Cloud Data Protection Firm Druva Raises $130 Million
Cloud data protection and management provider Druva on Thursday announced $130 million in new funding, which brings the total raised by the company to date to $328 million.
The Sunnyvale, California-based cybersecurity firm has been cashing in on the rapid growth of enterprise cloud adoption, proliferation in data, an evolving regulatory landscape, and an expanded data protection industry.
Druva offers an Amazon Web Services (AWS)-based platform as a service, aiming to help customers cut down costs by eliminating unnecessary hardware, capacity planning, and software management.
The company’s SaaS solution delivers all-in-one backup, disaster recovery, archival and analytics capabilities that can be deployed with a single click. It also aims to provide customers with 360-degree visibility and control across all environments.
The company, which provides services to more than 4,000 companies, plans to use the new funds to support global growth drive product innovation.
The new funding round was led by Viking Global Investors and included participation from new investors, such as certain funds advised by Neuberger Berman and Atreides Management, and existing investors, including Riverwood Capital, Tenaya Capital, and Nexus Venture Partners.
“Druva is disrupting the way enterprises protect and leverage their data with a modern, cloud-native SaaS platform. 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,” Jaspreet Singh, Founder and CEO, Druva, said.