OwnBackup closes $23.25m investment to continue expansion of cloud-to-cloud backup and recovery platform
- Published: Monday, 03 June 2019 18:39
OwnBackup, a cloud-to-cloud backup and recovery vendor, has announced the close of a $23.25 million Series C round of financing co-led by Insight Venture Partners and Vertex Ventures. Existing investors Innovation Endeavors, Oryzn Capital and Salesforce Ventures also participated in the round.
Nikitas Koutoupes of Insight Venture Partners, Harpinder Singh of Innovation Endeavors, and Bob DeSantis, president and COO of Conga, have joined the OwnBackup Board to help the company navigate market opportunities.
“Thanks to the unwavering support of our committed investment partners, we will be able to continue to scale to meet escalating market demand for our solutions as companies realize the need to claim ownership of cloud data security concerns and proactively ensure their data is protected and accessible at all times,” noted OwnBackup CEO Sam Gutmann. “As we set the bar for cloud data protection, our focus continues to be growing the team and leading the pack in cloud data protection innovation.”
Achieving 100 percent year-over-year revenue growth for its cloud data protection platform, OwnBackup will use the investment to build on its momentum in the Salesforce ecosystem. With plans to deepen its partner network and double both its engineering and European teams, OwnBackup will increase its presence around the globe and expand its product offerings to support a wide range of cloud data needs.
“OwnBackup has demonstrated value for Salesforce customers and partners,” noted Mike Wolff, SVP Global ISV Partners, Salesforce. “OwnBackup data protection solutions are a welcome addition to Salesforce AppExchange, and we are thrilled by the company’s steadfast commitment to the Salesforce community.”
In addition to the funding, OwnBackup announced the general availability of OwnBackup Archiver, a product that addresses regulatory compliance needs while optimizing the performance of users’ SaaS platforms. The archiving tool automatically archives data and attachments that are no longer needed in production – while maintaining their integrity, data access and security to comply with a wide range of regulations and policies.
To drive growth across Europe, OwnBackup also appointed seasoned technology sales leader Gareth Morris as VP of Sales for EMEA. Bringing almost two decades of enterprise software sales and leadership to his new role, Morris will focus on expanding the company’s European footprint. Based in OwnBackup’s London office, he will grow and manage the EMEA sales team.