Online storage and document sharing solutions firm Egnyte could be boosting their brand substantially with a helping hand from search giant Google.
Google’s venture capital investment arm ‘Google Venture’ has invested $16million in Egnyte and along with existing investors Kleiner Perkins Caufield & Byers and Polaris Ventures their grand total of investments has reached $32million.
Google’s Series C funding will help the company build up their presence within their field and will go a long way towards marketing. CEO Vineet Jain was obviously delighted to have been invested in by one of the world’s biggest brands as well as gaining a board member: Google Venture’s Karim Faris.
Jain expressed his concerns about the current visibility of Egnyte within its sphere and explained that “There’s been a huge amount of marketing dollars spent by our friends at Box (their competitors). The number one problem I need to address is that our awareness is still low compared to Box”.
It seems a large amount of the new found investment money will be spent on marketing and advertising in all of its forms.
As well as a well maintained effort into marketing, Egnyte are also hoping to spread themselves a little further globally.
They already run a data centre in Amsterdam and with plans to open a marketing office somewhere else in Europe, Egnyte will really be getting the foothold they need on the global market.
Google’s investment came off the back of the innovation shown by the technology offered by Egnyte and its hybrid nature. The big winner in terms of consumer online storage is ‘Dropbox’.
But where Dropbox fails on a commercial level, Egnyte pick up the pieces so any personal user of Dropbox will find an easy transition between the two.