Backupify secures $9 Million in Series C Funding
Date: Tuesday , September 04, 2012
Founded in 2008 by Vik Chadha and Rob May, Backupify, is a provider of secure, scalable data protection and management services for consumers, and organizations that rely on web-based applications. The company has secured $9 million in Series C funding from Symantec Corp. as well as existing investors Avalon Ventures, General Catalyst Partners and Lowercase Capital. In combination with previous funding, Cambridge, Mass headquartered company has now raised a total of $19.5 million. Backupify will apply the funds to accelerate further development and adoption of its industry-leading backup solutions and support for additional online services.
"Every day the CIOs and I.T. leaders we talk to are asking us to support more of the cloud-based applications they use to run their businesses. This new round of funding will enable us to extend our market leadership by adding more features and products to fuel new customer adoption, and help businesses move to the cloud with confidence," says Rob May, CEO, Backupify.
Chadha and May started Backupify to address the needs that organizations and consumers have, as they move their information and critical business processes to web-based applications. "As more data is stored in cloud-based services, the threats to that data posed by user error, corruption and hacking also increase. Maintaining a secure second copy of cloud-based data can mitigate each of these risks," says Anthony Woolf, Senior Director, Corporate Development, Symantec.
Backupify currently safeguards data for more than 5,000 businesses, backing up more than 300 terabytes of data stored including more than two billion emails. This rapid growth and market leadership position attracted Symantec to participate in the funding round.