Druva Secures $147 Million Investment to Extend Market Leadership
Tuesday, April 20, 2021 10:45AM IST (5:15AM GMT)
New Funding to Fuel Continued Innovation, Scale, and Expand Routes to Market for Druva Cloud Platform
Sunnyvale, Calif., United States:
Druva Inc., the leader in Cloud Data Protection and Management, today announced a $147 million investment as the company rapidly scales in response to accelerated demand for its platform. The fundraise was led by Caisse de dépôt et placement du Québec (CDPQ), a global investment group, with a significant investment by Neuberger Berman, each of which manage more than $300 billion in net assets. The round, which raises the company’s valuation above $2 billion, also included participation from existing investors Viking Global Investors and Atreides Management. As organizations quickly move workloads to cloud environments, adopt SaaS solutions, and combat rising cy
Druva raises $147 million, valued at over $2 billion
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India-born Druva raises $147M at $2B valuation
By IANS |
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Pune, April 19 : Cloud data protection and management company Druva on Monday announced it has raised $147 million led by CDPQ, a global investment group, taking its valuation to $2 billion.
The latest funding also has a significant investment by New York-based Neuberger Berman.
Founded by CEO Jaspreet Singh and Milind Borate (co-founder and CTO) in Pune in 2008, the entire R&D work at the company is being done from India.
Druva which has now moved its headquarters to Sunnyvale, California, said in a statement that the new investment will fuel continued expansion of its cloud platform to meet today s unprecedented needs, and extend the company s industry leadership as it defines tomorrow s data protection.
Druva raises $147 million to extend its market leadership
Bengaluru, 19 April
Druva Inc, the leader in Cloud Data Protection and Management, has announced a $147 million fundraise as the company rapidly scales in response to accelerated demand for its platform. The fundraise was led by Caisse de dépôt et placement du Québec (CDPQ), a global investment group, with a significant investment by Neuberger Berman, each of which manage more than $300 billion in net assets.
The round, which raises the company’s valuation above $2 billion, also included participation from existing investors Viking Global Investors and Atreides Management. Druva is a privately held company headquartered in Sunnyvale, California with its R&D facility in Pune. It is funded by Sequoia Capital, Viking Global Investors, CDPQ, Neuberger Berman, Tenaya Capital, Riverwood Capital and Nexus Partners. The company has raised $475 million since its inception in 2008.
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MONTRÉAL, April 19, 2021 /PRNewswire/ - Caisse de dépôt et placement du Québec (CDPQ), a global investment group, announced a USD 100-million investment in Druva, a global leader in cloud data protection and management. Three existing shareholders Neuberger Berman, Viking Global Investors and Atreides Management also participated in this growth round led by CDPQ and totalling USD 147 million. As part of the agreement, CDPQ is joining Druva s Board of Directors.
The Druva Cloud Platform enables organizations to centrally protect data irrespective of location: cloud environments, leading SaaS applications (Microsoft 365, Google Workspace and Salesforce), hybrid environments, or endpoint devices. Thousands of organizations worldwide, including over 50 of the Fortune 500, are using Druva s SaaS platform to reduce the complexity of data protection, accelerate and protect cloud projects and increase cyber resilience and regulatory compl
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