US-based data recovery and backup software developer OwnBackup has completed a series C round featuring Salesforce Ventures, the corporate venturing arm of enterprise software producer Salesforce, that is sized at approximately $23.3m.
Singaporean government-backed venture capital group Vertex Ventures and VC firm Insight Venture Partners co-led the round, investing alongside Innovation Endeavors and Oryzn Capital. All the investors also contributed to the $15.5m first tranche in April 2018.
OwnBackup provides software that allows companies to automatically backup, restore and secure their clients’ data in compliance with regulations such as the European Union’s General Data Protection Regulation (GDPR).
The company will use the series C proceeds to expand its partner network and double the size of its engineering team and headcount in Europe. It has now raised more than $34m to date.
The round comes after OwnBackup raised $7.5m in a mid-2017 series B round led by Insight Partners and backed by Salesforce Ventures and existing investors Innovation Endeavors and Oryzn Capital. OwnBackup had graduated from an Israeli accelerator run by software provider Microsoft the year before.