Funding the Future
After last week's batch of funding deals, we start this week with Egnyte picking up an impressive US$ 10 million to help expand its cloud storage business to new territories. The company is also announcing an iPad 2 product, offering its Egnyte Enterprise app as an enterprise security and file access solution.
The funding side of the deal is a series B investment that comes from previous and new investors in Egnyte. The funds are going toward international expansion and bolstering its marketing efforts, plus adding to the sales and engineering effort (presumably with new staff). The new investment is based on the company's quadrupled growth last year and the prospects for cloud businesses, as well as its chances of stealing a march on the market with its new iPad app.
Keep files locally and on cloud storage synced and secure
iPad in the Enterprise
Everyone wants an iPad in their office, except the bean counters who can get a perfectly good laptop for a third of the price and IT engineers who have little to do with a largely self-sufficient device. The company's enterprise 2.0 app, Egnyte Enterprise for iPad offers users 24/7 file access to documents with server management and enterprise-level security, auditing and versioning to attract business users.
With the iPad 2 being announced tomorrow, Egnyte is getting in early with its hybrid technology of both cloud and local storage. The app does its magic by detecting and synchronizing changes to files at either end, so whenever a user changes them, other users get the new version to work with.
Obviously Apple is keen to get iPad into business and will be cheering on this effort, but do they have similar plans based around its new data center? Or will Apple stick to its media strengths and let others do the hard work?
The app, with the security and connectivity issues navigated, offers one less excuse for enterprises to keep iPads out of the office, with admins able to control the file storage with their own dashboards and employees able to work just as if they were on a regular server storage network (or, if they're away from the network, to work locally). It offers 256-bit AES encryption over SSL. Egnyte itself has servers that are hosted at Type II, SAS 70 compliant co-location facilities and more to guarantee data access and security.
Egnyte has business plans for SMBs and enterprises, offering uncomplicated but sophisticated storage and access.