Dropbox Plans $350M Tigris Buy as AI Infrastructure Push Expands

Dropbox announced plans to acquire Tigris Data for $350 million in a transaction the company told Crunchbase News would be its largest acquisition since its founding in 2007. The planned deal centers on Tigris’ storage platform, which is built for developers whose applications run across multiple cloud providers. For readers tracking enterprise software, the key takeaway is that Dropbox is positioning the purchase as more than a file-sharing add-on: it is a step into infrastructure for AI applications.

Tigris is a Sunnyvale, California-based startup founded by former Uber engineers. The company is building a network of localized data storage centers that it says can meet the distributed compute needs of modern AI workloads. Tigris has raised about $31.9 million since its founding in 2021, including a $25 million Series A in October 2025 led by Spark Capital with participation from Andreessen Horowitz and Basis Set Ventures.

The acquisition news coincides with what Dropbox describes as “a significant shift” in its AI strategy. Dropbox also unveiled DBX Agent Cloud, which will initially offer standalone object storage for large collections of data, including images, video and files used to train and run AI models. Dropbox Chief Business Officer Eric Webster told Crunchbase News that Tigris brings “a product already running in production, an experienced team, and established relationships with AI developers,” which would accelerate Dropbox’s entry into AI application infrastructure.

Dropbox has made 35 known acquisitions, according to Crunchbase, with much of that activity concentrated in earlier years. Between 2012 and 2015, it conducted 23 publicly reported acquisitions, compared with four acquisitions across 2024 and 2025. Recent purchases have focused on AI-powered productivity, search and security, including Reclaim.ai, Nira, Promoted.ai and Mobius Labs.

Dropbox’s AI push has two tracks: adding AI to its existing file-sharing product and expanding into storage infrastructure for AI applications and agents. For existing customers, Webster said Dropbox is bringing AI directly to files to help users find, understand, create, edit and organize content. Customers can switch between supported AI models and work with Dropbox files in tools like ChatGPT and Claude, with results returning to Dropbox.