Cloud data protection and management startup Druva Inc., has acquired US-based cloud protection firm CloudLanes for an undisclosed sum of money, the company said in a statement.
The acquisition would help Druva to keep its data available on-site along with leveraging CloudLanes’ data recovery and workload mobility solutions, it added.
Druva’s founder and chief executive officer Jaspreet Singh said the organisations needed to move away from legacy architectures and data solutions. “Enterprises are now seeing first-hand the challenges of hybrid cloud solutions that are increasingly inflexible with today’s cloud-driven world,” he said.
While the San Francisco-headquartered CloudLanes says it provides companies with cloud-based backup and archival facilities along with securities at affordable rates.
Separately, CloudLanes co-founder and CEO Abhijit Dinkar said the company’s platform would enhance Druva’s reach. It will offer businesses more flexibility and cost-effective ways to manage their backup data.
Founded in 2015, CloudLanes says its hybrid approach is designed for optimising workloads involved in backup and archival processes. It offers services such as on-site cloud storage, guardianship and ransomware protection besdies audit logs and fast cloud uploads. It counts Sequoia Capital India and Nexus Venture Partners as investors.
Druva was founded in Pune in 2008 by Jaspreet Singh, an alumnus of Indian Institute of Technology-Guwahati, along with Milind Borate and Ramani Kothandaraman.
The company delivers data protection and management for the cloud. Druva’s cloud platform is built on Amazon Web Services. It claims to help customers reduce costs by up to 50% by freeing them from unnecessary hardware, capacity planning, and software management. Druva has more than 4,000 enterprise customers including Flex, Hitachi, Live Nation, Marriott, and Pfizer.
In June, the firm raised fresh funding of $130 million (around Rs 902.5 crore) to join the so-called unicorn club of technology startups valued at above $1 billion. The round was led by US investment firm Viking Global Investors, which manages around $28 billion of capital for investors.
Other investors who took part in the round included new backers Neuberger Berman and Atreides Capital and existing ones such as Riverwood Capital, Tenaya Capital and Nexus.