Egnyte raises $6M more to bring small businesses into the cloud
Summary
Egnyte, a startup that allows small and medium businesses to store and collaborate on their files online, has raised $6 million in new funding. Amid the many web-based storage and collaboration options out there, Egnyte has a clear focus — it’s trying to replace the traditional file server for relatively small companies with a solution that takes advantage of the web. The fact that pricing starts at $10 per user per month, making it much cheaper for most small businesses than an on-site server, doesn’t hurt either. The Mountain View, Calif. company says that for the past six months, revenue has been growing 15 percent month-over-month, and it points to still-growing business interest in cloud computing (namely, accessing your applications, storage, and other computing functions remotely, while it resides on someone else’s hardware) as a reason for continued optimism. The new funding comes from Polaris Venture Partners and previous investor Maples Investments, which also led Egnyte’s seed round last year.
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