How Egnyte aims to protect company data, no matter where it is stored
Managing content risk is like the open secret that we are all aware of, but that fails to tighten the grip. Due to the new standards of hybrid and remote desktop environments, content is the most exposed data.
Egnyte, an all-in-one platform, makes it easier for IT to manage and control a full range of content risks, including data loss prevention, compliance with regulatory and privacy obligations, Ransomware attack detection and resolution and proper data lifecycle management, while ensuring businesses are using the content they need to work faster and smarter, from any device, anywhere.
When egnyte started its journey in 2007 out of Silicon Valley, the idea was to fundamentally transform a file server into a multi-tenant cloud architecture: “There was a need for appropriate software solutions where businesses could store their data with the freedom to access it from anywhere, thus reducing the cost of purchasing equipment, ”explains Vineet Jain, CEO, Egnyte.
The startup was initially dedicated to migrating the entire content management infrastructure to the cloud. As their customer base began to expand beyond SMBs, they also felt the need to focus on growing concerns about data privacy and security, as well as governance and regulatory compliance policies. Egnyte could predict that the future would be in the cloud and therefore made the strategic business decision to shift the development from engineering to the secure sharing of sensitive data in multi-cloud environments. Specifically, in environments with a mix of on-premises and cloud-based repositories. Today, Egnyte has grown into a unified cloud content governance solution for collaboration, data security, compliance and threat detection for multi-cloud enterprises.
Responding to the reason why the company was named “Egnyte”, Amrit Jassal, the CTO, explains: “It was a way to revolutionize the methods and structures that people have known for so long. Egnyte is the change that must be made in ideas.
Business and Growth
“Making sure the product is relevant to the market and hiring the right people is essential when setting up a new business, ”says Vineet when asked about the obstacles he had to overcome. . However, a particular challenge was that the cloud at that time was not a common concept, and the tendency was to go for a ‘freemium’ approach, i.e. offering something for free, but charging more. “premium” features.
But Vineet believed in the caution of slowly synchronizing cloud technology. Egnyte focuses on the quality of the product and sticks to its ideology of never offering a product that is perpetually free. With technology evolving at such a rapid pace, Egnyte’s co-founders knew the cloud was the future and they decided to advance their solution to adapt to the changing technology landscape.
Interestingly, with Egnyte’s growth trajectory of its more than 16,000 customers worldwide, the growth rate accelerated to 40% quarter over quarter. Being fiscally prudent is the motto that drives Egnyte. Despite building a client base with big names like BCG, RedBull and IKEA, Egnyte’s main target groups are mid-sized companies, which generate almost 60% of total turnover.
Amrit clarified unstructured content as “files, emails and most of the content that is not in a company’s database.” Egnyte ensures that companies manage their content securely, both inside and outside the company. In addition, deepening the security aspect, Egnyte applies governance and data compliance policies to content placed in various file repositories, whether they are own or third-party repositories.
COVID-19 has actively become part of Egnyte’s growth story. It has accelerated the pace of remote working around the world, increasing the risk of massive content vulnerability while creating a business need for secure file sharing outside of corporate security perimeters. Securing remote work therefore becomes important and begins with identifying valuable / sensitive content and then enforcing policies that persistently secure data, whether that data is in transit, in use, or at rest. .
Egnyte does not market or sell in India, but almost all of its major customers have their operational bases here. Thus, Egnyte invariably appeals to Indian users, not directly but under the aegis of their customers around the world. However, the problem of content management remains the same regardless of the country.
Why join Egnyte?
India is the hotbed of tech talent, and it’s always a good thing to work in the midst of change. Egnyte has already started to pave the way for the new future of work in today’s hybrid model. Thus, it is always enticing to join a workforce that is open to new technologies while overcoming obstacles and promising a revolutionary future that fits into the landscape. Be with the best company and take your chance to improve your career in a decentralized workforce.
One of the biggest challenges when tracking growth is scaling, according to Vineet. Egnyte plans to step up its engineering operations, while building its core team in India, with 50-100 extremely talented engineers in the shortest possible time.
The plan is to provide growth opportunities for team building related to core infrastructure improvements and huge product expansion on the data security side. Additionally, Egnyte has a list of interesting issues when operating on petabytes of data and handling billions of requests. Amrit believes that India, being the land of technical talent, would be interested in working on these unresolved issues and improving the path to understanding.
As for Egnyte’s future, there will be massive investments in the various principles of the organization, including expanding talent and growing the company’s global footprint. Finally, as the convergence of governance and collaboration grows as a viable market opportunity, with growing concerns about data security, Vineet dreams of Egnyte potentially becoming “three times the size of what we are.” currently “.