TitanFile Closes $1.1 Million Financing to Democratize Security
Funding enables TitanFile to advance its innovative technology and expand into new markets
WATERLOO, ON, and HALIFAX, NS, Oct. 11, 2012 /CNW/ - TitanFile, an award winning online document transfer company, announced today that it has received $1.1M in financing to roll out their new professional file sharing and collaboration product in the market. Participants in the financing round are Innovacorp - Nova Scotia's early-stage venture capital organization, members of the First Angel Network, and others.
The company's new product is the result of research on organizing communication around people and context. Customers can easily group their contacts into real-time communication channels and then simply drag and drop files into those channels from various file sources.
"We have seen magnificent traction within our pilot deployments," said co-founder and CEO Milan Vrekic. "We are very excited about releasing the product to the general public."
TitanFile was selected by the two largest Atlantic Canada law firms, McInnes Cooper and Stewart McKelvey as a secure communication solution with their clients.
"Professionals can now communicate with clients and colleagues without worrying about privacy and security, while avoiding the complexity of traditional enterprise solutions." said cofounder and CTO Tony Abou-Assaleh, a former Google engineer.
TitanFile works on multiple devices, including personal computers and tablets. Unlike similar products, TitanFile customers do not need to install special plugins, configure computers, or add custom hardware. Security happens in the background.
TitanFile is focused on creating better ways for people to communicate and collaborate online without having to worry about security and privacy. TitanFile was recently named in Branham300 as one of the Top 25 Canadian Up and Coming ICT companies, won the 2nd place in the National Alpha Innovation competition and was named a finalist for this year's Manning Innovation Award. Last year, TitanFile won a Canada-U.S. Innovation Award as well as a Cloudy Award in the category of People's Choice: Best Cloud Newcomer, presented at SXSW.
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