Virginia, the USA-based provider of a cloud-native recovery assurance platform, Elastio, raised USD 18 million in Series A financing. The round took place on June 15, 2023. Venture Guides, new investors such as Capri Ventures, and Alumni Ventures led the financing for the company. Meanwhile, existing investors Bain Capital Ventures and Uncorrelated Ventures joined in the funding.
Purpose of financing for Elastio
With the latest funding, the company seeks to fuel its aggressive customer growth plans, including ramping up the number of AWS services it protects.
It also has plans to introduce new data integrity features. Meanwhile, the company looks to enhance customer workflows with generative AI.
What the company’s official has to add
Najaf Husain, CEO of Elastio, said, “This significant investment validates our mission to revolutionize cyber recovery in the cloud and protect our customers from the massive implications of not being able to recover their data.”
What the CARET official has to add
TJ Schoessow, SVP of Technology & Business Systems at CARET, said, “The level of confidence we have in knowing we can recover by deploying Elastio made it a no-brainer decision. There is no other AWS native product providing the level of protection that Elastio is. It took less than 15 minutes to deploy and another hour or two to configure. We’re seeing savings due to the global deduplication and compression capabilities, but more importantly, we’re all sleeping better at night.”
What the investors have to add
Ben Nye, Managing Partner at Venture Guides, further said, “There is a fundamental shift in the market ensuring data integrity, cyber protection, and continuous recoverability for customers’ cloud operations. Elastio has built a game-changing cloud native complement for AWS customers recognizing that backing up data and deploying perimeter security tools is no longer enough to ensure uninterrupted business operations.”
About the company
In 2020, Founders Adam Nelson and Najaf Husain launched the company. Elastio’s recovery assurance platform protects data from threats evading perimeter defences and mitigates downtime, data loss, and reputational harm for businesses. Elastio continuously monitors mission-critical data to detect compromises that impact recoverability. Elastio deploys in fifteen minutes, provides best-in-class application protection and recovery, and delivers immediate time-to-value.
Elastio’s cloud-native technology has already garnered significant attention within the industry, attracting a diverse range of customers, including Fortune 500 companies and innovative startups. The company’s unique approach to cloud data security is disrupting traditional cloud data security practices and enabling businesses to limit financial risk, data loss, downtime, and brand risk caused by compromised data. Elastio does this by identifying, remediating, and recovering data infected with ransomware, malware, or corruption.
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