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Thursday, Apr 18, 2024
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WD Leads VC Round

Irvine-based Western Digital Corp. co-led a $77 million funding round for a Redwood City startup with noted Silicon Valley venture capital firm Kleiner, Perkins, Caufield and Byers.

Other backers in the round for Upthere included Elevation Partners; Floodgate; GV, the venture arm of Alphabet Inc.; NTT Docomo Ventures; and Square 1 Bank.

Upthere today also announced the availability of its Upthere Home app, which is designed to be a one-stop shop for storing and sharing photos, videos, music and documents.

The app, which costs $4.99 a month for 200 gigabytes of storage, incorporates a new operating system called UpOS, which was developed to support the expanding amount of content created in different formats and from different devices and services.

WD is the world’s largest disk drive maker, with annual revenue topping $14.5 billion.

The company’s shares are down about half a percent in late afternoon trading to a market value of about $12.4 billion.

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