Congratulations to our client Egnyte on raising $6M in this down economy. I have mentioned these guys before in my blog, because they are a great example of a company building a recurring revenue business (SAAS type model), and doing a lot of things right. Their solution lets small businesses store, share and collaborate through an on-demand file server.
Founders Vineet Jain and Rajesh Ram, both experienced veterans of supply chain management company Valdero have been working since 2006 to develop the most streamlined, user-friendly file server for small and medium businesses. Month over month growth has been steady at 15% for the past six months. Polaris Venture Partners joins seed investor Maples Investments in this Series A Round.
