New Delhi: Cloud data protection and management firm Druva Thursday said it has raised USD 130 million (over Rs 900 crore) in funding led by Viking Global Investors. The latest round, which takes the total capital raised by the company till date to USD 328 million, also saw participation from new investors including certain funds advised by Neuberger Berman and Atreides Management.
Existing investors including Riverwood Capital, Tenaya Capital, and Nexus Venture Partners also participated in the round. "The investment will be used to fuel growth and global expansion, as well as drive new product innovations...this funding will help Druva to power data protection for the cloud era, and accelerate our momentum to better serve the needs of enterprise customers," Druva founder and CEO Jaspreet Singh told PTI.
He added that the data protection industry is expected to expand significantly to reach USD 55 billion by 2020. With its R&D set up in Pune, Druva offers cloud-based backup, disaster recovery, archival and analytics solutions. It has over 4,000 enterprise customers, including names like Pfizer, Flex, Marriott, Live Nation, and Hitachi.
The company gets about 80 per cent of its revenues from the North American market, but has been focussing on strengthening its business in regions like Asia Pacific as well.
"We expect, 25 per cent of our revenues to come from our international business... we are approaching USD 100 million revenue run rate in a couple of months," Singh said. In India, Druva has a team of about 450 people across R&D and sales, he added.
