Druva raises $80 million from investors led by Riverwood Capital
New Delhi: Cloud data protection and management solutions firm Druva on Tuesday said it has raised $80 million (over Rs512 crore), led by Riverwood Capital.
The funding round also saw participation from Sequoia Capital India, Nexus Venture Partners, Tenaya Capital, and most other existing venture investors, a statement on Tuesday said. It added that the latest round brings the total funding raised by the company to about $200 million.
“Druva will leverage this late-stage investment to dramatically accelerate research and development, expand go- to-market efforts worldwide, and lead the industry in redefining how enterprises protect, manage, and use their data,” it said.
The data protection market is expected to touch $28 billion in 2022 for both cloud-based and on-premises servers. Cloud deployments by Druva -- which means ‘north star’ in Sanskrit -- now span more than 4,000 enterprise customers.