Cloud Data Protection Firm OwnBackup Raises $23 Million
Fort Lee, New Jersey-based cloud data protection company OwnBackup on Thursday announced that it raised $23.25 million in a Series C funding round.
The latest funding, which brings the total raised by the firm to nearly $50 million, was led by Insight Venture Partners and Vertex Ventures, with participation from existing investors Innovation Endeavors, Oryzn Capital and Salesforce Ventures.
OwnBackup says it will use the investment to build on its momentum in the Salesforce ecosystem, expand its product offering, double its engineering and European teams, and expand its partner network.
The company provides secure and automated daily backups for Saas and PaaS data, along with advanced comparison and restoration tools designed for disaster recovery. OwnBackup solutions cover data loss and data corruption incidents caused by malicious intent, human error, rogue applications, and integration errors. The firm says its services are used by over 1,000 businesses worldwide.
Along with the latest funding, OwnBackup announced on Thursday the general availability of OwnBackup Archiver, an archiving tool designed to address regulatory compliance needs.
The company also announced the expansion of its international leadership team. Gareth Morris has been appointed VP of Sales for EMEA, and Nikitas Koutoupes of Insight Venture Partners, Harpinder Singh of Innovation Endeavors, and Bob DeSantis of Conga have joined its board of directors.