DCM Helps Cloud Computing Co. Kanbox Raise $20M

Law360, New York (October 25, 2011, 3:15 PM EDT) -- Kanbox, a Chinese provider of cloud computing services, raised $20 million in its second round of financing with help from global venture capital manager DCM, bringing its total capital raised to $30 million, the company announced Monday.

Beijing-based Kanbox said it was the first open platform service of its kind in China, allowing millions of individuals and businesses to store data such as photos, videos and documents across multiple locations and devices.

The company, which has gained about five million users since its founding in January,...
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