Hybrid Cloud Provider Egnyte Raises $16M

[Techtaffy Newsdesk]

Egnyte, a provider of cloud and hybrid cloud file sharing solutions for businesses, has closed a $16 million round of Series C financing led by Google Ventures with additional support from existing investors, Kleiner Perkins Caufield & Byers (KPCB) and Polaris. As a part of the funding, Karim Faris, Partner at Google Ventures, will join the board of Egnyte.

The funds will be used to expand sales and marketing efforts as well as further the development of hybrid cloud and next generation cloud technologies, says the company.

Egnyte recently announced major customer wins including a 25,000 seat enterprise deal with Y&R group.

Vineet Jain  (CEO, Egnyte): …more importantly all our investors represent a strategic interest and belief that hybrid cloud is the next generation cloud.

Egnyte, founded 2007, is based in Mountain View, California and is a privately held company backed by venture capital firms Kleiner Perkins Caufield & Byers, Floodgate Fund, and Polaris Venture Partners. Over 1 billion files are shared daily by businesses using Egnyte Hybrid Cloud file server, says the company.

[Image Courtesy: Egnyte]

Just in

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.