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
SaaS startup Druva gets $147 million funding at $2 billion valuation
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Last Updated: Apr 19, 2021, 07:15 PM IST
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Synopsis
Druva will use the funding from investors CDPQ and Neuberger Berman for product development and expand into the Nordics and Australia, Jaspreet Singh, CEO of the California-based SaaS startup says.
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Pune:Druva, a cloud data protection and management firm has raised $147 million in a funding round led by Canada’s Caisse de dépôt et placement du Québec (CDPQ), with significant participation by investment management firm Neuberger Berman. Both the firms manage over $300 billion in net assets.
The fresh round of funding values the Pune- and California-based software-as-a-service (SaaS) company at over $2 billion and includes participation from existing investors Viking Global Investors and Atreides Management. This takes the total funds raised by the Sunnyvale, California-headquartered company to $475 million.
[Funding alert] Druva raises $147M at $2B valuation from CDPQ, Neuberger Berman, others yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
Druva, a data-protection startup that counts US space agency NASA and drugmaker Pfizer among its customers, has received $147 million investment as it 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 has increased the Pune and California-based company’s valuation above $2 billion. The financing round also included participation from existing investors Viking Global Investors and Atreides Management. “The unprecedented events of 2020 have ushered in a generational cloud transformation for businesses, and data’s increasing value is at the very heart of it,” said Jaspreet Singh, co-founder and CEO, Druva. He said Druva pioneered the cloud data protection category almost a decade ago. This has led the way in defining the architecture, busine
Druva Secures $147 Million Investment to Extend Market Leadership ibtimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com.au Daily Mail and Mail on Sunday newspapers.