Clumio, a provider of data backup and recovery for public cloud, announced it has secured $75M in a Series D funding round, enabling the company to accelerate its innovation and go-to-market strategy of radically simplifying backup and recovery for public cloud customers.
The funding round was led by Sutter Hill Ventures, along with participation from existing investors Index Ventures and Altimeter Capital, and new investor NewView Capital. Clumio has now raised a total of $261 million.
“Customers have reached a point of maturity in the public cloud where backup and recovery of their critical data is now a top priority,” said Poojan Kumar, co-founder and CEO of Clumio. “It is foundational to their operational resilience, ransomware recovery, and regulatory compliance needs. Because traditional backup and recovery vendors are not architected for public cloud applications, Clumio is seeing a deluge of demand across cloud databases, data lakes, and high-performance storage. We will use our Series D funding to accelerate our momentum in these areas, across the major cloud providers.”
Clumio also announced a 4X growth in annual recurring revenue (ARR) in 2023, fueled by accelerated enterprise customer acquisition—software powerhouse Atlassian, legal and risk management leader LexisNexis, and recently public fast-casual restaurant chain Cava to name a few.
“Clumio is doing to enterprise backup and recovery what Snowflake did to enterprise data warehousing,” said Rick Underwood, chief revenue officer at Clumio. “With the explosion of cloud data, customers need a backup solution natively built in the cloud that can leverage and scale with their other cloud services. I witnessed this shift from bolt-on, retrofitted deployments towards hands-off, consumption-based solutions first-hand during my tenure at Snowflake, when the company grew its revenue 30X in five years. I am excited to lead Clumio on a similar revenue trajectory.”
Clumio—a serverless backup solution—provides an autonomous, default-air gapped, and immutable platform that proactively monitors compliance and reduces cost, according to the company.
For more information about this news, visit www.clumio.com.