US-based data recovery and backup technology provider OwnBackup has completed a $15.5m financing round with backing from Salesforce Ventures, the corporate venturing subsidiary of customer relationship management software producer Salesforce.
Singaporean government-backed venture capital group Vertex Ventures and VC firm Insight Venture Partners co-led the round, which also featured VC firms Innovation Endeavors and Oryzn Capital.
Founded in Israel, OwnBackup has developed a software platform that provides daily automated backup of clients’ data, as well as compare-and-restore tools. The product was built on the Salesforce platform and is available on Salesforce’s AppExchange store.
The funding will be used for company growth and will support a recruitment drive that will allow OwnBackup to double its US and Israel teams, and to enhance its product. Aviad Ariel, general partner at Vertex Ventures, will join the company’s board of directors.
Sam Gutmann, CEO of OwnBackup, said: “With the support of our investors, we will continue to provide the ultimate in independent data protection peace of mind – ensuring that companies have the same data protection in their cloud environments as their on-premise applications.
“We look forward to building on our successes to date as we use the latest funding to break new ground in the data protection space and fill the security void that many companies were not even aware existed.”
OwnBackup has now raised a total of $26.5m since it was founded in 2012. It initially received $3.5m in series A funding from Innovation Endeavors and Orzyn Capital in early 2016 as it graduated from an Israeli accelerator run by software provider Microsoft.
Insight Venture Partners subsequently led the company’s $7.5m series B round in July 2017, investing together with Salesforce Ventures, Innovation Endeavors and Oryzn Capital.