Cloud data backup provider OwnBackup raised a Series D funding round worth $167.5 million led by Insight Partners, bringing its total valuation to $1.4 billion.
The company, which services Salesform platform plans to expand its coverage to other ecosystems including Sage, Ncino, and Veeva. More than this, the data backup provider aims to continue its plans to achieve global expansion to cater to all business sizes.
As the shift to remote work spiked due to the ongoing global pandemic, the company is leveraging the right technology to give developers peace of mind. This is in terms of data recovery, compare, backup, and archive.
In addition, OwnBackup is also looking at providing more functionality for more complex workloads and datasets. This means, no matter how sophisticated the company systems are, OwnBackup can find a solution to prevent data loss.
Backup and recovery are important aspects of cloud storage. Without these features, businesses can easily lose a number of data crucial for the operations, management, and planning. Now with companies shifting to cloud storage, it’s high time to invest in end-to-end data protection.
More than the expansion plans, OwnBackup is also thinking of securing more ways for mission-critical SaaS data. This will be beneficial for business entities of all sizes, especially those who deal with a massive amount of data.
Salesforce Ventures and Sapphire Ventures back the company, along with other participants in the Series D funding like Innovation Endeavors, Vertex Ventures, and Oryzn Capital.
“Our platform is purpose-built for cloud-to-cloud backup and protection and this latest round of funding is the next step in our mission to help our customers truly own their SaaS data,” said OwnBackup CEO Sam Gutmann.
The company aims to adapt to the changing needs of enterprises, especially now with the acceleration of digital transformation. More companies rely on SaaS applications to cater to the growing data needs.
With this, OwnBackup is rethinking its strategies and recognizes the best approach to attend to the growing SaaS adaptations. More than this, it also ensures to provide proper end-to-end data protection so data won’t be wiped out.
The new funding can help support OwnBackup’s ongoing investments in the global expansion, as well as to extend the platform to help more firms. Either big or small can utilize the platform to secure mission-critical SaaS data.
