Pune Based Druva Raises USD 25 Mln Series C Funding led by Tenaya Capital
Pune based security solutions company Druva has raised significant third round funding led by new investor and participation by existing ones.
Tenaya Capital led this round of funding of USD 25 million with significant contribution from their existing VCs – Sequoia Capital and Nexus VC. Tom Banahan from Tenaya Capital will join the board.
The funding raised will be primarily used to expand its R&D as well as sales and marketing.
There is a reason why Druva could command such significant funding – they have over 2100 paying clients that includes big names like NASA, US Army, Nikon and GE. 70 percent of the Druva’s estimated revenue of about Rs 152 crore comes from the US market.
Started in 2008, Druva has witnessed a significant growth in last 18 to 24 months. They have grown from 220k endpoint devices protected in 2010, to over 1.7 million currently. Druva now has over 37000 terrabytes of data under management.
Druva’s CEO, Jaspreet Singh said in regards to the funding, “The size of this latest funding round is a direct result of our unified strategy for solving these problems, our success to date in attracting customers ranging from UC Berkeley to Sephora and NASA, and our roadmap for expanding the inSync platform to become an essential component of the IT infrastructure,” said Jaspreet Singh, founder and CEO, Druva.
The company also released an infographic which shows Druva’s growth story since they started. It sure paints a great picture of a startup success!