Druva, a California headquartered cloud data protection firm has become the latest entrant to join the unicorn club at an estimation of over $1 Billion with the recent funding of $130 million led by Viking Global Investors.
Other new investors also took participation like Neuberger Berman and Atreides Management besides the existing investors- Tenaya Capital, Riverwood Capital, and Nexus Venture Partners.
Before this round, Druva raised total funding of $198 million from investors Sequoia Capital India, IAN, Nexus Venture Partners and a few others. The new funds to the company are used for investing in strategic acquisitions and innovation.
Jaspreet Singh, Co-Founder and CEO of Druva-
“The data management market is forecasted to be worth $55 billion next year, yet the landscape is dominated by solutions that are 20-year-old. Druva is disrupting the way enterprises protect and leverage their data with a modern, cloud-native SaaS platform. Today’s funding will help Druva to power data protection for the cloud era, and accelerate our momentum to serve the needs of enterprise customers better.”
Dhruva a cloud data protection and information management were established in 2008 by trio Jaspreet Singh, Milind Borate, and Ramani Kothandaraman. It is a SaaS startup that has a patented cloud architecture to produce an all-in-one backup, analytics, disaster recovery, and archival solutions. With a single click, these can be deployed by offering 360-degree viewability and control in all situations.
Its headquarter is in Sunnyvale, California along with additional offices, were located in Pune, the UK, Singapore, Japan, Germany, and Australia.
Recently, the company also in talks to acquire data management and cloud computing startup ‘CloudLanes’ for an undisclosed amount.
Druva is targeting, generating 25% of the revenue from Europe and Asia.
So far the Druva works with 4000 firms irrespective of the mid-market in regards to the size. The customers of the company range across various verticals that include the American Cancer Society, Build Group, and the Port of New Orleans.
“Druva is doing something unique and special and, as a result, has grown at a phenomenal rate over recent years, all while keeping the trust and loyalty of its enterprise customers around the globe”, said Harish Belur, MD Riverwood Capital.