Druva

Last updated

Druva Inc.
Company type Private
Industry
Founded2008
FoundersJaspreet Singh, Milind Borate, Ramani Kothandaraman
Headquarters
Santa Clara, California, United States
Key people
Jaspreet Singh (CEO)
Milind Borate (CTO)
Products
  • Druva Phoenix
  • Druva inSync
  • Druva CloudRanger
RevenueIncrease2.svg $100.2 Million(2019) [1]
Number of employees
1,000+ [2]  (2022)
Website www.druva.com

Druva Inc. is an American privately held software company. The company provides SaaS-based data protection and management products. [3]

Contents

History

In 2008, Jaspreet Singh (CEO), Milind Borate (CTO), and Ramani Kothandaraman, who met while working at Veritas Software, [4] founded Druva in Pune, India. [5] [6]

The company's name is derived from Sanskrit word, "Dhruva" which translates to "Pole Star". [7] Initially, Druva focused on providing data management software to financial companies before shifting to general enterprise data management. [5]

In 2010, the company received Series A funding. [4] In 2011, the company added smartphone support for its Insync app [8] and received Series B funding. [9] The next year, the company moved its headquarters to Silicon Valley, and again shifted focus to cloud-based data management and protection. [5] By 2013 Dhruva raised Series C funding. [10]

In 2014, Druva released its Phoenix server backup product [11] and received Series D funding. [12] By 2016, the company set up a subsidiary in Japan and an office in Tokyo. [7] Druva received FedRAMP authority to operate in 2017. [13] [14] In 2019, Druva opened an office in Singapore. [5] The company also received additional late-stage funding, [3] which brought its total amount invested to $328 million and its total valuation to more than $1 billion. [15]

In 2018, Druva acquired Letterkenny-based CloudRanger, a backup and disaster recovery company. [16] In 2019, Druva acquired CloudLanes to supplement its on-premises to cloud performance. [17] [18] The following year it acquired sfApex, a Texas based backup and migration company focused on Salesforce data. [19] In April 2021, Druva raised $147 million in its eighth funding round, valuing the company at about $2 billion. [20] [21]

References

  1. ↑ "Druva Sets the Pace for Cloud Data Protection, Surpassing $100 Million in Annual Recurring Revenue".
  2. ↑ Druva Fact Sheet (PDF), Druva
  3. 1 2 Novinson, Michael (20 June 2019). "Data Protection Vendor Druva Raises $130M In Push Toward IPO". CRN. Retrieved 21 November 2019.
  4. 1 2 Ganguly, Payal (11 July 2019). "From Pune to Sunnyvale: The Druva template for building a global SaaS leader". TechCircle. Retrieved 23 November 2019.
  5. 1 2 3 4 Schubarth, Cromwell (19 November 2019). "Third time's the charm for data management and protection unicorn". Silicon Valley Business Journal. Retrieved 21 November 2019.
  6. ↑ Sangani, Priyanka (21 June 2019). "$130m funding brings unicorn tag to Druva". The Economic Times. Retrieved 21 November 2019.
  7. 1 2 Mellor, Chris (21 April 2016). "Druva fills luggage with cash, heads to Japan". The Register. Retrieved 21 November 2019.
  8. ↑ Mearian, Lucas (10 February 2011). "Druva goes live with inSync backup app for enterprises". Computerworld. Retrieved 23 November 2019.
  9. ↑ Paul, Binu (20 June 2019). "Sequoia-backed SaaS firm Druva enters unicorn club with $130mn funding round". TechCircle. Retrieved 23 November 2019.
  10. ↑ "Druva Raises $25M For Backup And File Sharing Platform". TechCrunch. 15 October 2013. Retrieved 23 November 2019.
  11. ↑ Vaughan-Nichols, Steven J. (10 October 2014). "Druva Phoenix: Not your usual cloud backup services". ZDNet. Retrieved 23 November 2019.
  12. ↑ Miller, Ron (6 August 2014). "Druva Lands $25M In Series D Funding To Expand Mobile Data Protection Strategy". TechCrunch. Retrieved 23 November 2019.
  13. ↑ Adams, Ramona (3 November 2017). "Druva Obtains FedRAMP Authorization for Data Mgmt-as-a-Service Offering". ExecutiveBiz. Retrieved 23 November 2019.
  14. ↑ Trumbull, Ty (7 December 2017). "Druva Cloud Data Protection Service Gains Momentum". ChannelE2E. Retrieved 23 November 2019.
  15. ↑ Cooper, Laura (20 June 2019). "Viking-Led Funding Round Elevates Druva to Unicorn Status" . The Wall Street Journal. Retrieved 23 November 2019.
  16. ↑ Taylor, Charlie (5 June 2018). "Letterkenny-based tech start-up snapped up by Silicon Valley company". The Irish Times. Retrieved 21 November 2019.
  17. ↑ Wheatley, Mike (16 July 2019). "Druva acquires CloudLanes to bring cloud-native data protection to the edge". SiliconAngle. Retrieved 26 July 2019.
  18. ↑ Lunden, Ingrid (20 June 2019). "SaaS data protection provider Druva nabs $130M, now at a $1B+ valuation, acquiring CloudLanes". TechCrunch. Retrieved 21 November 2019.
  19. ↑ Soni, Sandeep (18 November 2020). "SaaS unicorn Druva acquires US-based Salesforce cloud backup firm sfApex to ramp up data protection". Financial Express.
  20. ↑ Kovar, Joseph F. (19 April 2021). "Druva Hits $2B Valuation With New $147M Funding". CRN. Retrieved 17 August 2021.
  21. ↑ "SaaS startup Druva gets $147 million funding at $2 billion valuation". The Economic Times. 19 April 2021. Retrieved 17 August 2021.
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