Cloud Data Protection and Management Company Druva Receives $130 Million Investment

June 24, 2019
Cloud Data Protection and Management Company Druva Receives $130 Million Investment
Cloud data protection and management company Druva has received a $130 million investment. Druva has global headquarters in Sunnyvale, California, United States and was established in 2008. Still a startup, the company caters to a global customer base of around 4,000 companies. Its platform is built on the Amazon Web Services (AWS) cloud infrastructure and available on an ‘Software-as-a-Service’ (SaaS) basis. This helps Druva’s customers “drive down costs by over 50 percent” and frees them from the costs inherent in acquiring hardware and software. The financial injection was supported by Sequoia Capital, Tenaya Capital, Riverwood Capital and Nexus Partners.

Druva specializes in a range of areas including ‘Big Data’ and caters to companies involved in cloud adoption. Its services also include cloud computing, cloud server backup, secure file sharing services, Data Loss Prevention (DLP) services, enterprise endpoint backup, and endpoint data governance options. The company’s latest $130 million investment brought its total investment to date to $328 million. The money will be used to accelerate growth and global expansion, and “spur product innovation”.

“The line between data and business is blurring,” explained Druva’s founder and CEO, Jaspreet Singh. “The data management market is forecasted to be worth $55 billion next year, yet the landscape is dominated by solutions that are 20 years old. Today’s funding will help Druva to power data protection for the cloud era, and accelerate our momentum to better serve the needs of enterprise customers.”

Do you know of any other companies winning additional investment? Let us know the details. Add your comments below.

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