Files acquires ExaVault
|Richard Harris in Cloud Services Tuesday, March 29, 2022|
The cloud file automation and integration platform Files acquires ExaVault, making them the largest cloud-native files platform. This will allow them to deliver value by serving businesses of all sizes rather than focusing exclusively on enterprise ventures.
Files.com, the Cloud-Native SaaS platform for File Integration and Automation, announced the acquisition of ExaVault, a major cloud file transfer vendor for SMB and mid-market businesses. The acquisition will generate the largest cloud-native files platform, with over 6,500 active business-to-business (B2B) customers.
Through its award-winning enterprise-grade file transfer service, Files.com provides IT teams, developers, partners, and end-users with all the tools necessary to run operations quickly and efficiently. Each month, businesses such as The New York Times, Michelin, PBS, and Mozilla turn to Files.com to perform high-volume file automation on business-critical transfers including system-to-system, system-to-human, and human-to-system. Over the past year, Files.com has experienced exponential growth as an increasing number of enterprise businesses have moved away from on-premise Managed File Transfer (MFT) technology providers such as IBM, SolarWinds, HelpSystems, and Progress.
Cloud file automation and integration platform Files acquires ExaVault
"Legacy file transfer vendors like IBM, HelpSystems, and Progress charge enormous prices but haven't innovated in decades. We plan to continue to capture 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.com's technical capabilities for integration and automation while retaining the customer-first approach that has propelled both companies thus far. We're excited to bring their team and several thousand SMB and midmarket customers into the fold, which will greatly amplify our collective network effect and ecosystem reach," said Kevin Bombino, founder, and CEO of Files.com.
Files.com will be integrating the ExaVault platform so that any of the combined platform's 6,500+ customers will be able to directly exchange files with each other as part of an automated, secure on-platform workflow. The combined Files.com and ExaVault business now store nearly 2 million GB of customer data. The company also announced a 65% percent three-year revenue CAGR, underscoring the huge market potential for Files.com's growth. According to a recent Gartner report, the total value of the file transfer market will grow by $100 million per year over the next 3 years, reaching $1.4 billion by 2024.
"We are excited to join an industry leader like Files.com, who has a proven reputation of supporting customers through powerful solutions and exceptional service. Files.com's mission and approach mirror how we think and operate. Together, we will provide more value-driven innovation to customers through our greater combination of world-class tools, expertise, and experience," said ExaVault CEO David Ordal. David will continue to play an essential role in product development, serving as Files.com's new Chief Technology Officer.
Significant demand is expected through 2022 and beyond, as businesses are constantly challenged with access, security, and speed issues concerning file transfers, sharing, and storage. As the world's largest file automation and integration platform, Files.com is uniquely positioned to deliver value from its increasingly growing network effect, serving businesses of all sizes rather than focusing exclusively on Enterprise ventures like the legacy vendors. "ExaVault is the only other vendor we've met who gets this, and that's why we see this union as a win-win for all customers," said Kevin.
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