Egnyte get a boost up from a competitor

Profile image for AdFeatures

By AdFeatures | Friday, August 31, 2012, 13:57

ADVERTISEMENT FEATURE

Storing large files online with the help of ‘cloud computing’ is something that more small, medium and large companies are doing, and a recent investment in a firm offering this service by the investment arm of search engine giant Google proves that the cloud is becoming more popular. Google Ventures has invested $16 million in cloud computing firm Egnyte in the hope that the money will help to boost their profile throughout the world as one of the leading providers of online file storage.

In exchange for this Series C funding, Google Ventures partner Karim Faris will sit on Egnyte’s board, offering advice on how the business can expand in order to compete with some of its rivals. Added to money invested by other firms including Polaris, the total amount of money Egnyte have received to spend on marketing their product to a worldwide audience totals around $32 million.

The money awarded is to help Egnyte with increasing awareness of its cloud storage and cloud hybrid services, and will help improve operations at its data centre in Amsterdam and fund a marketing office elsewhere in Europe, possibly in London or Brussels. In addition to that, it will help bring their marketing budget closer to that spent by other online file storage providers such as Box.

Although Box are the market leader in cloud storage, Egnyte CEO Vineet Jain believes that the race to become the biggest provider between the two companies, not to mention other services like the Apple iCloud “is on”, and recent investments will help to give them a fighting chance of becoming the top cloud computing company today. Although the cloud storage marketplace hasn’t taken off yet, increasing interest in this still-new form of file storage is likely to grow considerably over the next few years as companies look to alternatives to owning a server.

      

Comments

       
max 4000 characters
        
   

Latest Stories in Barnstaple

       
      

Local Vouchers

       
  • £3 Off Instant Passport / ID Photos - Fully Guaranteed Service

    J & A Cameras Ltd

    Don't trust the photo booths? Get set for your Summer Holidays with J&A Cameras. We are offering £3 Off our Passport Office Approved Instore Passport Photo Service so come in and get it done properly!

    Terms: Instant passport photos guaranteed to be correct with the passport office, or we will re-take them for free. No refunds will be given as an alternative.

    Contact: 01271447066

    Valid until: Sunday, November 30 2014

     
  • 2 for 1 Lunches

    The George Hotel

    Buy 2 main meals and get the cheapest FREE!
    OPEN: Thursday - 11am - 2pm, Friday & Saturday 12-2pm.
    You can choose from our bar menu as well as the specials board

    Terms: Lunchtime offer only.

    Contact: 01769 572514

    Valid until: Sunday, August 31 2014

     
  • The Seafood Platter for 2 £49.95

    Fatbelly Fred's Fish and Seafood Restaurant

    Dusted Squid & Aioli
    Sweet Chilli King Prawns
    Moules Marinieres a la Creme
    French Fries,Bread, 2 sauces &
    6 Fillets of Fish
    (you wont need a starter)

    Terms: For 1 or 2 people only

    Contact: 01271 441033

    Valid until: Wednesday, December 31 2014

     
   

Search for...

       
        
Min price is bigger than Max price
        
Min price is bigger than Max price
        
Min rent is bigger than Max rent