1 min read.Updated: 22 Jan 2020, 11:15 PM ISTJaspreet Singh
Originally focused on the financial sector, we quickly realized that such institutions were uncomfortable purchasing critical software from small, India-based companies
To outside observers, most businesses in Silicon Valley might seem like an overnight success. However, a closer look will show that the journey of any successful business is replete with big bets, strategic pivots, and years of perseverance waiting for just the right moment. Entrepreneurship is marked by challenging decisions that will set the course of your company’s future for years to come. That’s not to say decisions cannot be reversed, but the expenditure of time, capital, and man hours cannot be recouped. As such, each decision carries a lot of weight. Deciding whether to refine and iterate or take a big risk and start over is never easy. Such decisions require a keen sense of forces guiding the market, as well as a lot of conviction in your vision and the abilities of the team you’ve built. For Druva, our defining moment came in 2013 when we decided the future of business would be in the cloud.
When we started Druva in 2008, the first 18 months were challenging. Originally focused on the financial sector, we quickly realized that such institutions were uncomfortable purchasing critical software from small, India-based companies. At that point, we pivoted to a product designed more generally for enterprise uses, especially remote offices and employees. This led to a lot of success and paved the way for our first successful round of funding. However, we remained convinced there was potential for something more.
Then, after a meeting with Werner Vogels, AWS’s CTO, we knew what had to be done. It would require a massive transformation of our business and product architecture, but we understood that if we were successful in becoming a native-cloud SaaS solution, we would be years ahead of any potential competitors and on a path to potentially grow into a generational company. We were the first data protection company to be fully offered as a service and today those decisions are bearing fruit. We are the market leader, support more than 4,000 customers, and recently surpassed $100 million in annual recurring revenue.