It’s incredibly hard to connect the dots when you are trying to look ahead and predict the future. Just like software, and the Internet from previous decades, public cloud and now AI are the megatrends of our generation. Every startup’s journey starts with betting on a few key leading indicators which no one is willing to bet on. Druva’s journey started in 2013 with a pivot to building a data protection and management solution on AWS.
Data is the new business model
Today, data is evermore the lifeblood of any organization. Druva customers are leveraging data to transform their businesses every single day, and cloud adoption is at the forefront of this transformation. This requires reimagining data protection in the cloud era.
We fundamentally believe that the cloud-first approach and SaaS-based delivery model is the only viable option for the future. It not only radically simplifies data protection and reduces costs, but also fuels innovation through a building open, and connected data-services model. Today, Druva helps not just save millions from unrecoverable data failure or regulatory risks like GDPR and HIPAA, but also to uncover new insights to inform critical decision making.
Excited to share that we have raised $130 million, bringing our total capital raised to $328 million. The investment was led by Viking Global, with participation from Neuberger Berman, Atreides Management, and existing Druva investors.
This is a significant milestone for the company and follows a stage of hypergrowth, with our cloud business currently growing more than 50% year-over-year.
The investment would help Druva into an overdrive mode for execution, and fuel further innovation, growth and global expansion. We’re accelerating industry-first product innovations that will not only enable our customers to solve today’s data protection challenges but also gain deeper insights into the data for more informed decision making. At the same time, we continue to invest in our geographical expansion, and customer success to better serve our customers. We have an exciting roadmap ahead and we can’t wait to share more.
And that’s not all. Earlier this week we unveiled a new brand & identity for Druva. Over recent months, we worked with our customers to better align with the direction the business is headed. We’ve got a new logo, new brand identity, and a new website, all part of #TheNewDruva. Find out more, here!
One of Druva’s core values and a centric part of our DNA is our ‘challenger mindset’ – it drives us to push boundaries, overcome hurdles and challenge the status quo. Druva customers, employees, and global partners have played a pivotal role in helping us reach this point and we are grateful to their continued commitment. We will continue to push the bar on how we bring innovation to life and solve customer problems.
Thank you to everyone that has been a part of the journey so far, we look forward to sharing further exciting news in the weeks to come.