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Files, a software-as-a-service (SaaS) file transfer platform for file integration and automation, announced the acquisition of ExaVault, a cloud file transfer provider for small and medium-sized businesses. This deal is expected to lead to what the company describes as the largest cloud-native file platform in the industry, serving more than 6,500 business-to-business (B2B) customers.
Files, founded in 2009, equips IT teams, developers, partners and end users with all the tools they need to streamline their operations. With a customer base of The New York Times, Michelin, PBS, Grubhub, Mozilla and more, Files claims that enterprises use Files to perform large-scale file automation and facilitate business-critical transfers between end users, teams, organizations and customers.
disrupt IT
While the cloud continues to disrupt traditional areas of IT, many of the largest providers to the $1.2 billion file-sharing market still rely on legacy on-premises technologies like FTP/MFT. However, Files has experienced an annual growth rate of 65% in recent years as companies gradually embrace cloud-native solutions.
“Outdated file transfer vendors like IBM, HelpSystems, and Progress charge huge prices but haven’t innovated in decades,” said Kevin Bombino, founder and CEO of Files. “We plan to continue to conquer their customer base with a more affordable, cloud-native solution that leverages industry-leading automation. I look forward to combining ExaVault’s obsessive focus on speed and performance with Files’ technical capabilities for integration and automation, while retaining the customer-centric approach that has propelled both companies to date. We are excited to bring their team and several thousand SMB and mid-sized customers into the fold, which will greatly increase our collective network effect and ecosystem reach.”
The goal of Files integration with ExaVault is to ensure that all customers of the combined platform can instantly exchange files with each other as part of an automated, secure workflow on the platform. The combined Files and ExaVault operations now store nearly 2 million GB of customer data. According to a recent Gartner report, the total value of the file transfer market is estimated to grow at $100 million per year over the next three years, reaching $1.4 billion by 2024.
“We are delighted to join an industry leader like Files, which has a proven reputation for supporting customers through powerful solutions and exceptional service. Files’ mission and approach reflect how we think and work,” said David Ordal, CEO of ExaVault. “Together, we will provide customers with more value-driven innovation through our greater combination of world-class tools, expertise and experience.” Ordal will continue to lead the company’s product development efforts and will serve as Files’ new CTO.
Demand is expected to grow through 2022 and beyond as businesses face access, security and speed challenges when it comes to file transfer, sharing and storage.
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This post Files Acquires ExaVault to Provide Automated, Secure Cloud Platform
was original published at “https://venturebeat.com/2022/03/25/files-acquires-exavault-to-provide-automated-secure-cloud-platform/”