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California-based Druva Raises $80 Million Funding from Riverwood Capital, Others

druva raises funding

22 August 2017, India:

Druva, one of the top platforms in cloud data protection and management, today announced $80 million of growth equity funding, bringing the total raised to approximately $200 million.

The latest funding investment was led by Riverwood Capital, with strong participation from Sequoia Capital India, Nexus Venture Partners, Tenaya Capital, and most other existing venture investors.

“Cloud Data Protection and Management solutions are massively disrupting the secondary storage industry,” said Jeff Parks, co-founder and general partner at Riverwood Capital. “Druva delivers an as-a-service protection and management solution for all enterprise data encompassing infrastructure, endpoints, and cloud applications. We are impressed by Druva’s ability to help organizations redefine their data protection and management strategy in a cloud first world leveraging the performance, scale, ease of use and TCO benefits of the public cloud and SaaS,” he further added.

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“The secondary storage space is ripe for disruption based on the convergence of workloads and the adoption of cloud,” co-founder and CEO Jaspreet Singh told TechCrunch.

“Druva’s tremendous growth can be attributed to the rise of advanced and persistent data threats such as ransomware, changing global data regulations, and the explosion of data in motion driven by enterprise digital transformation initiatives,” said Jishnu Bhattacharjee, Managing director at Nexus Venture Partners. “We see Druva’s innovative cloud-first approach as the only way forward. We are thrilled to have continued backing team Druva over the years.”

Druva is the one of the top platforms in Cloud Data Protection and Management, delivering the industry’s first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence–dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it.

Also read- Bengaluru-based Capital Float Raises Rs. 293 Crores Funding from Ribbit Capital, Others

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