Egnyte is an American technology startup that protects businesses that operate on the cloud in an online environment. The platform supplies a unified security and governance package for content, data, and networks. Egnyte is lauded for its simple format that helps keep cyber threats at bay for clients. If you're not yet familiar with the company or its products, here are twenty things you probably didn't know about Egnyte.
1. Egnyte is a Silicon Valley startup
Crunchbase reports that Egnyte is a Silicon Valley tech startup. The headquarters is in Mountain Valley, California. It is one of many tech companies that emerged from this highly productive region of America.
2. Egnyte is an established company
Egnyte has been around for a while. The founders commenced the operation of the enterprise in 2007. The legal name of the business is Egnyte, Inc. Founders of Egnyte are Amrit Jassal, Kris Lahiri, Rajesh Ram, and Vineet Jain. As of 2022, Egnyte enters its fifteenth year in business. It's been around long enough to establish its reputation solidly in the technology industry. The products and services Egnyte provides are progressive and innovative to step up protection with changing needs of its clients.
3. Egnyte is listed across four industries
Not all tech companies cover the same areas of specialization. Egnyte is listed across four industries on the internet to help direct the most appropriate clients to its website. It is an Enterprise Software producer. Specialties that earned its classifications into multiple market sectors include File Sharing, Computer, and Collaboration for enterprises. The platform provides cyber protection from hackers and other cybercriminals, but it focuses on protecting content and data with special attention to file sharing, to make these processes safer in a cloud-based environment.
4. Egnyte uses a broad spectrum of technologies
The website for Egnyte actively uses 49 technologies to power its website. They're distributed across 60 technology products and services. Some of them include Google Font API, iPhone Mobile Compatible for mobile phone users, Viewport Meta, jQuery, Google Analytics, HTML5, and dozens of other products and services. Although it's a complicated assortment of tech products, the IT workers at Egnyte use them to keep the website running smoothly and seamlessly for visitors from all types of devices.
5. Egnyte has a high overhead cost
The costs for IT spent by Egnyte are high. Although it's the cost of doing business, the company reports that its IT budget has set aside a generous amount for Information technology staffing, products, and services. The estimated amount that it will spend for 2022 is $513.2K.
6. Downloads for Egnytes products and services are on the rise
Analytics reports for the past thirty days indicate there is an increasing interest in Egnyte products and services. The total number of downloads in the past month is 468. This number represents a monthly download growth of 95.82 percent. It shows that revenues are also rising. The most popular app downloaded from Goo9gle Play, and Itunes Connect is Egnyte, followed by Egnyte Enterprise solutions.
7. Egnyte maintains uniqueness in the tech industry
Egnyte's products are different than those of its competitors. Egnyte has assured that it will maintain uniqueness by securing twenty-four registered patents in the Computing and Calculating category. On top of that, Egnyte secured six registered trademarks in the Scientific and electrical apparatus and instruments categories. This is a high number of patents and trademarks that provide legal protection over the intellectual property that Egnyte's engineers in the research and development departments created. None of its competitors may legally copy or imitate the elements of its products and solutions that are protected under patents and trademarks. This assures clients that Egnyte's solutions are unique and inimitable.
8. Web traffic is picking up for Egnyte
The analytics reports for the Egnyte website show that the volume of web traffic is on the rise. Over the past thirty days, Egnyte received 2,779,163 visitors to its website. The number reflects a monthly visits growth of 15.8 percent. The high volume of website visits ranks the Egnyte website as number 20,749 among the millions of websites registered on the world wide web. It is one of the largest and most visited websites in the world today.
9. Egnyte is the most popular in the United States
Data collected about the visitors to the Egnyte website give us a look at where the visitors come from throughout the world. The numbers show that 79 percent of the visitors come from the United States. The numbers reflect a monthly visits growth rate of 19.36 percent for the country. Five percent of the web traffic comes from the United Kingdom with a monthly visits growth of 59.84 percent. Three percent of the visitors come from Canada, and three percent are from India with a monthly growth rate of `17.42 percent. Two percent of the web traffic is from people in Moldova.
10. Egnyte has a strong core leadership team
The executive leadership team at Egnyte is 18 members strong. Vineet Jain is a co-founder and chief executive officer. Kris Lahir is a co-founder, CSO, and vice president of operations. Amrit Jassal is the chief technology officer. Charles Lawson is the general manager and vice president of EMEA. Ronen Vengosh is the vice president of business development. Dean Chabrier is the chief people officer. Rajesh Ram is a co-founder and chief experience officer. Navtej Sing is the director of marketing. They are joined by several other high-ranking executives not listed.
