Egnyte Secures $29.5 Million in Series D Funding

Today is an exciting day at Egnyte! I’m happy to announce that Egnyte has closed a $29.5 million Series D funding round with new investors from Northgate Capital Group and strategic partners Seagate Technology and CenturyLink. The round also includes support from existing investors Google Ventures, Kleiner Perkins Caufield & Byers, and Polaris Partners.

For the past two years, Egnyte’s revenue has doubled year over year, and we expect to more than double revenue as we close out 2013! Today, Egnyte powers file access and file sharing for its more than 40,000 customers around the world on more than 30 petabytes of data stored across the cloud and 20,000 on-premise storage devices.

A hybrid approach to file sharing where users can access 100% of their files behind the firewall AND in the cloud is a strong need for our user base and the industry. In fact, sixty percent of our customers on day one deploy Egnyte with this approach. Egnyte’s fast growth and the rapid expansion of the enterprise file-sharing market overall underscores the unprecedented demand for a platform that provides companies with comprehensive file sharing, sync, and storage capabilities. We’re in a strong position for growth and expansion, and with the new funding, we’ll be expanding globally and making strategic investments in product development, sales and marketing.

For the full details on today’s announcement and some commentary from our new investors, you can check out the release here.