Dropbox announced plans to acquire Tigris Data for $350 million, marking its largest acquisition since the company's founding in 2007. Tigris, founded by former Uber engineers and based in Sunnyvale, California, operates a network of localized data storage centers designed for distributed AI workloads.
Tigris raised $31.9 million total since its founding in 2021, with a $25 million Series A in October 2025 led by Spark Capital and including Andreessen Horowitz and Basis Set Ventures. General Catalyst participated in earlier rounds. Co-founder and CEO Ovais Tariq said the startup had grown 8x annually since November 2021.
The acquisition aligns with Dropbox's shift into AI infrastructure. The company unveiled DBX Agent Cloud, which offers object storage for companies building AI applications across multiple cloud providers. Eric Webster, Dropbox's chief business officer, said the purchase would "accelerate our entry into infrastructure for AI applications through DBX Agent Cloud." Tigris brings "a product already running in production, an experienced team, and established relationships with AI developers," Webster told Crunchbase News.
Dropbox has made 35 known acquisitions overall, but slowed its pace significantly. It conducted 23 publicly reported acquisitions between 2012 and 2015, including nine in 2014. In contrast, it made four acquisitions across 2024 and 2025. Recent purchases include Reclaim.ai and Nira in 2024, followed by Promoted.ai and Mobius Labs in 2025.
Dropbox's other sizable prior acquisitions included HelloSign for $230 million in 2019, DocSend for $165 million in 2021, and FormSwift for $95 million in 2022.
The company pursues two parallel AI strategies. DBX Agent Cloud targets developers and infrastructure markets, while Dropbox integrates AI directly into its file-sharing product to help customers find, understand, create, edit and organize content using supported AI models like ChatGPT and Claude.