Druva has scored $51 million in new private financing to diversify its cloud backup platform and accelerate global marketing and sales.
The vendor said part of the proceeds will be used to introduce new features in Druva software., including machine learning in 2017 for analyzing multiple data sets in the public cloud.
Prying capital from investors is challenging in the current climate, making Druva’s $51 million a considerable haul. The new money brings its total private capital raised to $118 million since Druva launched in 2008.
CEO Jaspreet Singh attributed the new investment to Druva’s continuing focus on the cloud to eliminate separate hardware and software for different use cases.
“The timing to raise money isn’t great right now, but we have a strong story to tell. We have a strong tier of public cloud behind us for collaboration, disaster recovery and business intelligence. Part of DR is backup and recovery and part of it is information management. We do both,” Singh said.
“People are looking at cloud storage as a means to retain data longer. Druva software is a born-in-the-cloud, cloud-native technology that doesn’t require you to buy any dedicated hardware or software, which is pretty attractive if you are a growing enterprise.”
Singh said machine learning will be added to Druva software in January to allow customers to extract greater value from idle cloud backups.
Druva sells two branded cloud backup products. Druva’s software for backing up enterprise endpoints is called inSync, which converges backup and data governance across physical and public cloud storage.
Druva Phoenix is a software agent to back up and restore data sets in the cloud for distributed physical and virtual servers. Phoenix applies global deduplication at the source level and points archived server backups at a cloud target.
Druva in May added disaster recovery as a service (DRaaS) to Phoenix to continuously back up VMware image data to Amazon Web Services.
Druva’s software-based analytics works off a golden backup copy in the cloud. Users can search the single-instance storage and run multiple workflows off the same data.
Existing Druva investor Sequoia India headed a consortium that included new investors Singapore Economic Development Board, Blue Cloud Ventures and Hercules Capital. Other existing vendors to participate included Nexus Venture Partners, NTT Finance and Tenaya Capital.