Ten year old startup Egnyte announced today that they would finally be bringing their mobile app to desktop users, broadening its market in the traditional business world.
The company—which has not received funding since 2013 yet still managed to reach profitability in the fourth quarter of 2016—has differentiated themselves from other cloud storage services like Dropbox, Google Drive, or ShareFile by offering a hybrid approach to storage. Users can access files both stored remotely and files stored locally on premises, and the app is able to decide how to access files based on where they are stored. For instance, if the app is linked to a file on premises that is also stored in the cloud, it will always choose the on-prem file first for better access speeds. These features are specifically geared toward business users, who may have multiple file repositories that they’re using from several different locations.
Egnyte also offers a number of features beyond pure storage, including file-locking, offline file access, and document protection. Additionally, the company is working on solutions that address the problem of file permissions across multiple storage services. When a file is moved between Dropbox and Google Drive, for instance, the file permissions do not transfer over, but Egnyte has taken steps to develop compliance tools which make file permission transfer as seamless as possible.
Since its inception in 2007, Egnyte has aquired roughly 300 employees and services key clients such as Red Bull, Nasdaq, Warby Parker, and Fender.
It will be interesting to see what kind of player Egnyte becomes in the cloud storage market over the next two to four years.