Venture Capital News for entrepreneurs and investors | PowerFile secures series B funding

"PowerFile, Inc., an innovator in online archive solutions for long-term storage of fixed digital content today announced that it has received US $10 million in Series B funding. Silver Creek Ventures of Dallas, Texas led the round followed by Sequoia Capital, the initial investor in the Company.
Closure of this latest round of financing punctuates a year of noteworthy achievements for PowerFile, including general availability of the SA2000 Permanent Storage Appliance, several strategic alliances in the medical imaging and video surveillance sectors and several OEM agreements in digital home media market.
PowerFile has pioneered the concept of online archive, offering solutions that combine the speed of online access with the economy and integrity of new archiving technology to empower organizations of all sizes to efficiently search manage and permanently preserve valuable digital assets."