Druva Earns $147 Million Investment to Fuel Innovation
Druva Inc. has announced a $147 million investment as the vendor quickly scales in response to increased demand for its platform. The fundraising was led by Caisse de dépôt et placement du Québec (CDPQ), a global investment group, with a significant investment from Neuberger Berman, both of which manage over $300 billion in net assets. The round, which raises Druva’s valuation above $2 billion, also included participation from existing investors Viking Global Investors and Atreides Management. As businesses move workloads to cloud environments, adopt SaaS solutions, and combat cyber threats, this new investment will fuel the continued expansion of Druva Cloud Platform to meet today’s needs, and extend the provider’s position in the data protection industry.
Druva delivers data protection and management for the cloud era. Druva Cloud Platform is built on AWS and offered as-a-Service. Druva Phoenix simplifies data protection, improves visibility, and significantly reduces the risk, cost, and effort of managing complex data. The solution operates seamlessly and can be managed from one location, giving IT administrators full visibility and control over server backups and data composition. Phoenix also offers long-term retention and archiving, enterprise-level RTO and RPO, and enterprise-grade security. Druva is used worldwide by over 4,000 companies at the forefront of embracing the cloud. Additionally, Druva recently acquired SFApex for an undisclosed amount.
With the ability to provide faster time to value and help businesses manage, protect, and govern critical data during their digital transformation efforts, Druva Cloud Platform’s customer base has grown significantly during 202, while the adoption of multiple Druva Cloud Platform products has grown by 50 percent in the same time period.
In a press statement, Jaspreet Singh, founder and CEO of Druva, said, “the unprecedented events of 202 have ushered in a generational cloud transformation for businesses, and data’s increasing value is at the very heart of it. Druva pioneered the cloud data protection category almost a decade ago and has led the way in defining the architecture, business model, and user experience our customers now expect. This investment and our continued, rapid growth is further validation of our vision for a simple, open, and unified data protection and management platform.”
Alexandre Synett, Executive Vice President and Chief Technology Officer at CDPQ, added, “rising volumes of stored data, rapid adoption of cloud and deployment of SaaS applications, regulatory frameworks and cybersecurity concerns have accelerated the demand for data protection and management solutions for businesses. The working-from-home dynamic experienced globally has further accentuated the need for cloud-based data protection solutions and we believe Druva is in an excellent position to seize opportunities and enhance its clients’ agility and data compliance.”
To learn more about Druva, click here.
Tess Hanna
Editor at Solutions Review
Tess Hanna is an editor and writer at Solutions Review covering Backup and Disaster Recovery, Data Storage, Business Process Management, and Talent Management. Recognized by Onalytica in the 2021 “Who’s Who in Data Management.” You can contact her at thanna@solutionsreview.com
