Druva Inc., a provider of Cloud Data Protection and Management, has announced a $147 million investment as the company scales in response to accelerated demand for its platform.
The fundraise was led by Caisse de dépôt et placement du Québec (CDPQ), a global investment group, with a significant investment by Neuberger Berman, each of which manage more than $300 billion in net assets. The round, which raises the company’s valuation above $2 billion, also included participation from existing investors Viking Global Investors and Atreides Management.
As organizations quickly move workloads to cloud environments, adopt SaaS solutions, and combat rising cyber threats, this new investment will fuel continued expansion of Druva Cloud Platform to meet today’s unprecedented needs, and extend the company’s industry leadership as it defines tomorrow’s data protection, according to a statement made by the company.
“Rising volumes of stored data, rapid adoption of cloud and deployment of SaaS applications, regulatory frameworks and cybersecurity concerns have accelerated the demand for data protection and management solutions for businesses,” said Alexandre Synnett, Executive Vice President and Chief Technology Officer, CDPQ. “The working-from-home dynamic experienced globally has further accentuated the need for cloud-based data protection solutions and we believe Druva is in an excellent position to seize opportunities and enhance its clients’ agility and data compliance.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.