SaaS Data Protection Company’s Valuation Approaches $1.4 Billion Following Five Years of Triple-Digit Growth
OwnBackup, a leading cloud data protection platform, announced a Series D investment of $167.5 million co-led by Insight Partners, Salesforce Ventures, and Sapphire Ventures, with participation from existing investors Innovation Endeavors, Vertex Ventures, and Oryzn Capital. Following a $50 million financing announced just six months ago, OwnBackup’s cumulative funding now totals over $267.5 million. This further underscores the expanding market for cloud data protection and OwnBackup’s position as the platform of choice for nearly 3,000 customers.
“Since day one, we’ve believed that no company operating in the cloud should ever lose data. We are laser-focused on achieving our vision of a single pane of glass for companies to manage, backup, and secure all of their SaaS data,” said Sam Gutmann, CEO of OwnBackup. “As cloud adoption and digital transformation accelerate, the data produced by and stored in SaaS applications is growing even faster. Executives recognize that their approach to cloud data management and security must evolve and adapt to a cloud-native paradigm. Our platform is purpose-built for cloud-to-cloud backup and protection and this latest round of funding is the next step in our mission to help our customers truly own their SaaS data.”
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“The Salesforce Customer 360 Platform is helping organizations digitally transform their businesses to have a single source of truth for their customers,” said Sarah Franklin, CMO, Salesforce. “We’re glad to elevate our support for OwnBackup’s solution, which extends the capabilities of our platform by providing end-to-end data protection.”
The additional funds will support ongoing investments in global expansion and extend OwnBackup’s platform to help companies big and small manage and secure their most mission-critical SaaS data.
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“As we look towards a post-COVID world, one of the key trends we’re noticing is companies doubling down on the data that underpins their increasingly virtual workflows,” said Rajeev Dham, Managing Director at Sapphire Ventures. “Every CIO needs to realize they—not their SaaS vendors—are ultimately responsible for their organization’s data, so smart business continuity strategies are paramount. That’s why we’re excited to collaborate with and support OwnBackup’s extraordinary leadership team as they continue to deliver incredible customer value in the Salesforce ecosystem and beyond.”
“Amid today’s unprecedented demands on data use and security, OwnBackup’s market-leading business continuity and disaster recovery software is a critical requirement for any modern business,” said Nikitas Koutoupes, Managing Director at Insight Partners. “We are thrilled to continue to financially and operationally support the strong team at OwnBackup to accelerate their growth trajectory.”
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