OwnBackup, a New Jersey headquartered startup offering cloud data protection and recovery solutions to its clients, has secured US$ 240M in a Series E funding round co-led by Alkeon Capital and B Capital Group on 10 August 2021.
Investors: The latest round featured Alkeon Capital and B Capital Group as the lead investor with participation from existing investors Sapphire Ventures, Vertex Ventures, Insight Partners, Salesforce Ventures. The round also involved secondary investment from Tiger Global Management and BlackRock Private Equity Partners. The startup has raised nearly US $500 million in total, leading to a US $2 billion valuation rise in six months.
Purpose of the funding: The startup intends to utilize the proceeds from the investment round to support the organization’s ultimate goal of data protection and stretch its platform to Dynamics 365 by the end of 2021.
About OwnBackup
Established in 2012 by Ariel Berkman, Daniel Gershuni and Eran Cohen, OwnBackup shields vital cloud data of 4,000 enterprises globally. In addition, it deals with data recovery and disruption resulting from human failure, malignant motive, integration failure, and rogue programs. Partnering with some giant SaaS corporations such as Microsoft and Salesforce, the firm views other cloud providers as future associates. It seeks to uphold its promise of catering to the users of these organizations by safeguarding their crucial data. The firm is planning to extend its services to Dynamics 365, which would allow the company’s clients to fulfil compound regulatory conditions and eliminate data corruption.
What the CEO has to say: “Our dedication to safeguarding our users’ data grows dramatically over time. Although the cloud is of paramount importance to run an enterprise, the popularity of SaaS has led to the accumulation of massive data; our collaboration with some large SaaS corporations allows businesses to survive in the new digital age. Data is at the foundation of every business tale. Hence, we envisage bolstering our clients to possess and safeguard their data.”- Sam Gutmann, CEO of OwnBackup.
What the Investors have to say: “Data has gained much importance in the last one and a half years as remote working has become popular. Executives desire data solutions to be available to their employees as and when they require them. Coupled with this, customers increasingly demand flawless relay and control of their data on an interface autonomous of the SaaS supplier while ensuring supreme-level security for their ultimate users. Hence, it is exhilarating to partner with and fund OwnBackup’s cause to offer high-end customer experience and satisfaction.”- Abhi Arun, Managing Partner, Alkeon Capital.
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