Home Startups Cloud data management startup Druva raises $130 million, Joins the Unicorn Club

Cloud data management startup Druva raises $130 million, Joins the Unicorn Club

Druva, a cloud data management and protection services provider, recently raised $130 million in a funding round led by Viking Global Investors along with the participation from Riverwood Capital, Tenaya Capital, Nexus Venture Partners, and Atreides Management. The California-based company is now passed the $1 billion valuation and acquired the unicorn status.

Druva stated the new investment will be used for business expansion globally and accelerate the innovation of its data protection technology built for the cloud. Founded in 2008, Druva delivers Data Protection and Management services to companies. Druva’s Cloud Platform, which is built on Amazon Web Services (AWS), offers covering backup, recovery, archives, and analytics services.

“The line between data and business is blurring. The data management market is forecasted to be worth $55 billion next year, yet the landscape is dominated by solutions that are 20 years old. Druva is disrupting the way enterprises protect and leverage their data with a modern, cloud-native SaaS platform,” said Jaspreet Singh, Founder and CEO, Druva. “Today’s funding will help Druva to power data protection for the cloud era and accelerate our momentum to better serve the needs of enterprise customers.”

“Druva’s product capabilities and market adoption have continued to surprise us ever since. We remain excited about Druva’s cloud-native architecture for enterprise data protection at scale and believe it will be a category-defining company for data protection in the cloud era,” Jaspreet Singh added.

“Druva is a leading Advanced Technology Partner in the AWS Partner Network,” said Mike Clayville, Vice President Worldwide Commercial Sales, and Business Development, Amazon Web Services. “Druva’s solutions powered by AWS are changing the way data is managed and protected at thousands of companies globally. We’d like to congratulate Druva on its latest fundraise and look forward to innovating with Druva to create new solutions that benefit our customers.”