Druva raises $51 mn in fresh funding led by Sequoia

Company will utilise funds to expand its operations globally, and enhance its product capabilities

Cloud data protection and management firm Druva has raised $51 million in fresh funding led by existing investor Sequoia Capital India and new investors such as EDBI, Blue Cloud Ventures and Hercules Capital.

Druva will utilise the new capital to expand its operations globally and to enhance its product capabilities for management and security of the cloud. The deal brings the total capital raised by the company to $118 million across five rounds of institutional funding.

“We are at an inflection point and Druva’s ability to evolve and innovate is proving to be nothing short of a game changer. This new capital enables us to continue to serve customers through notable innovations, partnerships and additional global expansion,” said Jaspreet Singh, founder and chief executive of Druva.

With enterprises increasingly turning to the public cloud for their business needs, Druva has tapped the demand for managing and ensuring security of data.

Unlike in the past where low volumes of data could be segregated easily, the increasing amount of data enterprises now collect is changing the game.

As utilisation of data becomes more important for running analytics and big data solutions, it is becoming increasingly difficult for companies to push them into secure silos on the cloud. Druva’s solutions enable smart analytics and search, giving customers greater freedom while still ensuring security.

“Druva is at the cutting edge of leveraging cloud to solve data protection challenges for today's enterprises. The team's ability to deliver multiple best-in-class solutions on common scalable architecture makes us very excited about what the future holds,” said Shailendra Singh, Managing Director at Sequoia Capital India.

The eight-year-old firm has been rapidly expanding its operations, with over 400 employees today and subsidiaries in Japan and Germany.

Druva has added over 1,000 customers in the past two years, including NASA, Hulu, Marriott, NBC Universal and Stanford University.