OwnBackup Approaches $3.35 Billion Valuation With Series E Investment; Expands Its Leading Cloud-To-Cloud Data Protection To Microsoft

By AIT News Desk On Aug 11, 2021

The company’s latest funding round includes investments from Alkeon Capital, B Capital Group, BlackRock Private Equity Partners, Tiger Global, Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures

OwnBackup, a leading cloud data protection platform, announced a Series E investment of $240 million co-led by Alkeon Capital and B Capital Group, including a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global. Existing investors Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures also participated. The company has cumulatively raised nearly $500 million, resulting in a $2 billion valuation increase in six months. OwnBackup also announced plans to expand its comprehensive backup and recovery solutions across other cloud platforms later this year, beginning with Microsoft.

OwnBackup’s continued focus on empowering customers to own and protect their data on any cloud platform began with Salesforce’s vast customer ecosystem. The additional funding bolsters OwnBackup’s pattern of success in creating cloud data protection and management products that people need and love. OwnBackup currently provides cloud data protection, sandbox seeding and data archiving solutions for nearly 4,000 organizations worldwide.

“Our commitment to protecting our customers’ data and providing solutions that enable precise, rapid recovery continues to grow. While the cloud is crucial to doing business, the mass adoption of SaaS has resulted in a huge amount of data, and our work with Salesforce, Microsoft and other critical SaaS ecosystems enables companies to thrive in today’s digitally driven world,” said Sam Gutmann, CEO of OwnBackup. “The story of every business is written with data, and this latest round of funding will support our ongoing vision to empower our customers to own and protect their data on any cloud platform.”

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With this latest funding round, OwnBackup is poised to extend its proven cloud data protection expertise to Dynamics 365 later this year. OwnBackup will help Dynamics 365 customers meet complex regulatory requirements and eliminate data disruptions due to user and integration errors. The offering will allow companies to maintain complete ownership of their data backups, rapidly restore lost or corrupted data, and drive greater organizational adoption of Microsoft Azure and Dynamics 365.

“We’re pleased to partner with OwnBackup and give Dynamics 365 customers an additional layer of protection for their data,” said David Totten, Chief Technology Officer at Microsoft. “By enabling organizations to automate the backup process and restore the precise data they need in minutes, OwnBackup’s solutions will help Dynamics 365 customers run more business-critical workloads while eliminating the risk of data loss.”

Along with Salesforce and Microsoft, OwnBackup is actively exploring other cloud providers as potential partners to deliver on its promise for customers to own and protect their mission-critical data.

“In the last 18 months, data has really taken center-stage as the virtual workplace expands,” said Abhi Arun, Managing Partner, Alkeon Capital. “Executives are focused on data solutions and their workforce’s ability to access and secure it when and where they need it. Likewise, customers demand seamless transfer and control of their data on a platform independent of their SaaS provider, while maintaining the highest levels of security for their end-users. That’s why we are thrilled to collaborate with and support OwnBackup’s leadership team as they continue to deliver incredible customer value in the Salesforce ecosystem and beyond.”

Nearly 4,000 customers trust OwnBackup 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.