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Cloud data protection and information management company Druva has raised $51 million from Singapore-based EDBI, as well as Blue Cloud Ventures and Hercules Capital. Existing investors Sequoia, NTT Finance, Nexus Venture Partners and Tenaya Capital also participated in this round.
With this Druva's total funding raised so far is pegged at $118 million.
This new funding round comes as Druva experiences strong growth and demand for its cloud-based data protection and information management solution.
Over the last two years, Druva increased its global presence, growing to over 400 employees and expanding direct presence, launching subsidiaries in both Japan and Germany, while simultaneously growing its enterprise customer base by more than 1,000.
New customers gained during the period included NASA, Chipotle, LiveNation, Hulu, Marriott, Leidos, NBC Universal, ServiceNow, Stanford University and others.
The funds will be used to drive the company’s global objective to transform the way enterprises protect and manage information, the company said in a statement today.
The capital will be used to accelerate both product innovation and adoption, all while enhancing product capabilities across Druva’s secure cloud platform. In addition, the capital will be used to further drive sales and marketing, and continue the company’s global expansion.
“Our customers are entering a new era of public cloud and Druva is at the forefront. The fragmentation of data, combined with increasing regulatory needs, is making enterprises everywhere rethink how information is best managed. In today's age, simple is genius, and Druva's 82 NPS speaks to how our cloud-first approach is simple yet disruptive,” said Jaspreet Singh, Druva founder and CEO.
Druva’s cloud-first architecture offers a unified approach to data protection. Unlike the traditional approach of managing data silos like backup, DR and eDiscovery, etc., with Druva, information is backed up once, and the platform enables advanced management and discovery analytics capabilities. This dramatically increases the availability and visibility of business critical information, while reducing the risk, cost, and complexity of managing and protecting it.
The platform is built natively on public cloud platforms like AWS and Azure, and delivers unmatched scale and cost advantages, all while reducing the data risks inherent in today’s fragmented data environment.
“The risk of business data loss increases as workforce mobility becomes ubiquitous. Druva’s superior solution to safeguard critical data through their unified cloud-native platform mitigates such risks whilst enhancing IT productivity and cost savings,” said Swee-Yeok CHU, Chief Executive Officer and President at EDBI.
“EDBI looks forward to supporting Druva as it expands into new markets in the region through Singapore," he added..
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