Druva is a cloud data protection and information management provider for both end user and server data
Bengaluru – Sept 29, 2016. Rednewswire/-
Data protection firm Druva has raised $51M in funding round led by its existing investor Sequoia Capital India and new investors EDBI, the investment arm of the Singapore Economic Development Board (EDB), Blue Cloud Ventures and Hercules Capital.
Existing investors including Japan-based NTT Finance, Nexus Venture Partners and Tenaya Capital also participated in the round.
The funds raised will be used to improve capabilities, innovation and adoption of the product, besides marketing and global expansion.
Druva was founded in 2008 and has now raised a total of $117 mn in venture funding. In 2014, the company was valued at $220 million.
Milind Borate, cofounder of Druva, said..
“Since our last funding two years ago, we have expanded the scope of our product and scaled across geographies. We are now marching towards an IPO.”
Jaspreet Singh, cofounder of Druva, said..
“As we continue to grow in the enterprise business, we have a two-point plan: to continue to innovate as much as possible in terms of our offering and to expand our global footprint.”
Druva operates from Pune and Sunnyvale in the US and has bagged over 4,000 enterprise customers across the US, Europe, Middle East and the Asia-Pacific region.
Druva collects data from computers, tablets and smartphones, and unifies back-up, disaster recovery, archival and governance capabilities onto a single data set.
Swee-Yeok Chu, chief executive and president at EDBI, said…
“The risk of business data loss increases as workforce mobility becomes ubiquitous. EDBI looks forward to supporting Druva as it expands into new markets in the region through Singapore.”