OwnBackup, an Englewood Cliffs, NJ-based cloud data protection platform, raised $240m in Series E funding.
The round was co-led by Alkeon Capital and B Capital Group, including a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global. Existing investors Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures also participated.
The company, which has cumulatively raised nearly $500m, resulting in a $3.35 Billion valuation, intends to use the funds to expand its comprehensive backup and recovery solutions across other cloud platforms later this year, beginning with Microsoft.
Led by Sam Gutmann, CEO, OwnBackup is a cloud-to-cloud data protection platform, which provides secure, automated, daily backups and rapid data restore tools of SaaS and PaaS data. The company’s solutions cover data loss and corruption caused by human errors, malicious intent, integration errors, and rogue applications.
OwnBackup is a backup and restore independent software vendor (ISV) on the Salesforce AppExchange. The company has research and development (R&D), support, and other functions in Israel, EMEA and APAC, currently providing cloud data protection, sandbox seeding and data archiving solutions to nearly 4,000 organizations worldwide, across every industry, such as AECOM, Aston Martin, Ciena, Delivery Hero, Guidewire Software, the Make-A-Wish Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development Board, and the University of Miami.
With this latest funding round, OwnBackup is extending its cloud data protection expertise to Dynamics 365 later this year. Along with Salesforce and Microsoft, the company is actively exploring other cloud providers as potential partners.