Druva Scores $80M Funding for Cloud Data Protection
Druva, which specializes in cloud data protection and management, rang up $80 million in growth equity funding on Tuesday, bringing its total warchest to about $200 million.
Druva will use the latest funding round for research and development and worldwide expansion. The latest funding was led by Riverwood Capital, with strong participation from Sequoia Capital India, Nexus Venture Partners, Tenaya Capital and most other previous venture investors, according to the company.
Druva launched a service this month to allow enterprises to back up and protect data in multiple public, hybrid and private clouds. Druva Cloud Platform -- which the company touts as "data management-as-a-service," provides backup to Amazon S3 or Microsoft Azure, of data located on laptops, desktops, mobile devices and other endpoints, as well as on-premises servers and cloud applications such as Microsoft Office 365. Druva Cloud Platform protects against ransomware and other threats by providing a virtual firewall to separate production data from archives, and blocking attackers from crawling data looking for vulnerabilities. (See Druva Debuts Protection for Cloud Data.)
Druva estimates the size of the data protection industry will grow to $28 billion in 2022 for cloud-based and on-premises servers.
Druva grew 300% annually in server data protection, and serves more than 4,000 enterprise customers worldwide, including Continental, Emerson, Flex, Fujitsu and Lockheed Martin; the company protects more than 40 petabytes of data.
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— Mitch Wagner Editor, Enterprise Cloud News
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