Lockbox said it raised $2.5 million of seed funding from new and existing investors. Natasha Mandie, managing director of Mandie Consulting, led the funding and was appointed chairperson. Also joining the board was Steve Kepper, director at KFT Investments in Australia.
Private and Secure File Sharing Leader Lockbox Closes $2.5 Million Oversubscribed Funding Round
Company appoints new chairperson and board member as U.S. growth accelerates
August 20, 2013 (SAN FRANCISCO, CA) – Lockbox, a leader in private and secure file sharing, today announced the close of a $2.5 million round in seed funding to support further growth of the company. The round was led by new and existing investor groups from the United States, Australia and Asia. Lockbox will use the investment to execute on the company’s product roadmap, increase investment in sales and marketing, and expand the Lockbox team with key staff in the areas of sales, support, and operations.
With this funding round the company also announced that Natasha Mandie, Managing Director ofMandie Consulting, has been named Chairperson of the Lockbox board effective immediately. Ms. Mandie led the funding round for Lockbox and brings more than 15 years of experience advising startup and growth companies on capital raising, exits and strategic planning for accelerated growth, including time with Hindal Ventures and Credit Suisse. The company also named Steve Kepper, Director at KFT Investments in Australia, as a new board member.
“We’re thrilled to have the enthusiasm of a number of sophisticated investors who share our vision of taking Lockbox to the next level and continuing to deliver a secure file sharing service that puts customers in control of their data,” said Peter Long, CEO of Lockbox. “Businesses that have stayed away from the cloud in the past are excited by the global opportunities that Lockbox technology has opened. The close of our seed round is another sign of our incredible momentum over the past few months – signing new partners, customers and expanding the business.”
Ms. Mandie added, “We are very excited with the remarkable pace of progress that Lockbox has made. The next quarter will see the launch of our iPad and iPhone app, and further product improvements to enhance our customer offering.”
On May 14, 2013, Lockbox announced the company’s entry into the U.S. market. In conjunction with Lockbox’s entry into the U.S., the company launched Lockbox Client Portal, a private and secure file sharing solution for the financial services market. Lockbox Client Portal allows information to be shared with multiple parties simultaneously, providing quick, easy, cost-effective, and most importantly, secure and private collaboration.
Businesses are continuing to look for ways to stay protected from cybercrime and use the cloud in a secure and private way. The Ponemon Institute, a research center dedicated to privacy, data protection and information security policy, reported in a study on “The Impact of Cybercrime on Business” that respondents surveyed said their organizations faced on average 66 cyber attacks weekly that caused business disruptions and loss of sensitive information. Lockbox solves the “cloud privacy” problem by empowering customers to protect information with client-side encryption and encryption keys, without the need for expensive enterprise solutions.
About Lockbox Lockbox was founded in 2008 by cryptography and IT industry veterans who have been internationally recognized for making world-class encryption and security easy and inexpensive to use. Lockbox empowers businesses and consumers to exchange private and sensitive documents over the cloud through an easy-to-set-up, easy-to-use, economical file and folder encryption platform and cloud service. Only Lockbox combines industry-leading document-level encryption and client-side key management technology to ensure confidential documents remain secure and private no matter where they are sent or stored.