Software startup Clumio
has received a $51 million investment to develop its cloud-hosted data backup and recovery tools. Clumio, which has headquarters in Santa Clara, California, United States, was established in 2017. The company bills itself as an innovator for “authentic Software-as-a-Service (SaaS) for enterprise backup and recovery” and its specializes in SaaS, public cloud, and data management solutions. Its solutions protect companies from the type of data loss that can ruin businesses.
Clumio’s solutions eliminate the need for “hardware and software for on-premise backup” as well as the cost and complexity of hosting a third-party backup solution in the cloud. The company’s customers use its services to protect workloads like VMware Cloud on AWS and native AWS services. It has been operating in stealth mode while developing its cloud-based backup solution portfolio. Clumio received two rounds of investment - a ‘Series A’ round led by Palo Alto-based Sutter Hill Ventures, and a ‘Series B’ led by San Francisco-based ‘Index Ventures’ alongside some involvement of Sutter Hill, also of Palo Alto, California, United States. The company’s latest news brings its total investment to date $553 million in venture capital.
“Enterprise workloads are being ‘SaaS-ified’ because IT can no longer afford the time, complexity and expense of building and managing heavy on-prem hardware and software solutions if they are to successfully deliver against their digital transformation initiatives,” explained Poojan Kumar, a co-founder of Clumio in a statement. “Unlike legacy backup vendors, Clumio SaaS is born in the cloud and all-in on AWS. We have leveraged the most secure and innovative cloud services available, now and in the future, within our service to ensure that we can meet customer requirements for backup, regardless of where the data is.”Do you know of any other companies winning major investment? Let us know the details. Add your comments below.