11. Egnyte has an 8 member board of directors
The board of directors for Egnyte consists of eight members with years of experience in the business. Tim Matthews joined Egnyte's board in February 2019. He serves on two boards as an advisor. Holger Staude is the GS Groth at Goldman Sachs. Holger joined the board in October 2018. He currently serves in four advisory roles. Vineet Jain joined the board in 2006. He is co-founder and CEO of Egnyte. He currently serves on two boards in advisory roles and has founded two organizations. Tom Schodorf joined the board in 2018. He is the Strategic Advisor and Board Evangelist for Proof. he currently serves on four boards of directors as an advisor. Karim Faris is a general partner at G. He serves on fifteen boards in advisory roles. David Barrett is a managing partner at Polaris Partners. He currently serves on ten boards as an advisor. Matt Murphy joined the board in February 2011. He is a managing director at Menlo Ventures with one portfolio company. He currently serves on thirty-one boards in advisory roles. Mike Maples Jr. is a co-founder and partner of Floodgate with seven portfolio companies and one exit.
12. Egnyte is a venture-capital supported enterprise
Egnyte has participated in six rounds of venture capital fundraising. The most recent Series E round closed on October 10, 2018. The total amount raised is $137.5 million. The enterprise is considered a late-stage venture capital-funded business.
13. Egnyte has high investor confidence
Egnyte successfully attracted and secured the support of nine investors. Four of these companies as lead investors. It's not easy to convince wealthy investment firms that your tech startup will make them money on their investments. The public relations team from Egnyte did an exceptional job promoting the business. The high dollar amount tells us that investors have high confidence in the likelihood that Egnyte will continue to grow, prosper and generate profitable returns on their investments. The most recent investors to join in the fundraising efforts include Polaris Partners and GS Growth, a lead investor. Kleiner Perkins, Northgate Capital, Century Link, GV, Seagate Technology, and others also invested in Egnyte.
14. Egnyte is a privately held enterprise
Techcrunch confirms that Egnyte is still a privately held organization. The co-founders still own the business and have not opted to sell shares of the organization publicly. They've not yet filed for an initial public offering. For this reason, you will not find shares of Egnyte stocks for sale or trade on any of the public stock exchanges. The funding necessary for its launch, growth, and development comes from private investors. The terms of investment are not made public. We assume each investor received a guarantee of a return on their funding in the form of company shares.
15. Egnyte plans to go public
Egnyte has enjoyed a steady pattern of growth. As the company reached a $150 million ARR, the owners are looking toward a future initial public offering. The owners shared their vision to take the company public. The business hit its fifteen-year mark then moved past the definition of a startup. It is more aligned with an established company in status. It's a veteran as a private company and has accomplished a steady growth pattern. It added fifty million to its $100 Million ARR in just two years. The next goal of the company is a possible IPO. The filing could happen as soon as later in 2022. The execs at the company are weighing their options and may agree with a SPAC or possibly private equity firms.
16. Egnyte has a high growth rate
Investors in Egnyte were correct in assuming that the business would be profitable. Leaders from the executive team shared that Egnyte has a solid growth rate. It ranges between 35 to 40 percent. The owners had offers on the company but resisted them in favor of a traditionally public company. The Software-as-a-Service platform is gaining popularity throughout the world. They're still considering the macroeconomic conditions that could affect the success of an IPO if done at the wrong time. They're waiting for the best time to file the IPO. Plans include paying back early investors and patient employees who endured slow growth through the years.
17. Egnyte is a company with integrity
Although Egnyte showed slow growth for the first twelve years of its existence, it rebounded with a solid foundation and began to see more rapid growth in recent years. The co-owners refused to cut corners or take shortcuts in achieving the overall goals. The actions helped Egnyte to maintain its integrity. One of the co-founders shared that she emigrated to the US in the early 1990s. He takes personal pride in the integrity of Egnyte and aims to see it through to completion by taking the company public. He wants to show the world and people in the United States that it is still possible to come to the country and build a company with value, then take it public. The owners didn't fall for many pitfalls by seeking fast growth through intensive spending. They stayed on the traditional course of continuing to build slowly. When it hit a magic milestone about five years ago, retention increased. The company is selling more products than ever before. Three of the past five years show a positive cash flow.
18. Egnyte is hiring
According to LinkedIn, Egnyte is building its already large workforce. Egnyte has a current workforce of 745 staff members before making any new hires. We noticed that the company listed 160 new jobs. They're enlarging the tent stakes and getting ready for another growth spurt.
19. Egnyte is expanding internationally
Many of the new job openings for Egnyte are available in different countries. It suggests that they're getting ready for an international expansion. We saw openings for an invoicing analyst in Mumbai, India, a VP of global communications Mountain View, California, USA, with jobs in Chicago, Illinois, Raleigh, North Carolina, Salt Lake City, Utah, Spokane, Washington, Reading, England, in the United Kingdom, and other locations.
20. Egnyte is a company to keep your eye on
Although Egnyte isn't on the public stock exchange, that is about to change. Owners are weighing their options for taking the company public. Execs plan to wait for the most opportune moment to file for the IPO. At some point shortly, shares of stock in Egnyte will become available. This company bears watching as a potential addition to diversifying your current investment portfolio.
Written by Allen Lee
Read more posts by Allen Lee