US-based application backup and recovery software provider OwnBackup has closed a $7.5m series B round featuring Salesforce Ventures, the corporate venture capital arm of enterprise software producer Salesforce.
Private equity and venture capital group Insight Venture Partners led the round, which included VC firms Innovation Endeavors and Oryzn Capital.
Founded in 2012, OwnBackup provides medium-sized and large companies with secure, daily, automated backup, recovery and duplication services used for compliance, audit, data protection and archive purposes.
The funding will be used to grow the company’s team, scale its business and accelerate product innovation, while streamlining the test environment for [software-as-a-service] application developers.
Sam Gutmann, CEO of OwnBackup, said: “The OwnBackup solution has provided our clients peace of mind, in staying ahead of data loss and corruption crises, in knowing they can recover both data and metadata, and in being able to navigate through data crises quickly and with complete confidence.”
Nicolas Wittenborn, vice-president at Insight Venture Partners, will join the OwnBackup board of directors.
OwnBackup graduated from Microsoft Accelerator Tel Aviv in February 2016, the same month it raised $3.5m in a series A round that was led by Innovation Endeavors with participation from Orzyn.