Pune based Enterprise Data Protection and Security Agency Druva has raised its highest funding of US$ 25 Million in Series C. While earlier investors Sequoia Capital and Nexus Venture Partners chose to invest in a follow–on manner, a new investor, Tenaya Capital has come forth.
The new funding will augment continued R&D, expand global sales and marketing, and will prove vital in the expansion of Druva’s cloud infrastructure to support new deployments by large enterprises that require the elasticity, multi-tenancy and flexibility of the cloud along with the security, compliance and cost advantages of hosting IT solutions.
The inSync platform developed by the company addresses the rising concerns about protection of enterprise data. The company has been able to develop products that claim to offer robust security and data retrieval capabilities against large–scale and diverse mobilization, free online file sharing services, changing work habits, and the consumerization of IT products and services.
Essentially, Druv offers an easy to deploy and use, yet complex network, fortified by multi–level firewalls of varying intensities. Jaspreet Singh, Druva Founder and CEO tried to explain the basic layout, “With the proliferation of mobile devices and the loss of security and accountability in today’s ‘post-PC’ world, every organization today is facing the need to change the way they protect and govern data.”
This funding round has been preceded by two initial rounds of funding from Sequoia Capital and Nexus Venture Partners. This round clearly shows the need and importance of the company, stressed the CEO, “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.”
The Post–PC Era which Jaspreet mentioned has been the primary cause of data vulnerability as enterprises cannot fully ensure data integrity in the personal devices of its employees. Fortunately, multiple companies have realized the necessity and are coming up with products that allow a secure working environment even on such personal devices. With 2100 clients Druv claims to effectively protect 1.7 Million endpoints. Let’s see how the Indian Company expands post this financial infusion.