OwnBackup, a backup and recovery vendor, is closing a $23.25 million Series C round of financing that will be used to meet escalating market demand for the company’s solutions.
This round is being co-led by Insight Venture Partners and Vertex Ventures. Existing investors Innovation Endeavors, Oryzn Capital and Salesforce Ventures also participated in the round.
The company also announced the aggressive expansion of its international leadership team and general availability of OwnBackup Archiver, which empowers businesses to efficiently meet internal and external compliance policies for SaaS data.
“As we set the bar for cloud data protection, our focus continues to be growing the team and leading the pack in cloud data protection innovation,” said Sam Gutmann, CEO of OwnBackup.
OwnBackup will use the investment to build on its momentum in the Salesforce ecosystem. With plans to deepen its partner network and double both its engineering and European teams, OwnBackup will increase its presence around the globe and expand its product offerings to support a wide range of cloud data needs.
In addition to the funding, OwnBackup announced the general availability of OwnBackup Archiver, addressing regulatory compliance needs while optimizing the performance of users’ SaaS platforms.
The robust archiving tool automatically archives data and attachments that are no longer needed in production – while maintaining their integrity, data access and security to comply with a wide range of regulations and policies.
OwnBackup helps more than 1,000 businesses worldwide protect critical cloud data—securing trillions of SaaS and PaaS records to prevent data corruption/data loss, ensure business continuity, minimize operational disruptions and meet compliance mandates.
For more information about this news, visit www.ownbackup.com.