HYCU Raises $53M in Series B Funding


HYCU, Inc., a Boston, MA-based enterprise BaaS company specializing in hybrid cloud and multi-cloud data backup and recovery as a service, raised $53m in Series B funding.

The round was led by Acrew Capital with participation from Bain Capital Ventures (BCV), Atlassian Ventures and Cisco Investments. Theresia Gouw, cofounder of Acrew Capital, joined BCV Partners Enrique Salem and Stefan Cohen, and Simon Taylor on the HYCU Board of Directors.

The company intends to use the funds to accelerate several key go-to-market initiatives to support demand in its multi-cloud data protection solutions across on-premises and public cloud environments, including bringing to market a new developer-led SaaS service. 

Led by Founder and CEO Simon Taylor, HYCU provides a SaaS-based data backup platform for both on-premises and cloud-native environments, enabling data protection, migration and disaster recovery for more than 3,100 companies worldwide. The company, which employs 300 people across the globe, provides granular recovery capabilities, supporting individual file systems and networks that enable SaaS services to write an enterprise-grade data protection solution directly into its platform.