Druva today said it has raised another $80 million in funding, bringing its total investments into the range of $200 million for the fast-growing data management software vendors.
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The Sunnyvale, Calif.-based company claims to have more than 4,000 worldwide customers that include NASA, Pifzer, NBC Universal, Marriot hotels, Stanford University and Lockheed Martin. The latest funding round was led by Riverwood Capital but Sequoia Capital India, Nexus Venture Partners and Tenaya Capital also participated.
Dave Packer, Druva’s vice president of product and alliance marketing, said the money will be used to further expand its sales, marketing, research and development as it moves into the growing cloud data management market. Druva scored $51 million in new private financing back in October 2016, and used that to diversify its cloud backup platform and accelerate global marketing and sales.
“A lot of that has not been spent,” Packer said of the previous funding. “A large portion of the (newest) investment is going to ramp up engineering. On an engineering standpoint, (we want) to supply a single control plane for end-to-end backup, recovery and resilience.”
Druva sells two branded cloud backup products that will serve as the foundation for its data management software portfolio. The enterprise-level Druva inSync product is for endpoints and it backs up data across physical and public cloud storage. The Druva Phoenix is a software agent used to back up and restore data sets in the cloud for distributed physical and virtual servers. Pheonix applies global deduplication at the source level and points archived server backups at a cloud target.
Last February, Druva upgraded inSync with tools to detect ransomware attacks and help recover clean data. The endpoint software detects strange behavior patterns. The company recently announced its Druva Cloud Platform that provides a unified control pane for data management across endpoints, servers and cloud data. It works as a service model.
“This will allow for a more on-demand model,” Packer said of the Cloud Platform. “Instead of providing two different products, they can be put under a single control plane. A consolidation of services also provides a greater level of capabilities. Users can have a single point of access to all the data.”
Parker said in the last six years companies have seen even more silos and disparate locations data stores that have gotten even more complicated with cloud adoption, driving up the need for data management software.
“What happened with organizations over time is you have all these disparate silos of data which are not connected,” he said. “Your organization is growing but at the expense of a centralized data plan. They have not been able to reconcile that. In fact, the data center is no longer the center of their data. So we need centralized policy management.”
In the past two years, Druva has set up subsidiaries in Japan and Germany and opened offices in the United Kingdom, Australia and Singapore. The data protection vendor set up Microsoft Azure and Amazon Web Services (AWS) cloud data centers in Canada, the United Kingdom and Hong Kong.
The company has positioned its data management software to go up against traditional backup vendors CommVault and Veritas Technologies, which also are transitioning into broad-based data management players. It’s also competing with startup Rubrik, which has raised a total of $292 million in funding since 2015 for cloud data management.
Druva executives have stated their goal to do an Initial Public Offering (IPO) by the end of this year, assuming they hit their revenue targets. Druva in 2015 claimed its revenues grew more than 100% year-over-year for five straight years.