The story
Incorporated only in 2008, Egnyte is a privately held company founded a year earlier by Vineet Jain, Rajesh Ram, Kris Lahiri, and Amrit Jassal. It received $1 million seed venture capital in 2007, $6 million in July 2009, $10 million in 2011, and $16 million in 2012.
The firm announced a $29.5 million investment in 2013 that included Seagate, CenturyLink, Northgate Capital, and prior investors Kleiner Perkins, Google Ventures and Polaris Partners. In 2018, it has raised $137.5 million, including $75 million in Series E funding in 2018, led by Goldman Sachs.
By the end of 2019, the company reported having more than 16,000 customers worldwide, and it had reached more than $100 million in annual recurring revenue.
Egnyte initially sold cloud and on-premises file servers but later added features for collaboration and security and shifted its focus to cloud content governance for businesses. In 2020, it combined its two primary products—Egnyte Protect and Egnyte Connect—into one platform to manage, govern, and secure data.
Also in 2020, the former CFO of Napster, Suzanne Colvin, took on the same role at Egnyte after it had been vacant for a long time since Steve Sutter's departure. Two years later, in addition to reports of its interest in going public (IPO), it was announced that a former FireEye executive VP, Alexa King, would serve as a board director.
In February 2025, it was announced that GI Partners and TA Associates had become majority shareholders of the company after making a large investment in Egnyte.
From Wikipedia’s article on Egnyte, shared under CC BY-SA 4.0.7