Egnyte unifies its safety and productiveness tooling into single platform
Egnyte introduced in the present day it was combining its two principal merchandise — Egnyte Defend and Egnyte Join — right into a single platform to assist prospects handle, govern and safe the info from a single set of instruments.
Egynte co-founder and CEO Vineet Jain says that this new single platform method is being pushed mainly by the sheer quantity of information they’re seeing from prospects, particularly as they shift from on-prem to the cloud.
“The underlying pervasive theme is that there’s a rapid acceleration of data going to the cloud, and we’ve seen that in our customers,” Jain advised TechCrunch. He says that long-time prospects have been shifting from terabytes to petabytes of information, whereas new prospects are beginning out with a couple of hundred terabytes as a substitute of 5 or ten.
As this has occurred, he says prospects are asking for a strategy to cope with this knowledge glut with a single platform as a result of the quantity of information makes it an excessive amount of to deal with with separate instruments. “Instead of looking at this as separate problems, customers are saying they want a solution that helps address the productivity part at the same time as the security part. That’s because there is more data in the cloud, and concerns around data security and privacy, along with increasing compliance requirements, are driving the need to have it in one unified platform,” he defined.
The corporate is doing this as a result of managing the info must be tied to safety and governance insurance policies. “They are not ultimately separate ideas,” Jain says.
Jain says, up till just lately, the corporate noticed the info administration piece as the way in which right into a buyer, and after that they had that locked down, they’d transfer to layer on safety and compliance as a value-add. Immediately, partly as a result of knowledge glut and partly on account of compliance laws, Jain says, these are now not separate concepts, and his firm has developed its method to satisfy the altering necessities of consumers.
Egnyte was based in 2007 and has raised over $138 million on a $460 million submit valuation, in accordance with Pitchbook knowledge. Its most up-to-date spherical was $75 million led by Goldman Sachs in September, 2018. Egnyte passed the $100 million ARR mark in November.