OwnBackup posted on 28 Jan 2021
SaaS Data Protection Company’s Valuation Approaches $1.4 Billion Following Five Years of Triple-Digit Growth
ENGLEWOOD CLIFFS, N.J.--(BUSINESS WIRE)--OwnBackup, a leading cloud data protection platform, today announced a Series D investment of $167.5 million co-led by Insight Partners, Salesforce Ventures, and Sapphire Ventures, with participation from existing investors Innovation Endeavors, Vertex Ventures, and Oryzn Capital. Following a $50 million financing announced just six months ago, OwnBackup’s cumulative funding now totals over $267.5 million. This further underscores the expanding market for cloud data protection and OwnBackup’s position as the platform of choice for nearly 3,000 customers.
“Since day one, we’ve believed that no company operating in the cloud should ever lose data. We are laser-focused on achieving our vision of a single pane of glass for companies to manage, backup, and secure all of their SaaS data,” said Sam Gutmann, CEO of OwnBackup. “As cloud adoption and digital transformation accelerate, the data produced by and stored in SaaS applications is growing even faster. Executives recognize that their approach to cloud data management and security must evolve and adapt to a cloud-native paradigm. 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”.
“The Salesforce Customer 360 Platform is helping organizations digitally transform their businesses to have a single source of truth for their customers,” said Sarah Franklin, CMO, Salesforce. “We're glad to elevate our support for OwnBackup's solution, which extends the capabilities of our platform by providing end-to-end data protection.”
The additional funds will support ongoing investments in global expansion and extend OwnBackup’s platform to help companies big and small manage and secure their most mission-critical SaaS data.
“As we look towards a post-COVID world, one of the key trends we’re noticing is companies doubling down on the data that underpins their increasingly virtual workflows,” said Rajeev Dham, Managing Director at Sapphire Ventures. “Every CIO needs to realize they—not their SaaS vendors—are ultimately responsible for their organization’s data, so smart business continuity strategies are paramount. That’s why we’re excited to collaborate with and support OwnBackup’s extraordinary leadership team as they continue to deliver incredible customer value in the Salesforce ecosystem and beyond.”
“Amid today’s unprecedented demands on data use and security, OwnBackup’s market-leading business continuity and disaster recovery software is a critical requirement for any modern business,” said Nikitas Koutoupes, Managing Director at Insight Partners. “We are thrilled to continue to financially and operationally support the strong team at OwnBackup to accelerate their growth trajectory.”
OwnBackup is trusted by nearly 3,000 customers across every industry, such as AECOM, Aston Martin, Ciena, Delivery Hero, Guidewire Software, the Make-A-Wish Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development Board, and the University of Miami. In its most recent quarter, the company added over 400 new customers, including Alstom SA, Boston Dynamics, Crocs, USA Cycling, Zoom, and many others.
OwnBackup, the leading cloud-to-cloud backup and restore platform, provides secure, automated, daily backups of SaaS and PaaS data, as well as sophisticated data compare and restore tools for disaster recovery. Helping nearly 3,000 businesses worldwide protect critical cloud data, OwnBackup covers data loss and corruption caused by human errors, malicious intent, integration errors, and rogue applications. Built for security and privacy, OwnBackup exceeds the General Data Protection Regulation (GDPR) requirements for backed-up data. Co-founded by seasoned data recovery, data protection, and information security experts, OwnBackup is a top-rated backup and restore ISV on Salesforce AppExchange and was awarded the Salesforce Appy Award in 2018. OwnBackup ranked number 25 on the 2020 Financial Times Americas’ Fastest Growing Companies list and 79 on the 2020 Deloitte Technology Fast 500™ list. Headquartered in Englewood Cliffs, N.J., with R&D, support, and other functions in Tel Aviv and London, OwnBackup is the solution of choice for some of the world’s largest users of SaaS applications.
For more information, visit ownbackup.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world's largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 375 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global executive network, Sapphire invests capital, resources and expertise to enable its portfolio companies to scale rapidly through a powerful business development, marketing and talent platform. With approximately $4 billion in assets under management across its Sapphire Ventures, Sapphire Partners, and Sapphire Sport investment platforms, Sapphire is positioned to elevate companies across technology sectors to the global stage. To learn more about Sapphire Ventures, please see: https://sapphireventures.com/.
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