Druva Secures $25 Million in Series C Funding for Endpoint Data Protection & Governance Platform
Druva, headquartered in the US, with an India office in Pune, has received $25 million as Series C funding for its inSync platform, which integrates multiple tools for securing and governing data on end user devices.
The latest round of funding includes follow-on investments from Sequoia Capital and Nexus Venture Partners as well as a substantial first-time investment from Tenaya Capital. (The company had raised $17 million in Series A and B in 2010 and 2011.)
“Druva inSync addresses shifting enterprise data protection requirements spurred by mobilization, free online file sharing services, changing work habits, and the consumerization of IT. The suite uniquely integrates automated endpoint backup, IT-managed file sharing, encryption and other data loss prevention capabilities, and a centralized audit trail of all data content and movement for governance, compliance, eDiscovery and forensics,” the company’s press release informs. “It also creates a master record of all endpoint data that enables end users to access any file remotely, plus easy content recovery in the event of device loss or theft.”
The communiqué further notes that the new funding will underwrite continued R&D, expanded global sales and marketing, and expansion of Druva’s cloud infrastructure to support new deployments by large enterprises that require the elasticity, multi-tenancy and flexibility of the cloud along with the security, compliance and cost advantages of hosting IT solutions behind the company firewall.