Druva raises $12 Million in Series B Funding
Date: Thursday , September 01, 2011
Druva, an enterprise that provides laptop backup and retrieval, raises $12 million in Series B round of funding. The funding was led by Nexus Venture Partners in participation from the existing investor Sequoia Capital. The fund will be used for expansion of product offering, sales and marketing in North America, EMEA and Asia Pacific, and for market expansion.
“Most solutions providing backup for data stored on endpoint devices do not offer an optimized solution that is capable of scaling to meet the ever-changing needs of a growing enterprise. VCs invested in Druva as we have demonstrated the ability to deliver an unmatched solution and have the vision to deliver even greater value in the near future,” says Jaspreet Singh, CEO, Druva. Co-Founded in 2007 by Jaspreet Singh, Ramani Kothandaraman and Milind Borate, Druva Software sells enterprise backup and retrieval software. Its clientele includes NASA, Louis Vuitton and Xerox and has over 750 customers across 26 countries. Since inception, they have launched two product streams; inSync for laptop backup and Phoenix for server backup.
Druva has offices in India, California, Texas and London. Its unique application-aware deduplication technology delivers faster backups and saves about 90 percent in storage and bandwidth. The flagship product of the company, inSync is highly scalable, WAN-optimization solution designed from the ground up for laptop backup.