News
Druva closes $12 million in series B funding round
August 2011 by Marc Jacob
Druva, a pioneer in enterprise laptop backup and retrieval, today announced that it has received $12 million in a Series B round of funding. The round was led by Nexus Venture Partners, and existing investor Sequoia Capital also contributed to the round. Druva’s Enterprise inSync software sets a new benchmark for enterprise laptop backup, including support for smartphones and tablets. The funding will be used to expand both the product offering and sales and marketing in North America, EMEA and Asia Pacific.
As a result of this new investment, Jaspreet Singh, co-founder and CEO of Druva, has been named chairman of the board. Druva’s board of directors will also consist of Shailendra Singh, managing director, Sequoia Capital; Jishnu Bhattacharjee, principal, Nexus Venture Partners; Ramani Kothandaraman, co-founder and COO of Druva; and Yoram Novick, CEO and founder of Topio.
Druva, founded in 2007, has amassed more than 750 customers and protects more than 300,000 endpoints worldwide. Its InSync product is an industry-first application that delivers near-instantaneous automated backups of laptop computers – with ten times the speed of competitive offerings – while enabling simple one-click restores of any file or backup volume from a Web browser or iPhone/iPad/Android device. The product offers unobtrusive backups over any network – LAN, WAN or VPN – and is WAN-optimised for the mobile user. InSync’s global, source-based deduplication reduces bandwidth and storage by 90 percent while providing 100 percent accuracy for Microsoft Outlook and Office applications.
