Druva, Inc. announced a $130 million
investment led by Viking Global Investors, pushing total capital raised to $328
million. The round also included participation from new investors including
certain funds advised by Neuberger Berman and Atreides Management, as well as
existing investors including Riverwood Capital, Tenaya Capital, and Nexus
Venture Partners. The investment will be used to fuel growth and global
expansion, as well as drive new product innovations.
Druva's success has been fueled by the rapid growth of
enterprise cloud adoption, a massive proliferation in data, and an evolving
regulatory landscape. At the same time, the data protection industry has
continued to expand significantly, with a market size expected to reach $55
billion by 2020 according to IDC*. Built on Amazon Web Services (AWS), Druva is
a SaaS solution in a market dominated by legacy hardware vendors, enabling
customers to eliminate complexity and drive down costs by up to 50 percent.
Druva's patented technology delivers all-in-one backup, disaster recovery,
archival and analytics solutions that deploy in a single click and provide
360-degree visibility and control across all environments. To date, over 4,000
enterprise customers have placed their trust in Druva, including 10 percent of
the Fortune 500, such as Pfizer, Flex, Marriott, Live Nation, and Hitachi.
"Riverwood is thrilled to be increasing its investment in
Druva," said Harish Belur, Managing Director, Riverwood Capital. "Since our
original investment around two years ago, the company's growth and success has
surpassed our expectations. Druva's unique approach to the large and growing
data protection market is transformative to the industry and is validated by
some of the world's largest companies and the most demanding customers. We look
forward to Druva's next phase of growth and are excited to be a part of the
journey."
"The line between data and business is blurring. The data
management market is forecasted to be worth $55B next year, yet the landscape
is dominated by solutions that are 20 years old. Druva is disrupting the way
enterprises protect and leverage their data with a modern, cloud-native SaaS
platform," said Jaspreet Singh, founder and CEO, Druva. "Today's funding will
help Druva to power data protection for the cloud era, and accelerate our
momentum to better serve the needs of enterprise customers."
"Druva is a leading Advanced Technology Partner in the AWS
Partner Network," said Mike Clayville, Vice President Worldwide Commercial
Sales, and Business Development, Amazon Web Services, Inc. "Druva's solutions
powered by AWS are changing the way data is managed and protected at thousands
of companies globally. We'd like to congratulate Druva on its latest fundraise,
and look forward to innovating with Druva to create new solutions that benefit
our customers."
"The
challenges of data management continue to grow as enterprise data becomes more
distributed across hosted SaaS, branch offices, public clouds and endpoints; as
well as the traditional datacenter," said Steven Hill, Senior Analyst, 451
Research. "Hybrid IT is rapidly becoming the norm, and companies like Druva
that focus on reducing complexity, protecting data and managing information
regardless of a physical location can offer strategic advantages over those
that are not as evolved."
"As Druva's first investor, Sequoia India saw
great potential in Jaspreet and the transformative nature of the product the
Druva team was building," said Shailendra Singh, Managing Director, Sequoia
Capital (India) Singapore. "Druva's product capabilities and market adoption
have continued to surprise us ever since. We remain excited about Druva's
cloud-native architecture for enterprise data protection at scale and believe
it will be a category-defining company for data protection in the cloud era."