Synchronized file management and storage startup
Syncplicity Inc. is expected to announce a $2.35 million first round of funding from
True Ventures, intended to spur continued product development and customer adoption. The young San Francisco-based company sells online software that allows users to synchronize and back up files that are shared or used on multiple computers. True focuses on early-stage technology companies, and is currently investing its second fund.
Syncplicity offers both a free version and a premium edition of its software, the latter of which is sold via a
subscription model. The company competes with the free
Dropbox application from Evenflow Inc., a startup backed by Sequoia Capital and
Y Combinator, and Sharpcast Inc.'s
SugarSync, backed by Draper Fisher Jurvetson, Selby Venture Partners and Sigma Partners.
-- Paul Bonanos
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