Cloud Backup and Recovery Platform Provider OwnBackup Receives $23 Million Investment

May 31, 2019
Cloud Backup and Recovery Platform Provider OwnBackup Receives $23 Million Investment
Cloud backup and recovery platform provider OwnBackup has received an investment of more than $23 million. OwnBackup, which has headquarters in Fort Lee, New Jersey, United States, operates under the slogan “no company operating in the cloud should ever lose data”. The company offers a range of cloud backup services which include automated ‘Cloud-to-Cloud’ backups of SaaS and PaaS data. They also include backup services for Salesforce, ServiceNow and Slack. The company’s investment was received as a Series C round.

OwnBackup’s $23.25 million investment was financed by Insight Venture Partners and Vertex Ventures. Current investors Innovation Endeavors, Oryzn Capital and Salesforce Ventures also contributed. OwnBackup currently caters to 1,000 businesses globally and alongside growing its customer base the money will be used to onboard new executives. News of the investment comes against the backdrop of the company announcing the general availability of ‘OwnBackup Archiver’ - a regulatory compliance tool designed for SaaS platform users which automatically archives data and attachments.

“Thanks to the unwavering support of our committed investment partners, we will be able to continue to scale to meet escalating market demand for our solutions as companies realize the need to claim ownership of cloud data security concerns and proactively ensure their data is protected and accessible at all times,” explained Sam Gutmann, the CEO of OwnBackup. “As we set the bar for cloud data protection, our focus continues to be growing the team and leading the pack in cloud data protection innovation.”

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