Egnyte, a company with file syncing and sharing software that companies can use as a cloud service or run in their own on-premises data centers, is announcing today the launch of a new cloud service, Egnyte Protect. It will allow companies to manage the storage and use of content, whether it’s stored in Egnyte or in other services, such as Box or Microsoft SharePoint.
The new product will let administrators enforce policies about who has access to certain types of content, detect anomalies in file access, encrypt documents to prevent unwanted viewing, store specific types of files in designated places, and handle data retention across multiple services.
The enterprise file syncing and sharing market is becoming a commodity, Egnyte cofounder and CEO Vineet Jain told VentureBeat in an interview. “You need a bigger play to be a viable and sustainable company in your own right in the long-term,” he said. With that in mind, the company is taking its first step outside the market where it has done business for many years. The move should help Egnyte further distinguish itself from cloud-only syncing and sharing services, as well as from on-premises document management software.
Now Egnyte will face new competition. Dell, HP, IBM, Symantec, Veritas, and other companies already sell data governance and data protection tools.
Egnyte’s core file syncing and sharing product will remain available, although it’s being renamed Egnyte Connect. Companies will be able to start using the new product without previously being Egnyte Connect customers.
Egnyte will sell subscriptions to the new service, which is currently in beta following several months of research and development. Beta users include HotelTonight and Yamaha.
Pricing will be based on how much content is being managed, how many users have access to content, and how many storage repositories are being used. Dropbox, EMC Documentum, and Microsoft OneDrive support will arrive in the future.
Egnyte started in 2007 and is based in Mountain View, California, with around 300 employees. The company expects to be cash-flow positive later this year; it last raised funding in 2013.