Cloud-based business Lockbox has closed its latest seed funding round and will now begin expanding its team.
London, San Francisco and Sydney-based Lockbox has received equity backing from new and existing investors.
The $2.5 million (£1.6 million) round will go towards developing Lockbox’s technology, which allows businesses and consumers to exchange private and sensitive documents through the cloud, as well as investing in sales and marketing.
Lockbox’s seed round follows on from the company’s entry into the US market back in May when it also launched Lockbox Client Portal for the financial services market.
Peter Long, CEO of Lockbox, says that the business is ‘thrilled’ to have the enthusiasm of sophisticated investors.
‘Businesses that have stayed away from the cloud in the past are excited by the global opportunities that Lockbox technology has opened,’ he adds.
‘The close of our seed round is another reign of our incredible momentum over the past few months – signing new partners, customers and expanding the business.’
As part of the seed transaction, Steve Kepper, director at KFT Investments in Australia, has been named as a new board member. Joining Kepper is Mandie Consulting managing director Natasha Mandie, and lead on the new deal, who is set to become chairperson of the Lockbox board.
According to a statement, Mandie brings with her 15 years experience of raising capital, securing exits and accelerating growth for start-ups and growth companies.
Mandie comments, ‘We are very excited with the remarkable pace of progress that Lockbox has made. The next quarter will see the launch of our iPad and iPhone app, and further product improvements to enhance our customer offering.’