Druva raises US$51M from Sequoia, EDBI and others to protect cloud data at enterprises
Druva enables enterprises to address their data protection needs without the substantial hardware costs and operational complexity
Druva, a cloud data protection and information management company, with operations in several geographies including Singapore and India, has announced a US$51 million fresh investment, led by Sequoia India.
Singapore’s EDBI, Blue Cloud Ventures and Hercules Capital, besides existing investors NTT Finance, Nexus Venture Partners and Tenaya Capital, also took part in the round.
The proceedings from this round will be used to accelerate both product innovation and adoption. A portion will also go into sales, marketing and global expansion.
Also Read: EDBI invests in LogRhythm to help enterprises detect and neutralise cyber threats
With this round, Druva’s total capital raised till date has reached US$118 million.
“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,” said Founder and CEO Jaspreet Singh. “This new capital enables us to continue to serve customers through notable innovations, partnerships and additional global expansion.”
Founded in 2008 in India, and subsequently reincorporated in Singapore in 2012, Druva enables middle-to-large enterprises to address their data protection needs without the substantial hardware costs and operational complexity associated with deploying legacy on-premise IT infrastructure. In addition, its cloud architecture allows advanced data governance capabilities such as e-discovery, legal hold, archival, compliance, and disaster recovery.
The company’s customers include LVMH, Marriott, Fujitsu, ServiceNow, IKEA, Leidos, NBC Universal and NASA.
Druva has several offices worldwide including Sunnyvale (California), London, Wuppertal (Germany) and Tokyo, apart from Pune (India) and Singapore. Currently, it is employing 400 people.
“The risk of business data loss increases as workforce mobility becomes ubiquitous. Druva’s superior solution to safeguard critical data through their unified cloud-native platform mitigates such risks whilst enhancing IT productivity and cost savings,” said CHU Swee Yeok, Chief Executive Officer and President at EDBI. “EDBI looks forward to supporting Druva as it expands into new markets in the region through Singapore.”
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