Foldera Completes Oversubscribed $8.5 Million Series B Offering, Following $2.0 Million Series A Offering Completed in August 2005

Foldera Completes Oversubscribed $8.5 Million Series B Offering, Following $2.0 Million Series A Offering Completed in August 2005

I advised these guys when they were Taskport back in the winter of 2004 out in Newport Beach. Very interesting approach to web services in the group collaboration space — using a “smart” folder approach to sort communications and activity automatically. The appeal is to the SMB market that can’t afford an internal Exchange or Notes implementation but which needs some group collab apps such as shared skeds, document sharing, IM, etc.. SMB is the bullseye right now in all IT services, and a custom fit for a web services play like Foldera.
The cost? Free. Total viral play. You sign up for an account and then invite colleagues, customers, friends to join in.

Upselling opportunities if the user needs more disk space, premium support, etc.. Today the company merged into EXSM, and is officially in the market. CEO Richard Lusk is a fireball, entrepreneur (OANDA.com and others). Beta accounts now being offered.

Full disclosure: I was compensated with shares in the company, now holding 45,000 shares, and sit on their advisory board. I made some introductions, helped with the business and marketing plans, and still do some spare-time communications work for them.

Author: David Churbuck

Cape Codder with an itch to write

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