Druva Secures Rs.150 Crores in Series C Funding
Date: Tuesday , November 05, 2013
Sunnyvale based Druva, Inc, a provider of integrated data protection and governance solutions for enterprise laptops, PCs, smartphones and tablets has secured Rs.150 Crores from its existing investors Sequoia Capital and Nexus Venture Partners and additional funding coming in from new investor Tenaya Capital.
With office in Pune, Druva inSync addresses shifting enterprise data protection requirements spurred by mobilization, free online file sharing services, changing work habits, and the consumerization of IT. The suite uniquely integrates automated endpoint backup, IT-managed file sharing, encryption and other data loss prevention capabilities, and a centralized audit trail of all data content and movement for governance, compliance, eDiscovery and forensics. It also creates a master record of all endpoint data that enables end users to access any file remotely, plus easy content recovery in the event of device loss or theft.
Driven by that broad range of features, Druva\'s customer base has expanded from 1,500 to 2,100 in the last year with a corresponding jump from 1 million to 1.7 million in the number of endpoints under protection. The company has also expanded its workforce from 124 at the end of 2012 to an expected 200 by the end of 2013, and introduced a major inSync upgrade and two new private cloud deployment options since January.
The new funding will underwrite continued R&D, expanded global sales and marketing, and expansion of Druva\'s cloud infrastructure to support new deployments by large enterprises that require the elasticity, multi-tenancy and flexibility of the cloud along with the security, compliance and cost advantages of hosting IT solutions behind the company firewall.
\"With the proliferation of mobile devices and the loss of security and accountability in today\'s \'post-PC\' world, every organization today is facing the need to change the way they protect and govern data\" says Jaspreet Singh, Founder & CEO, Druva. \"The size of this latest funding round is a direct result of our unified strategy for solving these problems, our success to date in attracting customers ranging from UC Berkeley to Sephora and NASA, and our roadmap for expanding the inSync platform to become an essential component of the IT infrastructure.\"