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Steek Raises $8M

Steek, provider of online storage platforms to telcos, raises $8M in second round of financing

BORDEAUX, France -- To finance its further development, Steek S.A. the specialist in online storage softwares has just raised $8 Million in a second round of financing with AGF Private Equity and Innovacom, its original investor.

This second round of financing follows a $4Million A round” realized mid-2006 which enabled the Company to develop its technology and expand in Europe. In total, Steek has 1.5 million users of its online backup and storage services with more than 15 ISP and OEM partnerships.

“User Generated Content (UGC) is growing exponentially and this content needs to be saved and shared. We empower ISP to offer UGC-based services to their customers.”

But increasingly users do not want to be tied to a their PCs or a fixed broadband connection.

“Steek will use the new investment along with its experience and expertise to deliver innovative new UGC-based services in a converged mobile/fixed environment. We also want to reinforce our presence in North America” explains Christophe Camborde, Steek CEO.

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