Druva, a start-up based in Sunnyvale, California, announced $80 million in new funding for its cloud data protection and management solutions.
Druva provides a data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence. Earlier this month, Druva announced the Druva Cloud Platform Tech Preview, which converges its Druva Phoenix and Druva inSync cloud solutions, and offers a unified view into services and data.
Druva said its success is fueled partially by the rapid expansion of the data protection industry, with market size expected to be $28 billion in 2022 for both cloud-based and on-premises servers, in addition to the rapid cloud data protection and management adoption by Global 5000 organizations.
“We see today’s digital transformation as a data transformation, and protecting data in today’s cloud-connected environment requires a fresh approach,” said Jaspreet Singh, co-founder and chief executive officer at Druva. “Druva’s as-a-Service solution eliminates costly and complex infrastructure to quickly and seamlessly protect, govern, and gain intelligence from their data when and where it’s needed.”
The new funding round was led by Riverwood Capital, with strong participation from Sequoia Capital India, Nexus Venture Partners, Tenaya Capital, and most other existing venture investors.
This brings Druva’s total raised to data to approximately $200 million.
- In May, Druva reported that it is seeing more than 300 percent year-over-year growth in infrastructure data protection revenue. Additionally, Druva Cloud deployments now span more than 4,000 enterprise customers, including 10 percent of the world’s Fortune 500 companies.
