Druva, Pune-based backup software startup, gets $25M in Series D Funding
Techcrunch reports that Druva, the Pune-based backup software startup, has just received $25MM In Series D Funding from Sequoia, along with Nexus Venture Partners and Tenaya capital, bringing their total funding to $92MM.
Usually, online backup providers get compared with Dropbox and Box.com and other, famous consumer oriented backup providers, but in keeping with Pune’s tradition of Enterprise Software products, Druva is differentiating itself by focusing on the B2B market:
First of all, they have concentrated strictly on the enterprise market, foregoing the SMB and consumer markets that bring with them the lure of big user numbers, but lower revenue.
Secondly, rather than being strictly a backup tool or sync and share, they have chosen a different route, what he says is more intelligent than simply offering “a data graveyard.” Instead, they look at data protection and governance on mobile devices, working with eDiscovery vendors like Recommind and AccessData to help companies entangled in litigation isolate and remove content involved in the lawsuit from the affected mobile devices with minimum possible disruption to the owner.
And thirdly they can provide mobile device recovery if a device is lost to get a user back up and running quickly, and they can help IT assess what if any essential data might have been compromised..
and, as a result, they’re playing in a slightly different market than traditional cloud storage/backup providers:
puts them more in competition with traditional backup/governance/eDiscovery vendors like EMC, Symantec and HP than cloud storage vendors like Dropbox and Box. In fact, he says his sales typically involve both legal and IT, so it’s a bit of a different play than pure cloud storage would suggest.
The approach has gotten the attention of customers like NASA, Pfizer, Dell and Hitachi among others, and they have gained 900 customers since their last funding round, growing from 2100 to 3000 enterprise customers in the last 10 months.
Read the full article.
Or check out all articles on PuneTech tagged ‘backup’ – you’ll get a history of Druva over the years.