The company recently raised a $16M round from Mark Cuban, JetBlue and Will Smith's Dreamer FundRead more...
Hightail, formerly YouSendIt, has now raised $83 million in total funding
File collaboration and storage company Hightail, which used to be known as YouSendIt, has raised $34 million in Series E funding, it was announced Tuesday.
The round was led by Western Digital Capital, with new investor Accolade Partners joining existing backers, including Alloy Ventures, Sevin Rosen, Emergence Capital, Adams Street Partners and Sigma Partners. Hightail has now received a total of $83 million in funding.
The money will be used, in large part, for international expansion, Ned Sizer, CFO of Hightail, told me in an interview, specifically in the United Kingdom, Australia, Canada, France, Germany, Italy, Spain and parts of Asia.
"60% of traffic on the site is from outside U.S. and, until this year, we only offered us dollar billing and English language," he said. "We have begun to roll out local currencies, and localized websites, in five new languages: Italian, German, Spanish, French, and Dutch."
The company has opened up in western Europe, and it is now looking to expand to Asia. It will double the number of languages by next year, and will include Japanese, Chinese and Korean.
In addition, the company will also take advantage of "strategic investment opportunities," which will drive business forward. They include investing in product, especially tracking and control features that users are asking for.
There will also be " a fair amount of investments in operations and data centers," said Sizer. "As we expand internationally, we will need more data locations."
The Campbell, California-based company is in the cloud based filing sharing collaboration storage space. Focusing on the professional side of the business, Hightail helps its users securely share and control files from anywhere.
Of course, there are many collaboration and storage companies out there, but Sizer says that he considers Hightail to be in the top three, along with Dropbox and Box. But there are big differences between the three, he said.
Dropbox is focused on the consumer side, who have different needs than Hightail customers, Sizer told me.
For example, on Dropbox, there is nothing to stop anyone you send a file to from changing, or erasing, it. Hightail users, on the other hand, value security and protection, with features like password protection, file verification, and the ability to see how many times a file has been accessed and downloaded.
Box, meanwhile, also focuses on the enterprise side, but the difference there is how it expects users to adopt its features, Sizer said.
"They are focused on platform, and want users to standardize on the Box platform," he told me. "Our view is different. We work where you work, and don’t try to change where you work."
The company does this through integrations with companies like Outlook and Sharepoint, and will be integrating with Salesforce in the first quarter of next year.
Ultimately, though, it is the focus on control and security that sets Hightail apart, as well as the unlimited storage it gives to its premium customers.
Founded in 2004, Hightail has over 600,000 paying subscribers, and over 44 million registered users. Sizer would not comment on customer growth, though.
The company made $57 million in revenue in 2012, but he would not comment on any projected growth for this year.
(Image source: https://www.hightail.com)
Read more from our "Trends and news" series
The company also welcomed two new members to its board of directorsRead more...
The company, whose team is made up of Google and Apple engineers, has saved teams 40% of their timeRead more...
Related Companies, Investors, and Entrepreneurs
Joined Vator on
Salesforce.com is the worldwide leader in on-demand customer relationship management (CRM) services. More companies trust their vital customer and sales data to salesforce.com than any other on-demand CRM company in the world.
Salesforce.com was founded in 1999 by former Oracle executive Marc Benioff, who pioneered the concept of delivering enterprise applications via a simple Web site. Salesforce.com is constantly building on that legacy by improving and expanding our award-winning suite of on-demand applications, our Force.com platform for extending Salesforce, and our one-of-a-kind AppExchange directory of on-demand applications.
Salesforce.com has received considerable recognition in the industry, including:
• Technology of the Year (InfoWorld, 2004, 2005, 2006)
• Editors' Choice Award (PC Magazine, 2002, 2003, 2004)
• Visionary Award (SDForum, 2004)
• Best of the Web (Forbes, 2003)
• CRM Excellence Award (Customer Inter@ction Solutions, 2003, 2004, 2005, 2006)
• Top 100 Innovators Award (BusinessWeek, 2006)
• Innovation Award (AMR Research, 2005)
• CODIE Award for Best CRM (2002, 2003, 2004, 2005, 2006)
Joined Vator on
Founded in 2004, Hightail was working in the cloud before the term was even coined. At first the service was a simple way to send the large attachments that email couldn’t process, but has since grown to offer robust online sharing, storage and file management capabilities. Today, the company serves more than 40 million registered users across 193 countries and 98 percent of the Fortune 500.
Joined Vator on
Box provides secure, scalable content sharing that both users and IT love and adopt, including 82% of the FORTUNE 500. Box's dynamic, flexible content management solution empowers users to share and access content from anywhere, while providing IT enterprise-grade security and oversight into how content moves within their organizations. Content on Box can also be accessed through mobile applications, and extended to partner applications such as Google Apps, NetSuite and Salesforce. Box is a privately held company and is backed by venture capital firms Andreessen Horowitz, Bessemer Venture Partners, Draper Fisher Jurvetson, Emergence Capital Partners, Meritech Capital Partners, NEA, Scale Venture Partners, and U.S. Venture Partners, and strategic investors salesforce.com and SAP.