DEMO.com > Symform, Inc.

Symform, Inc.

Conference: DEMOfall 09
Market Segment: Small Business Software and Services
Funding Amount: $1,000,001-$5,000,000
Funding Round: Series A
Funding Details: OVP invested $1.5 million in May 2009.
Competitors: Mozy, Carbonite, Data Vault.
Product Description: Symform provides enterprise-class disaster recovery and online storage at a price that any business can afford. Symforms Cooperative Storage Cloud is a service that provides a customer with unlimited online storage in exchange for an equal amount of local storage on the customer's system. The service is available for a low, fixed monthly rate. No per-gigabyte fees.
Market Opportunity: IDC forecasts the storage-as-a-service market to pass the $3 billion mark by 2012, with a compound annual growth rate greater than 29% from 2007 to 2012.
DEMO Says: Symform is based on a brilliant, blinding flash of the obvious: cloud computing has shifted operational and fixed costs of networked storage from local servers to centralized data centers. Great for local providers, but tremendously challenging for aggregated data centers. Symform's technology effectively redistributes the cloud, capturing the benefit of shared resources while delivering the enterprise reliability of cloud storage. With a focus on SMEs, Symform will enable managed service providers to offer virtual cloud services to their small enterprise customers with the same security, reliability, and cost-benefits of large data storage providers.