Druva, a provider of software for cloud data protection and management, has added $80 million in equity funding, bringing the total raised to approximately $200 million.
The latest funding investment was led by Riverwood Capital, with participation from Sequoia Capital India, Nexus Venture Partners, Tenaya Capital, as well as additional existing venture investors. Druva says it will use this late-stage investment accelerate research and development, expand go-to-market efforts worldwide, and improve how enterprises protect, manage, and use their data.
Cloud data protection and management solutions are disrupting the secondary storage industry, said Jeff Parks, co-founder and general partner at Riverwood Capital. Druva, he noted, is helping 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.
Earlier this month, Druva announced the Druva Cloud Platform Tech Preview, which delivers a “single-pane-of-glass view” for protection and management of endpoints, servers, and cloud applications. The platform converges the Druva Phoenix and Druva inSync cloud solutions, and offers a unified view into services and data, with global search and centralized visibility and control to help reduce costs and complexity for managing enterprise data.
Druva’s patented technology includes time-indexed metadata, global scale-out deduplication, instant access, auto-tiering, and advanced search and analytics to enable scale and simplicity for customers that want to ensure the protection of their businesses-critical data, said Milind Borate, co-founder and chief technology officer at Druva. With the proliferation of ransomware and the need for governance and compliance created by regulations like GDPR, Druva’s innovations are well positioned to address evolving market requirements, he added.
To learn more about Druva Cloud Platform Tech Preview, visit www.druva.com/products/cloudplatform.
For more information about the company, go to www.druva.com