Cloud services co TriPlay raises $11m

deal  merger  picture: photo to go

TriPlay will use the funds for marketing, accelerating R&D and growing its user base.

Cloud services company TriPlay has raised $11 million in financing from funds managed by affiliates of Fortress Investment Group LLC (NYSE: FIG), as well as from existing investors Kenges Rakishev and the company's founder and CEO Tamir Koch.

TriPlay will use this latest round of funds to support its marketing efforts, accelerate R&D and grow its existing base of over one million users of its open, next generation personal cloud services. MyMusicCloud and MyDigipack are universal applications above the cloud that allow users free unlimited storage and access to their music, photos and videos on any device, operating system, file format and network anywhere in the world.

Koch said, “As competition between device makers, cloud storage and wireless providers heats up, consumers are increasingly concerned about universal access to their valuable and carefully curated content. As they are applications above the cloud, this will never be an issue with MyMusicCloud and MyDigipack. With the support of our investors, our new marketing strategies will focus on informing users worldwide of this very important feature."

Koch added, "Ten years ago we developed and launched the very first cross-platform messaging technology that is central to much of today’s communications and it is vital that we not only protect it, but strengthen it with the purchase of supportive technologies."

The company has offices in the US and Israel.

Published by Globes [online], Israel business news - www.globes-online.com - on April 7, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

deal  merger  picture: photo to go
deal merger picture: photo to go
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