Cloud data security #startup Druva, a US-headquartered company born in India, has raised US$51 million in a funding round led by existing investor Sequoia India. The round was joined by EDBI, the investment arm of Singapore’s Economic Development Board, Blue Cloud Ventures, and Hercules Capital.
Druva says it has more than 4,000 clients worldwide, including NASA, Stanford University, NBC Universal, Marriott, and Hulu. It has now raised US$118 million in total funding.
The risk of business data loss increases as workforce mobility becomes ubiquitous.
Druva’s data protection tech involves a unified online platform that backs up data and keeps it safe while reducing the risk and cost of doing so. At the same time, it makes the contents available for use, management, and analysis, and offers disaster recovery functions.
The software is built on public cloud technology like AWS and Microsoft’s Azure, which allows it to scale without getting too expensive and helps avoid fragmentation of data and services.
The company will use the funding to push the company’s sales and marketing efforts and continue its global expansion. Druva has offices in the US, UK, Germany, India, Australia, Singapore, and Japan. It will also invest in further product development.
“The fragmentation of data, combined with increasing regulatory needs, is making enterprises everywhere rethink how information is best managed,” says Jaspreet Singh, Druva founder and CEO. “This new capital enables us to continue to serve customers through notable innovations, partnerships, and additional global expansion.”
“The risk of business data loss increases as workforce mobility becomes ubiquitous,” says EDBI president and CEO, Chu Swee Yeok. “EDBI looks forward to supporting Druva as it expands into new markets in the region through Singapore.”
Existing investors including NTT Finance, Nexus Venture Partners, and Tenaya Capital, also participated.