Cloud data protection and management startup Druva is among the latest startups to ride the wave of big data and enterprise cloud adoption.
This week, the company announced a $130 million investment led by Viking Global Investors, raising a total of $328 million to-date. Druva plans to use the funding to accelerate growth and global expansion, as well as spur product innovation.
“The line between data and business is blurring. 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,” said Jaspreet Singh, Founder and CEO, Druva. “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.”
New investors including certain funds advised by Neuberger Berman and Atreides Management, in addition to existing investors including Riverwood Capital, Tenaya Capital and Nexus Venture Partners also participated in this round.
“Druva’s unique approach to the large and growing data protection market is transformative to the industry and is validated by some of the world’s largest companies and the most demanding customers.”
“Riverwood is thrilled to be increasing its investment in Druva,” said Harish Belur, Managing Director, Riverwood Capital. “Since our original investment around two years ago, the company’s growth and success has surpassed our expectations. Druva’s unique approach to the large and growing data protection market is transformative to the industry and is validated by some of the world’s largest companies and the most demanding customers.”
Druva is a SaaS cloud computing solution built on Amazon Web Services (AWS) and its features include all-in-one backup, disaster recovery and single-click archival and analytics solutions. 10 percent of the Fortune 500 are among Druva’s enterprise customers, which total over 4,000 and include companies such as Flex, Hitachi, Live Nation, Marriott and Pfizer.
