California, USA-based leader in data backup and recovery for public cloud, Clumio raised USD 75 million in a Series D funding round. The round took place on February 21, 2023. Sutter Hill Ventures led the financing for the company. Meanwhile, existing investors Index Ventures and Altimeter Capital and new investor NewView Capital also joined in the funding.
Purpose of financing for Clumio
With the latest investment, Clumio seeks to accelerate the company’s innovation. It also has plans to fuel its go-to-market in radically simplifying backup and recovery for public cloud customers. So far, the total funding raised by the company amounts to USD 261 million.
What the investors have to comment
Mike Speiser of Sutter Hill Ventures said, “Few markets are as big as backup and recovery. While many legacy vendors offer products for on-premise data protection, backup and recovery at public cloud scale is a significant technical challenge that Clumio is uniquely positioned to solve.”
What the company’s official has to add
Poojan Kumar, co-founder and CEO of Clumio, said, “Customers have reached a point of maturity in the public cloud where backup and recovery of their critical data is now a top priority. It is foundational to their operational resilience, ransomware recovery, and regulatory compliance needs. Because traditional backup and recovery vendors are not architected for public cloud applications, Clumio is seeing a deluge of demand across cloud databases, data lakes, and high-performance storage. We will use our Series D funding to accelerate our momentum in these areas across the major cloud providers.”
Rick Underwood, Chief Revenue Officer at Clumio, further said, “Clumio is doing to enterprise backup and recovery what Snowflake did to enterprise data warehousing. With the explosion of cloud data, customers need a backup solution natively built into the cloud that can leverage and scale with their other cloud services. I witnessed this shift from bolt-on, retrofitted deployments towards hands-off, consumption-based solutions first-hand during my tenure at Snowflake when the company grew its revenue 30X in five years. I am excited to lead Clumio on a similar revenue trajectory.”
What other industry experts have to comment
Alex Grach, Head of Engineering, Core Engineering Services at Atlassian, further said, “Clumio helped us automate the resilience of Jira Cloud. Clumio was the only solution that met our needs for high-fidelity backup and restoration at scale, both in terms of data volume and change rate. It has also been simple to implement and easy to use.”
About the company
Poojan Kumar is the CEO of the company. Businesses can automate crucial data backup, recovery, and compliance in AWS with the aid of Clumio. With its safe, air-gapped SaaS backup solution, businesses can meet strict regulatory requirements, safeguard against ransomware, quickly backup and recover data, and get insight into how best to use cloud storage resources.
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