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Print Edition StoriesTuesday, July 28, 2009
Polaris helps pump $6M into Egnyte
By Mass High Tech Staff
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Waltham-based venture capital firm Polaris Venture Partners has jumped on board as a new investor in a $6 million funding in California company Egnyte Inc., a provider of on-demand file server products.
The Series A round, which also saw participation from existing seed investor Maples Investments, will be used to speed market adoption of Egnyte’s products and grow the company’s channel distribution, according to officials.
Egnyte, founded in 2006, provides an On-Demand File Server for small and midsize businesses to store all corporate data, securely share files within and outside the company, and back up employee computers in the cloud. In March 2009, the company a blended online and on-premises product called Egnyte “Local Cloud.”
Polaris Venture Partners and Maples Investments are also investors in LogMeIn and SolarWinds, both of which went public in recent months.
In the last week, Polaris participated in funding rounds in hydrogel company I-Therapeutix Inc., protein-silencing drug maker Avila Therapeutics Inc. of Waltham, and Cerulean Pharma Inc. of Cambridge.
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