Pogoplug Gets VC Funds From Foundry Group

Earlier this week my colleague Kevin Tofel asked what would happen if Cloud Engines, the company behind Pogoplug, went out of business. To address such concerns, Cloud Engines has done two things: it promised to put its software in open source in case of bankruptcy and raised fresh venture funding from Ryan McIntyre at The Foundry Group. It marks the return of McIntyre, who also backed Sling Media, to the consumer hardware space; he announced the Cloud Engines investment in a blog post earlier today. Cloud Engines has declined to reveal the exact amount of money it’s raised so far.

I’ve been fairly intrigued by the $99 Pogoplug and have been thinking about buying it, especially in light of the enthusiasm our sister site jkOnTheRun has expressed about it. The nifty little device turns any USB-enabled drive into a personal storage locker accessible over the Internet. It’s interesting because it solves one big problem with web-based storage services: cost. Most of the web-based storage services are pretty expensive, once you go beyond a few free-gigabyte plans. A terabyte of local storage drive can cost around $200. Add the $99 Pogoplug and for $300 you get a terabyte of Internet-enabled storage, much cheaper than what it would cost to get from any web-based storage offering.