Druva, a cloud data management software provider backed by telecommunications company NTT, raised $80m today in a round led by private equity Riverwood Capital.
Venture capital firms Sequoia Capital India, Nexus Venture Partners and Tenaya Capital also took part in the round alongside “most” of Druva’s existing investors, though they were not explicitly identified.
Founded in 2008, Druva has developed a cloud platform that securely manages and protects data aggregated from a client’s endpoints, servers and cloud applications.
The proceeds from the round, which increased the company’s overall funding to approximately $198m, will be used to strengthen its research and development activities and go-to-market efforts.
NTT’s financial services division, NTT Finance, participated in Druva’s last round, a $51m series E in October 2016 that was led by Sequoia India and backed by EDBI, Blue Cloud Ventures, Hercules Capital, Nexus Venture Partners and Tenaya Capital.
Jaspreet Singh, Druva’s co-founder and chief executive, said: “We see today’s digital transformation as a data transformation, and protecting data in today’s cloud-connected environment requires a fresh approach.
“Druva’s as-a-service solution eliminates costly and complex infrastructure to quickly and seamlessly protect, govern and gain intelligence from their data when and where it is needed.”