Druva Raises $25 Million in Series D Funding Led By Sequoia Capital

has raised $25 million in Series D funding from Sequoia Capital, Nexus Venture Partners and Tenaya Capital. The Sequoia-led round comes 10 months after a $25 million Series C installment from the same investors, bringing the total venture capital investment in Druva since 2010 to $67 million.druva

Since the last round in October 2013, the company’s enterprise customer base has surged from 2,100 to 3,000 with 2.8 million devices in 76 countries now under protection.

Druva also launched a channel program to scale the business and grew its workforce from 200 to an expected 300 by the end of the year, including expanding its global sales and field engineering teams to support increasing international demand.

The Series D funding will underwrite R&D for new inSync enhancements, diversification of the Druva product portfolio, and further expansion into global markets.

Watch the Druva story, as told by founder Jaspreet Singh at UnPluggd, India’s biggest startup conference.

Security Solutions Startup Druva Raises $25 mn Series C from Sequoia Capital, Nexus Venture Partners & Tenaya Capital

druva.gifSecurity solutions company has raised $25 mn in Series C funding from existing investors Sequoia Capital, Nexus Venture Partners and Tenaya Capital, a new investor.

The company which raised $5 mn in 2010 from Sequoia & Indian Angel Network; and $12 mn from Nexus Venture Partners and Sequoia Capital was founded in 2007.

Druva is an endpoint data protection and governance solutions company. The first time investment from Tenaya Capital is “substantial,” said the company.

The startup has over 2100 customers and protects 1.7 million endpoints. It is also expected to employ 200 people by the end of the year, up from 124 at the end of 2012. Druva also introduced a major inSync upgrade and two new private cloud deployment options since January, said the Nexus Venture Partners.

Funds will be used to support R&D, expand global sales and marketing and expansion of Druva’s cloud infrastructure to support new deployment.

Jaspreet Singh, Druva founder and CEO said

The size of this latest funding round is a direct result of our unified strategy for solving these problems, our success to date in attracting customers ranging from UC Berkeley to Sephora and NASA, and our roadmap for expanding the inSync platform to become an essential component of the IT infrastructure.

Tom Banahan, the Managing Director of Tenaya Capital has joined the company’s board.

Watch Jaspreet Singh talk at UnPluggd

Five things startups must try to get right: Jaspreet Singh, Founder & CEO of Druva [UnPluggd speaker #2]

At the sixth edition of UnPluggd, Jaspreet Singh, the founder and CEO of shared some practical ways in which startups can help themselves. Druva was a company founded in 2008 from Pune. They built unified protection and management solution for endpoint data and raised $17 million from Sequoia and Nexus. The company which pivoted 2-3 times, has clients like KPMG, Tesla and NASA with 1450 others now.

1.

Find your Niche and product market fit: Create differentiation. If you don’t have a strong USP, you will die explaining. If the product market fit is not there, you may be fighting the wrong battle.

Hunt deer : Rightsizing your product ensures you focus on how and to whom you sell it. Don’t aim for something too big or small. We used up 1 year using a product that wasn’t salable locally. We couldn’t hunt for elephants. So we built fo the US market. We got some good customers. I prettymuch bootstrapped for the next year and a half or so.

2.

Raising capital: Understand what a VC is interested in. They have limited time and bandwidth. You need to get know the market. Every VC has a different win to lose ratio. You have to map yourselves to the right firm. He is paying for his own growth and you are paying for your startup. The interests are aligned but your understanding will help you work with the right firm.

3.

Valuation is the last thing the founder should be worried about. There are multiple ways a VC can trick you anyways. Whats really valueable for you is the partner, the firm, the value. You need to know what you are setting yourself up for. Ask questions like do you understand my market. See if they have invested in any of the startups in your area. Use capital judiciously. It takes about 3 years to build a product. There is no way you can speed it up. At that stage, be focused on buildling the product and invest in the product.

4.

Cultivate analysts and media by being helpful to them and suggesting ways to work together.

5.

Create barriers to entry: A barrier to entry is not just technology. Its also about being first in the market. You can own a market by marketing the hell out of it. Sometimes you can create technological barrier. Design. Patents. For instance, Gillete invested nearly $1 billion in R&D to create barriers to entry in the commoditised market. For them, innovation was a barrier to entry. By people, marketing, innovation, technology and design, you can create barriers.

Nexus Venture Partners Leads $12 Million Funding in Druva, Pune Based Startup

Nexus Venture Partners has closed $12 million funding in Druva, Pune based startup that provides advanced data protection solutions for organizations.

Druva earlier raised $5mn from Sequoia Capital and IAN in April 2010 and this round is led by Nexus Venture Partners (with participation from existing investor Sequoia Capital).

