Egnyte was founded in 2007 by Amrit Jassal, Kris Lahiri, Rajesh Ram, and Vineet Jain. CEO Jain has stated that he believes a traditional IPO is the best path forward for the company and that he is "absolutely committed to going public." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Egnyte is a cloud-based software company that offers security, compliance, and collaboration tools for teams and businesses. The company's products are compatible with a variety of third party software platforms and productivity tools. Egnyte is on track to achieve $200 million in ARR in 2022. The company has raised $137 million in venture capital funding from investors including Goldman Sachs Group, Kleiner Perkins, GV, Polaris Partners, Seagate Technology, and CenturyLink. In 2018, the company was valued at $460 million, but there are reports that the company may be seeking an IPO valuation of $1.5 billion.