Druva, a US-based cloud data management software provider backed by telecommunications group NTT, attracted $130m yesterday in a round led by hedge fund Viking Global Investors.
Riverwood Capital, Tenaya Capital and Nexus Venture Partners also contributed capital, as did certain funds advised by Neuberger Berman and Atreides Management. Druva is now valued at “well past the $1bn mark,” CEO Jaspreet Singh told TechCrunch.
Founded in 2008, Druva operates a cloud platform that enables users to manage and secure enterprise data, offering features such as backup, disaster recovery, archiving, analytics and protection from ransomware. The funding will go to accelerating Druva’s international expansion efforts and supporting new product development.
The company has now raised $328m in funding altogether. Riverwood Capital led an $80m funding round for Druva in 2017 that also featured Sequoia Capital India, Nexus Venture Partners, Tenaya Capital and unnamed existing backers.
NTT Finance, the financial services subsidiary of NTT, had backed Druva’s $51m series E round in 2016. The round was led by Sequoia India and included Singaporean state-owned investment vehicle EDBI, Blue Cloud Ventures, Hercules Capital, Nexus VP and Tenaya Capital.
In addition to closing the round, Druva has paid an undisclosed sum to acquire CloudLanes, the US-based developer of a platform that helps users move data to the cloud, TechCrunch reported. The deal allowed M12, the corporate venturing arm of software producer Microsoft, to exit.
The acquisition is expected to be formally announced next month. M12 and VC firm Cervin Ventures were investors in CloudLanes as of early 2017, having backed its seed round, though further details could not be ascertained.
