synching') in computing is the process of making sure that two or more locations contain the same up-to-date files. If you add, change, or delete a file from one location, the synchronization process will add, change, or delete the same file at the other software company with more than three million users worldwide, today announced it has recently completed its latest financing round. The financing was led by investment fund Alta Berkeley, which joined previous investors Eurofund and Aviv Ventures. BeInSync develops secure P2P synchronization software that keeps documents in sync, backed up and easily shared across multiple computers. The company will use the additional funding to expand its marketing and sales functions for its flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. launched in August 2004. In addition, BeInSync is expanding its product line and offering data protection and backup by combining its P2P expertise with an optional online storage service. "Consumer storage requirements are growing exponentially," said Barun Dutta, partner at Alta Berkeley. "This is an opportune time to invest in P2P technology that addresses a real need for data protection, access and sharing in a simple and affordable way. BeInSync's innovative approach and seasoned leadership team continues to prove that it is outpacing the competition and is emerging as a clear leader in this space." BeInSync has garnered widespread industry recognition as the leading P2P file synchronization software including PC World's 101 Fabulous Freebies; a four star rating from PC Magazine and from CNET (body) CNET - Centre national d'Etudes des Telecommunications. The French national telecommunications research centre at Lannion. ; and positive endorsements from the Wall Street Journal and BusinessWeek. "BeInSync has gained significant market traction by offering a low-cost software that allows easy access, sharing and backup of personal and business information, and we have consistently received positive reactions from our growing customer base," said Tal Barnoach, BeInSync CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Unlike any other solution, BeInSync ensures the highest level of privacy and speed while providing a truly seamless user experience by synchronizing files and information through its unique P2P technology." About Alta Berkeley Founded in 1982, Alta Berkeley is a London-based venture capital firm focusing on the next generation of leading technology companies in communications and computing across Europe and Israel. Alta Berkeley follows a US-style VC model, in that its partners have deep operational experience of successfully launching and managing technology businesses in both the private and public markets and consequently, they take a hands-on approach with their portfolio companies. Alta Berkeley has raised and invested six funds since 1982, providing superior returns for institutional investors and has been responsible for over 50 exits via acquisition or IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . The firm is currently investing from its sixth fund. Recent investments include Teradici Corporation, Frontier Semiconductor, Touch Clarity, Dune Networks, Native Networks, and Siliquent. For more information, please go to: www.altaberkeley.com. About Eurofund Eurofund is a venture capital fund with a strongly defined identity and distinct areas of operation, established in alliance with powerful strategic partners who are industry leaders in the global marketplace. Eurofund focuses on earlier stage Israeli companies The top 10 Israeli companies by sales are[1]:
Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. , the RAD Group and other financial investors. For more information, http://www.eurofund.co.il/. About Aviv Ventures Aviv Venture Capital ("Aviv") invests in Israeli-related unique technology companies. Aviv focuses on mid stage companies who are at a phase of transforming from an R&D project to a full scale company. Portfolio companies include Bitband, Deep Breeze, Columbus, FriCSo, MCS and BeInSync. For more information, visit http://www.avivvc.com. About BeInSync BeInSync provides consumers and businesses an easy way to protect, access and share their valuable documents, photos and music. Used by over three million people worldwide, BeInSync's patent-pending secure P2P synchronization technology keeps user files backed always up and in sync across multiple computers and devices automatically. This enables BeInSync to stand apart by offering its users virtually unlimited backup, seamless anywhere access and total privacy at minimum cost and complexity. Privately held, BeInSync is venture capital backed and headquartered in Tel Aviv, Israel. For more information, visit http://www.BeInSync.com. |
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