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Indian founded Druva raises $5 Million venture fund
By siliconindia
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Bangalore: The Pune-based data protection and disaster recovery products' firm Druva Software has raised $5 million (
22.5 crore) in Series A round of venture funding from Sequoia Capital and Indian Angel Network (IAN).
Founded in 2007 by Ramani Kothandaraman, Jaspreet Singh and Milind Borate, Druva Software is a provider of continuous data protection and disaster recovery solutions. Druva is a profitable software product company that registered over 300 percent growth in the financial year that just ended and will use the capital for fueling its expansion in global markets. As claimed by the company, it is known for its two award winning products Druva inSync, for laptops in an enterprise environment and Druva Phoenix, for remote servers has already acquired customers in more than 20 countries in the last two years.
"Our approach towards data de-duplication, both for corporate offices and remote users, allows better storage and provides significant savings in terms of time and bandwidth requirements. Our client base is increasing rapidly and this funding from Sequoia Capital and Indian Angel Network comes at an opportune time as we look at expanding our operations into other geographies," said Jaspreet Singh, CEO and Co-founder, Druva.
Druva has existing sales offices in the U.S. and Europe which will be expanded to match increasing demand from clients in those markets. Druva's R&D team has extensive experience in data storage products, and has incorporated next generation data de-duplication technologies to provide optimized data protection across the enterprise.
Shailendra Singh, Managing Director, Sequoia Capital said, "We are excited to back Druva, whose clients are selecting them over established vendors in countries they have never set foot in or sometimes without as much as a sales call. Their highly differentiated products and internet-based sales model, makes this a disruptive business opportunity. We are committing Sequoia's global network of resources to help Druva scale quickly. We hope that Druva's success will inspire more entrepreneurs to build world-class software products in India."
Also, Rehan yar Khan of IAN adds, "Druva signals the fact that world-class software product companies are starting to emerge from India. Our network will continue to closely support Druva to help them grow into a world leader." Rehan yar Khan (IAN) who was on the Board of Directors of Druva, has now been joined by Shailendra Singh (Sequoia Capital)
22.5 crore) in Series A round of venture funding from Sequoia Capital and Indian Angel Network (IAN).
Founded in 2007 by Ramani Kothandaraman, Jaspreet Singh and Milind Borate, Druva Software is a provider of continuous data protection and disaster recovery solutions. Druva is a profitable software product company that registered over 300 percent growth in the financial year that just ended and will use the capital for fueling its expansion in global markets. As claimed by the company, it is known for its two award winning products Druva inSync, for laptops in an enterprise environment and Druva Phoenix, for remote servers has already acquired customers in more than 20 countries in the last two years.
"Our approach towards data de-duplication, both for corporate offices and remote users, allows better storage and provides significant savings in terms of time and bandwidth requirements. Our client base is increasing rapidly and this funding from Sequoia Capital and Indian Angel Network comes at an opportune time as we look at expanding our operations into other geographies," said Jaspreet Singh, CEO and Co-founder, Druva.
Druva has existing sales offices in the U.S. and Europe which will be expanded to match increasing demand from clients in those markets. Druva's R&D team has extensive experience in data storage products, and has incorporated next generation data de-duplication technologies to provide optimized data protection across the enterprise.
Shailendra Singh, Managing Director, Sequoia Capital said, "We are excited to back Druva, whose clients are selecting them over established vendors in countries they have never set foot in or sometimes without as much as a sales call. Their highly differentiated products and internet-based sales model, makes this a disruptive business opportunity. We are committing Sequoia's global network of resources to help Druva scale quickly. We hope that Druva's success will inspire more entrepreneurs to build world-class software products in India."
Also, Rehan yar Khan of IAN adds, "Druva signals the fact that world-class software product companies are starting to emerge from India. Our network will continue to closely support Druva to help them grow into a world leader." Rehan yar Khan (IAN) who was on the Board of Directors of Druva, has now been joined by Shailendra Singh (Sequoia Capital)