Data protection firm Druva secures $25 mn funding

Data protection software provider Druva today said it has raised $25 million (Rs 154 crore) from Sequoia Capital, Nexus Venture Partners and Tenaya Capital.

Druva has secured $25 million in series C funding for its inSync platform, an integrated suite of endpoint data protection and governance solutions that currently safeguards corporate information assets on desktops, laptops, tablets and smartphones in 76 countries, the company said in a release.

This round of funding included significant participation from Sequoia Capital and Nexus Venture Partners as well as a substantial first-time investment from Tenaya Capital.

The new funding will underwrite continued R&D, expanded global sales and marketing, and expansion of the company's cloud infrastructure to support new deployments, the statement said.

"With the proliferation of mobile devices and the loss of security and accountability in today's 'post-PC' world, every organisation today is facing the need to change the way they protect and govern data," Druva founder and CEO Jaspreet Singh said.

"The size of this latest funding round is a direct result of our unified strategy for solving these problems," Singh added.

Druva's customers ranges from UC Berkeley to Sephora and NASA, and our roadmap for expanding the inSync platform to become an essential component of the IT infrastructure.

"Druva created inSync to address a very real problem in a massive market. In the process, the company has redefined data protection and governance for the mobile era," Tenaya Capital Managing Director Tom Banahan said.

Persuant to the development, Banahan has joined the Druva board of directors. He has been a member of the Tenaya investment team since 1999 and was named to Forbes' Midas List of Top Tech Investors in both 2011 and 2012.

"We were early investors in Druva's business, and they have proven to be the thought leaders as well as the technology trailblazers in this area," Nexus Venture Partners Managing Director Jishnu Bhattacharjee said.