Funding News

Sequoia and Nexus backed Druva raises $147Mn at $2Bn valuation

Cloud data protection startup Druva clocked a eye-popping valuation of $2Bn after raising $147 Mn in a fresh funding round. Canada’s CDPQ  and Neuberger Berman led the round while Viking Global Investors and Atreides also took part in the round.

Apart from Canada’s CDPQ, all rest are existing investors in Druva. Druva is actually based in California and boasts a sprawling R&D center in Pune.

The California-based startup had entered the coveted unicorn status in 2019 after raising $130Mn from investors. According to a rough estimate, till date Druva has raised $450Mn – $500 Mn in risk capital since its inception in 2008, which actually marked the beginning of the global economic recession.

To read about Druva’s $130Mn unicorn funding in 2019, please click here.    

Built on platforms like Azure and AWS, Druva offers a SaaS platform that promises to protect data on a scale as well as with the simplicity of the public cloud. It seeks to provide data protection across the centers, cloud applications, and endpoints.

Although Techpluto does not have access to Druva’s revenue numbers, last year the company announced that its recurring revenue grew 70% on a YOY basis and overall data under management grew 50% in the past one year.

Druva is among scores of Indian SaaS startups that today are members of the unicorn club. Druva is joined by the likes of high-profile SaaS companies like Freshworks, Zoho, Postman and Zenoti in the unicorn club.

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