Monday, January 7, 2008

Memeo Raises $8.1M Series B Funding

Aliso Viejo-based Memeo, a company which develops a backup and recovery software for photos, music, and other digital files, said Monday that it has raised $8.1M in a Series B round of funding. Funding came from the Foundry Group, which led the round, along with G-51 Capital. Memeo said it is profitable, and will use the capital to boost its market position, expand its team, build distribution channels, and for product development. Ryan McIntyre of Foundry Group will join the firm's board as part of the funding. Memeo's LifeAgent software is shipped with hard drives and other storage to allow PC users to back up new or changed files. More information »

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