The short version
● Price — about $350 million
● Scale — largest Dropbox acquisition since 2007
● What Tigris does — localised storage for distributed AI workloads
● Also launched — DBX Agent Cloud
Dropbox announced on 5 November that it plans to acquire Tigris Data for about $350 million. Dropbox told Crunchbase News this would be its largest acquisition since the company was founded in 2007. Payment terms and a closing date were not given.
Tigris, based in Sunnyvale, builds a network of localised data storage centres pitched at the distributed compute needs of modern AI workloads. It was founded in November 2021 by former Uber engineers, and co-founder and chief executive Ovais Tariq said in October 2025 that the company had grown eightfold every year since. Tigris had raised about $31.9 million, including a $25 million Series A led by Spark Capital with Andreessen Horowitz and Basis Set Ventures, after earlier backing from General Catalyst.
Alongside the deal Dropbox unveiled DBX Agent Cloud, which it describes as a significant shift in its AI strategy. It starts as standalone object storage for large collections of images, video and files used to train and run models. That is a different business from consumer file sync, and buying the infrastructure rather than building it is the part worth noting: Dropbox is paying roughly eleven times what Tigris raised in total to skip five years of building.
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