Druva, founded in 2007, has amassed more than 750 customers and protects more than 300,000 endpoints worldwide.  Its InSync product is an industry-first application that delivers near-instantaneous automated backups of laptop computers – with ten times the speed of competitive offerings – while enabling simple one-click restores of any file or backup volume from a Web browser or iPhone/iPad/Android device.  The product offers unobtrusive backups over any network – LAN, WAN or VPN – and is WAN-optimized for the mobile user.  InSync’s global, source-based deduplication reduces bandwidth and storage by 90 percent while providing 100 percent accuracy for Microsoft Outlook and Office applications.

inSync customers include NASA, Xerox, Siemens, Schlumberger, PWC among others.

–Press Release—

Druva, a pioneer in enterprise laptop backup and retrieval, today announced that it has received $12 million in a Series B round of funding.  The round was led by Nexus Venture Partners with participation from existing investor Sequoia Capital.  Druva’s Enterprise inSync software sets a new benchmark for enterprise laptop backup, including support for smartphones and tablets. The funding will be used to expand both the product offering and sales and marketing in North America, EMEA and Asia Pacific.

“As the explosion of data continues, and so does proliferation of endpoint device types and the mobility of the workforce, Druva has demonstrated a unique capability to address the challenges associated with enterprise backup and endpoint data protection,” said Jishnu Bhattacharjee, Principal, Nexus Venture Partners. “Druva’s disruptive innovation reduces the storage footprint and bandwidth requirement for backup by orders of magnitude compared to other industry solutions. With wide adoption of its on-premise and cloud-based solutions, the fast-growing company is racking up an impressive list of reference customers. We are very excited to partner with the Druva team to help create the next standard in enterprise backup.”

 

“We are very impressed with Druva’s early success in over a dozen countries, the foundation of which is a superior technical approach to backup and an enterprise-grade product that is very easy to use,” said Shailendra Singh, Managing Director at Sequoia Capital.   “Even more, the team has done a tremendous job in the last two years in creating a cutting-edge product suite that includes on-premise and private-cloud-based enterprise backup, support for mobile devices, and remote data-protection features that are unmatched in the industry. We now expect the company to invest significantly in sales and marketing to grow the business in what is a high-growth segment of the backup industry and a multi-billion-dollar market opportunity.”

“Organizations are waking up to the fact that they have important data resident on endpoint devices that is not adequately protected, but should be. Loss of data resident on endpoint devices can prove devastating,” reports* Sheila Childs, Research Vice President at analyst firm Gartner in recent research. “Many mobile workers are high contributors to the success of the business, and carry data on their laptops that would be difficult to reconstruct if the device is destroyed or stolen.”

 

Druva, founded in 2007, has amassed more than 750 customers and protects more than 300,000 endpoints worldwide.  Its InSync product is an industry-first application that delivers near-instantaneous automated backups of laptop computers – with ten times the speed of competitive offerings – while enabling simple one-click restores of any file or backup volume from a Web browser or iPhone/iPad/Android device.  The product offers unobtrusive backups over any network – LAN, WAN or VPN – and is WAN-optimized for the mobile user.  InSync’s global, source-based deduplication reduces bandwidth and storage by 90 percent while providing 100 percent accuracy for Microsoft Outlook and Office applications.

“Most solutions providing backup for data stored on endpoint devices don’t offer an optimized solution that is capable of scaling to meet the ever-changing needs of a growing enterprise,” said Jaspreet Singh, CEO of Druva. “VCs invested in Druva because we have demonstrated the ability to deliver an unmatched solution and have the vision to deliver even greater value in the near future.  This round of funding allows us to expand our product portfolio and footprint in existing markets and penetrate new markets.”

Druva Raises $5mn from Sequoia Capital and IAN

Pune based enterprise startup, Druvaa (has been rebranded to Druva) has raised $5mn from Sequoia capital [they earlier raised 100K USD from India Angel Network in Jan, 2008].druva

Druvaa is into Continuous Data Protection and Disaster Recovery products space and has launched two products – Druva inSync, an enterprise laptop backup (see our earlier coverage of inSync product) as well as Druva Phoenix, a server backup (disk-to-disk backup for local and remote servers) product and boasts of an impressive client list [like NASA, Amway, Canara Bank, IOC etc].

Druva’s R&D team has extensive experience in data storage products, and has incorporated next generation data de-duplication technologies to provide optimized data protection across the enterprise.

Rehan yar Khan (IAN) who was on the Board of Directors of Druva, has now been joined by Shailendra Singh (Sequoia Capital) post the Series A investment.

Investment wrapup: IAN invests in Druvaa, Intel Capital in 123Greetings

India beats China on PE investment in Asia

For the first time, India stood first on the Asian PE chart in terms of deal value aggregate, garnering $9.9 billion in PE investments from 290 deals in 2007. China was second with $9.5 billion, followed by Taiwan with $5.8 billion. [source]

Indian Angel Network invests in Druvaa

India Angel Network has invested $250,000 in Pune-based start-up Druvaa Software Pvt. Ltd.

Druvaa provides enterprise class products for protection of (more…)