Sequoia backed Druva raises $51 million in series E funding

Data protection solutions provider, Druva raised $51 million in series E funding from a consortium of investors led by Sequoia India. The round was led by existing investor Sequoia India and joined by new investors – Singapore-based EDBI, as well as Blue Cloud Ventures and Hercules Capital. It also included contributions from other existing investors […]

Data protection solutions provider, Druva raised $51 million in series E funding from a consortium of investors led by Sequoia India.

The round was led by existing investor Sequoia India and joined by new investors – Singapore-based EDBI, as well as Blue Cloud Ventures and Hercules Capital. It also included contributions from other existing investors like NTT Finance, Nexus Venture Partners and Tenaya Capital.

The new funding will bring its total raised capital to $118 million. The capital will be used to accelerate both product innovation and adoption, all while enhancing product capabilities across its secure cloud platform.

Founder and CEO Jaspreet Singh in a statement said, “In today’s age, simple is genius, and Druva’s 82 NPS speaks to how our cloud-first approach is simple yet disruptive.” Sequoia’s MD, Shailendra Singh said, “It has been six years since Sequoia India’s first Series A investment. We are thrilled to continue to partner with Druva to build an enduring company.”

Founded in 2008, the California-headquartered firm boasts of some impressive clients like Lockheed Martin, NASA, Stanford University and others.

Source: Money Control