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Sequoia & Nexus-backed cloud data backup firm Druva raises $80 mn

22 August, 2017

Silicon Valley-based cloud backup and data protection firm Druva Inc has raised $80 million (Rs 515 crore) in a fresh round of funding led by Riverwood Capital, it said in a statement.

Sequoia Capital India, Nexus Venture Partners, NTT Finance, Tenaya Capital and most other existing venture investors also participated in this round.

With this, the total funding raised by Druva stands at nearly $200 million.

In September last year, the company had raised $51 million (Rs 340 crore) led by existing investor Sequoia Capital India.

Singapore’s EDBI, the corporate investment arm of Singapore Economic Development Board, as well as Blue Cloud Ventures and Hercules Capital were the new investors in the latest round.

The company had raised $25 million in its Series D round in 2014 and an equal amount in Series C funding the year before. In 2011, it raised $12 million in its Series B round of funding.

The fresh capital will be used by the company to accelerate research and development and expand go-to-market efforts worldwide.

“Druva delivers an as-a-service protection and management solution for all enterprise data ncompassing infrastructure, endpoints and cloud applications.

We are impressed by Druva’s ability to help organisations redefine their data protection and management strategy in a cloud-first world leveraging the performance, scale and ease of use of the public cloud and SaaS,” said Jeff Parks, co-founder and general partner at Riverwood Capital.

Druva was founded by IIT Guwahati alumnus Jaspreet Singh along with Milind Borate and Ramani Kothandaraman in Pune in 2008.

“Druva’s as-a-service solution eliminates costly and complex infrastructure to quickly and seamlessly protect, govern and gain intelligence from data when and where it is needed,” said Singh.

The company’s solutions aggregate data from endpoints, servers and cloud applications and leverage the public cloud to offer a single pane of glass to enable data protection, governance and intelligence. The firm claims it increases the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it.

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Sequoia & Nexus-backed cloud data backup firm Druva raises $80 mn

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