OwnBackup, a cloud data protection platform, has announced a Series E investment of $240 million co-led by Alkeon Capital and B Capital Group, including a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global. Existing investors Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures also participated.
The company has cumulatively raised nearly $500 million, resulting in a $2 billion valuation increase in six months. OwnBackup also announced plans to expand its comprehensive backup and recovery solutions across other cloud platforms later this year, beginning with Microsoft.
“Our commitment to protecting our customers’ data and providing solutions that enable precise, rapid recovery continues to grow. While the cloud is crucial to doing business, the mass adoption of SaaS has resulted in a huge amount of data, and our work with Salesforce, Microsoft and other critical SaaS ecosystems enables companies to thrive in today’s digitally driven world,” said Sam Gutmann, CEO of OwnBackup. “The story of every business is written with data, and this latest round of funding will support our ongoing vision to empower our customers to own and protect their data on any cloud platform.”
“We’re pleased to partner with OwnBackup and give Dynamics 365 customers an additional layer of protection for their data,” said David Totten, Chief Technology Officer at Microsoft. “By enabling organizations to automate the backup process and restore the precise data they need in minutes, OwnBackup’s solutions will help Dynamics 365 customers run more business-critical workloads while eliminating the risk of data loss.”
“In the last 18 months, data has really taken center-stage as the virtual workplace expands,” said Abhi Arun, Managing Partner, Alkeon Capital. “Executives are focused on data solutions and their workforce’s ability to access and secure it when and where they need it. Likewise, customers demand seamless transfer and control of their data on a platform independent of their SaaS provider, while maintaining the highest levels of security for their end-users. That’s why we are thrilled to collaborate with and support OwnBackup’s leadership team as they continue to deliver incredible customer value in the Salesforce ecosystem and beyond.”
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.