Druva Explained

Druva Inc.
Type:Private
Predecessors:-->
Successors:-->
Founded: 2008
Founders:Jaspreet Singh, Milind Borate, Ramani Kothandaraman
Hq Location City:Santa Clara, California, United States
Areas Served:-->
Key People:Jaspreet Singh (CEO)
Milind Borate (CTO)
Owners:-->
Num Employees:1,000+
Num Employees Year:2022
Revenue: $100.2 Million(2019)[1]

Druva Inc. is a privately-held software company with corporate headquarters in Santa Clara, California. The company provides SaaS-based data protection and management products. The company was founded in 2008, raised several rounds of funding, and grew to more than 800 employees.

History

In 2008, Jaspreet Singh (CEO), Milind Borate (CTO), and Ramani Kothandaraman, who met working together at Veritas Software,[2] founded Druva in Pune, India.[3] [4] The company's name is derived from Sanskrit word, "Dhruva" which translates to "Pole Star". Initially, Druva focused on providing data management software to financial companies before shifting to general enterprise data management.[3]

In 2010, the company received Series A funding.[2] In 2011, the company added smartphone support for its inSync app[5] and received Series B funding.[6] The next year, the company moved its headquarters to Silicon Valley, and again shifted focus to cloud-based data management and protection.[3] By 2013, the company had grown 194 employees. The company raised Series C funding the same year.[7]

In 2014, Druva released its Phoenix server backup product[8] and received Series D funding.[9] By 2016, the company had grown to 400 employees,[10] and set up a subsidiary in Japan and an office in Tokyo.[11] Druva received more funding[12] and FedRAMP authority to operate in 2017.[13] [14] In 2019, Druva grew to 750 employees and more than 4,000 customers, and opened an office in Singapore.[3] The company also received additional late-stage funding,[15] which brought its total amount invested to $328 million and its total valuation to more than $1 billion.[16]

In 2018, Druva acquired Letterkenny-based CloudRanger, a back-up and disaster recovery company.[17] In 2019, Druva acquired CloudLanes to supplement its on-premises to cloud performance.[18] [19] The following year it acquired sfApex, a Texas based backup and migration company focused on Salesforce data.[20] In April 2021, Druva raised $147 million in its eighth funding round, valuing the company at about $2 billion.[21] [22]

Products

Druva creates and sells data protection and management products.

All of Druva's products operate on same cloud-native backup platform built on Amazon Web Services that provides a centralized backup repository.[23] [24]

Druva is focused on storing data in backups and managing those backups for servers, Software-as-a-Service applications, and cloud-based software.[25] For example, in 2018 it introduced features that restore computer systems compromised by ransomware and specialized technology for backups of SQL servers, Azure directories, and network-attached storage.

Notes and References

  1. Web site: Druva Sets the Pace for Cloud Data Protection, Surpassing $100 Million in Annual Recurring Revenue.
  2. News: Ganguly . Payal . From Pune to Sunnyvale: The Druva template for building a global SaaS leader . 23 November 2019 . TechCircle . 11 July 2019.
  3. News: Schubarth . Cromwell . Third time's the charm for data management and protection unicorn . 21 November 2019 . Silicon Valley Business Journal . 19 November 2019.
  4. News: Sangani . Priyanka . $130m funding brings unicorn tag to Druva . 21 November 2019 . The Economic Times . 21 June 2019.
  5. News: Mearian . Lucas . Druva goes live with inSync backup app for enterprises . 23 November 2019 . Computerworld . 10 February 2011.
  6. News: Paul . Binu . Sequoia-backed SaaS firm Druva enters unicorn club with $130mn funding round . 23 November 2019 . TechCircle . 20 June 2019.
  7. News: Druva Raises $25M For Backup And File Sharing Platform . 23 November 2019 . TechCrunch . 15 October 2013.
  8. News: Vaughan-Nichols . Steven J. . Druva Phoenix: Not your usual cloud backup services . 23 November 2019 . ZDNet . 10 October 2014.
  9. News: Miller . Ron . Druva Lands $25M In Series D Funding To Expand Mobile Data Protection Strategy . 23 November 2019 . TechCrunch . 6 August 2014.
  10. Web site: Taking Front Seat In India's Exploding Money-Making Cloud. dataeconomy.com. February 20, 2019.
  11. News: Mellor . Chris . Druva fills luggage with cash, heads to Japan . 21 November 2019 . The Register . 21 April 2016.
  12. News: Mellor . Chris . End-point backupper Druva stuffs sack with another $80m in VC cash . 21 November 2019 . The Register . 22 August 2017.
  13. News: Adams . Ramona . Druva Obtains FedRAMP Authorization for Data Mgmt-as-a-Service Offering . 23 November 2019 . ExecutiveBiz . 3 November 2017.
  14. News: Trumbull . Ty . Druva Cloud Data Protection Service Gains Momentum . 23 November 2019 . ChannelE2E . 7 December 2017.
  15. News: Novinson . Michael . Data Protection Vendor Druva Raises $130M In Push Toward IPO . 21 November 2019 . CRN . 20 June 2019.
  16. News: Cooper . Laura . Viking-Led Funding Round Elevates Druva to Unicorn Status . 23 November 2019 . The Wall Street Journal . 20 June 2019 . subscription.
  17. News: Taylor . Charlie . Letterkenny-based tech start-up snapped up by Silicon Valley company . 21 November 2019 . The Irish Times . 5 June 2018.
  18. Web site: Druva acquires CloudLanes to bring cloud-native data protection to the edge. Wheatley. Mike. 16 July 2019. SiliconAngle. 26 July 2019.
  19. News: Lunden . Ingrid . SaaS data protection provider Druva nabs $130M, now at a $1B+ valuation, acquiring CloudLanes . 21 November 2019 . TechCrunch . 20 June 2019.
  20. News: SaaS unicorn Druva acquires US-based Salesforce cloud backup firm sfApex to ramp up data protection . Soni . Sandeep . Financial Express. 18 November 2020.
  21. Web site: Kovar . Joseph F. . Druva Hits $2B Valuation With New $147M Funding . CRN . 19 April 2021 . 17 August 2021.
  22. Web site: SaaS startup Druva gets $147 million funding at $2 billion valuation . The Economic Times . 19 April 2021 . 17 August 2021.
  23. News: Aggarwal . Varun . Cloud start-up Druva in Unicorn club as $130 mn funding takes its valuation past $1 bn . 21 November 2019 . The Hindu BusinessLine . 20 June 2019.
  24. News: Mellor . Chris . Back up bod Druva paddles even further up the Amazon . 21 November 2019 . The Register . 13 November 2017.
  25. News: Magic Quadrant for Enterprise Backup and Recovery Software Solutions. July 19, 2021 . Santhosh . Rao . Nik . Simpson . Michael . Hoeck . Jerry . Rozeman . 9.

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