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Egnyte Gets $6m Series A Round

Egnyte Local Cloud that blends a hosted online solution with an on-premise solution
By Maureen O'Gara
Article Rating:
July 31, 2009 07:15 AM EDT
Reads:
 2,365

Egnyte, an on-demand file server start-up that kicked off in 2006 and launched in 2008, has gotten $6 million in Series A funding from Polaris Venture Partners and seed investor Maples Investments.

It says the money will be used to accelerate market adoption of its products and grow channel distribution for the service.

Its widgetry is used to store corporate data, share files inside and outside a company and backup employee computers in the cloud.

In March, the firm introduced a complementary Egnyte Local Cloud that blends a hosted online solution with an on-premise solution. It’s supposed to offer unlimited storage, secure access anywhere, easy file collaboration, built in disaster recovery, fast access, offline access and the ability to run client/server applications locally.

The company claims 15% month-over-month growth in the past six months from small businesses.

Polaris and Maples Investments backed LogMeIn and SolarWinds, two start-ups that went public recently, a rare event these days. Both bettered their IPO prices and have been holding up.

Published July 31, 2009 – Reads 2,365
Copyright © 2009 SYS-CON Media, Inc. — All Rights Reserved.
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More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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