Egnyte raises $6 million in venture funding

Summary:Egnyte, a startup focused on on-demand file servers, said Monday that it raised $6 million in funding from Polaris Venture Partners and Maples Investments.The series A round will be used to boost distribution for its service (statement, Techmeme).

Egnyte, a startup focused on on-demand file servers, said Monday that it raised $6 million in funding from Polaris Venture Partners and Maples Investments.

The series A round will be used to boost distribution for its service (statement, Techmeme).

I saw Egnyte present at the Under the Radar conference in April and the company was impressive. Vineet Jain, CEO of Egnyte, is also focused on the business market. Egnyte was presenting with a handful of cloud storage companies.

According to Jain, Egnyte has been growing at a 15 percent month clip. The company, which launched in 2008, in March rolled out the Egnyte Local Cloud, which blends hosted on-premise and cloud storage. Despite all the yapping about the cloud, most companies are likely to adopt a hybrid approach.

Here's a look at Egnyte's presentation from April:

Topics: Cloud, Servers, Start-Ups

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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