Dropbox has announced its largest acquisition since its founding in 2007, agreeing to purchase Tigris Data for $350 million. The startup, founded in 2021 by former Uber engineers, specializes in localized data storage centers designed for distributed AI workloads.
The deal provides Dropbox with a storage platform for developers operating across multiple cloud providers. This acquisition supports the launch of DBX Agent Cloud, a new service offering object storage for data used to train and run AI models.
This move marks a strategic shift for Dropbox as it expands from file storage into AI infrastructure. The company aims to serve a new audience of developers while continuing to integrate AI features into its existing file-sharing products.
Tigris previously raised $31.9 million, including a $25 million Series A round in October 2025 led by Spark Capital. The startup reported an 8x annual growth rate since its inception in November 2021.
Dropbox has completed 35 acquisitions to date. Recent purchases include Reclaim.ai, Nira, Promoted.ai, and Mobius Labs. Previous major deals include HelloSign for $230 million, DocSend for $165 million, and FormSwift for $95 million.
