Cloud

Egnyte raises $6 million in venture funding

Egnyte, a startup focused on on-demand file servers, has raised $6 million in funding from Polaris Venture Partners and Maples Investments. In March, the company rolled out the Egnyte Local Cloud, which blends hosted on-premise and cloud storage.

This is a guest post from Larry Dignan of TechRepublic's sister site ZDNet. You can follow Larry on his ZDNet blog Between the Lines, or subscribe to the RSS feed.

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:

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