Posted by: MelanieYarbrough
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Start-ups are raising venture capital everywhere we look. Here are some of the most promising of the start-ups providing storage as a service that are well on their way to being a force to reckon with.
The San Fransisco-based storage-as-a-service provider has raised $7 million in its second round of venture funding, totaling $13 million to date. The company announced plans to open a New York office to expand its sales and services to the East Coast as well as improving its “distributed object-based storage platform, adding full multi-tenancy for Service Providers who want to offer Virtual Private Clouds, and new tiering algorithm for the Private clouds environments.”
Its major accomplishment so far is doubling its funding in May 2010 after successfully delivering an email platform to Telenet’s over 2 million users.
The Silicon Valley-based file storage and sync provider has raised $10 million in its second series of funding, totaling $16 million to date. Often compared to Dropbox, Egnyte’s service utilizes a hybrid cloud solution that is geared toward SMBs. The client links a network-attached storage device to its office computers, constituting the local cloud where all files are synced and backed up. The local cloud is then linked to Egnyte’s servers for a remote access-enabled web backup. Clients are given security permission layers and have control over file sharing administration.
Egnyte experienced a quadrupling of its customer base in 2010, and boasts over 500,000 user licenses and 5 billion files synced. Its claim to beating Box.net in large data upload speed is backed by its average of 3,000 file uploads and downloads per minute. Egnyte’s plans for its most recent funding is to expand to international markets while increasing domestic sales, marketing and engineering. Look out for their logo in the enterprise application section of the next version of the iPad’s app store.
Despite Egnyte’s claims to speeding by Box.net’s capabilities, this Palo Alto-based online file storage and collaboration software provider takes the cake with its $48 million in its fourth round of funding. Rather than Dropbox, Box.net gets compared to a certain social networking site because of its young founders, which may serve as its greatest asset. As Box’s Chief Executive Aaron Levie told the Wall Street Journal, big vendors such as “Microsoft are just not innovating fast enough,” which in turn “create[s] huge…opportunities for guys like Box.” The company plans to double its 140-person staff within the next year, expand to international markets and step up their game in mobile applications. Good thing, too, since it’s servicing 5 million users at 60,000 companies, 73 % of which are in the Fortune 500, including Cisco and Panasonic.
Where is your company looking for its cloud storage and backup solutions? Are startups meeting the needs of small, medium, and big enterprises alike, or is there something left to be desired at the moment? Share your thoughts and experiences in the comments section or send me an email at Melanie@ITKnowledgeExchange.com.