Odaseva raises $25 million to accelerate enterprise trust in the cloud
October 2020 by Marc Jacob
Odaseva announced a Series B funding round of $25 million, bringing the company’s total funding to $40 million.
The round, led by Eight Roads Ventures with new investor F-Prime Capital as well as participation from existing investors Partech, Salesforce Ventures, and Serena, will accelerate Odaseva’s strong growth in the enterprise market, building on momentum in North America and internationally, while paving the way for an expanded focus on one of the most important unsolved problems in enterprise technology.
Since the company launched in 2012, Odaseva has broadened the scope of data protection for large-scale Salesforce customers from ensuring business continuity to driving operational agility. Customers use Odaseva’s technology for everything from backing up and archiving data to ensuring data privacy to replicating and leveraging data within Centers of Excellence.
To date, Odaseva’s strategic focus and strong execution have led to remarkable success. The company has seen three consecutive years of 100% revenue growth, driven by its penetration of the enterprise market in North America and internationally.
Over the past two years, Odaseva doubled its headcount and added leading enterprises such as Dropbox, Boston Scientific, and Manulife to a customer list that includes Heineken, Schneider Electric, Robert Half, Toyota, and many other Fortune Global 500 companies—all despite the challenges of operating in a global pandemic.
The new round of investment will support several key growth initiatives for the company, including:
· Further development of the depth and breadth of the core Enterprise Cloud Trust Platform offering, supporting platforms including Salesforce, Microsoft 365, and more
· Accelerated hiring in the company’s San Francisco, Sydney, and Paris offices
· Increased investment in Odaseva’s strong ecosystem of users and partners, extending Odaseva’s long-standing commitment to developing and teaching the best practices of enterprise cloud data protection