Post raising $51M, Druva aims to accelerate product innovation

The provider of data protector solutions, Druva, has raised $51 million in Series E round of funding led by existing investor Sequoia India and joined by new investors – Singapore-based EDBI, as well as Blue Cloud Ventures and Hercules Capital. This round also includes contributions from other existing investors including NTT Finance, Nexus Venture Partners and Tenaya Capital. The new funding brings Druva’s total capital raised to $118 million, and claims to continue to support its aggressive growth strategy. The capital will be used to accelerate both product innovation and adoption, all while enhancing product capabilities across Druva’s secure cloud platform. In addition, the capital will be used to further drive sales and marketing, and continue the company’s global expansion. Jaspreet Singh, Druva founder and CEO stated, “Our customers are entering a new era of public cloud adoption and Druva is at the forefront. The fragmentation of data, combined with increasing regulatory needs, is making enterprises everywhere rethink how information is best managed. In today’s age, simple is genius, and Druva’s 82 NPS speaks to how our cloud-first approach is simple yet disruptive.
“We are at an inflection point and Druva’s ability to evolve and innovate is proving to be nothing short of a game changer. This new capital enables us to continue to serve customers through notable innovations, partnerships and additional global expansion,” added Singh.
According to Druva its cloud-first architecture offers a unified approach to data protection. Unlike the traditional approach of managing data silos like backup, DR and eDiscovery, etc., with Druva, information is backed up once, and the platform enables advanced management and discovery analytics capabilities. Before the funding, Druva recetly partnered with Kansas-based electric security company, Protection 1, to bolster its ability to address data protection needs for small and medium-sized businesses. Druva in the month of August partnered with Exterro, a software provider to simplify the cost of eDiscory processes. Moreover earlier this year it also introduced new Disaster Recovery (DR) functionality to extend its converged cloud-based data protection solution for enterprise infrastructure, Druva Phoenix. For Druva, the new funding round comes as it experiences strong growth and demand for its cloud-based data protection and information management solution. The company raised $25 million in series D round in 2014, $25 million in series C in 2013, $12 million in series B in 2011 and $5 million in series A in 2010 respectively.

Abhinav Mohapatra

An author who has a keen interest for the ‘off-beat’ <!--more-->An author who has a keen interest for the ‘off-beat’, he has covered and explored multiple facets of the marketing, advertising

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