OwnBackup has closed a $15.5 million round of financing. The investment was led by Vertex Ventures alongside existing investors Insight Venture Partners. Other previous investors Innovation Endeavors, Oryzn Capital, and Salesforce Ventures also participated in the round, the company said.
In a climate where more companies are embracing Software as a Service (SaaS) and Platform as a Service (PaaS) environments, security and compliance challenges are increasing. OwnBackup wants to simplify data protection across such platforms. The Salesforce-partnered firm says it will use the influx to help accelerate its global growth, R&D, and talent acquisition across its United States and Israel-based offices.
“While companies often assume that the SaaS and PaaS vendors are responsible for the data, the company owning the data is still responsible when data is corrupted by accident, malicious intent or through bad code and weak integrations,” said OwnBackup CEO Sam Gutmann.
“With the support of our investors," he added, "we will continue to provide the ultimate in independent data protection peace of mind -- ensuring that companies have the same data protection in their cloud environments as their on-premise applications. We look forward to building on our successes to date as we use the latest funding to break new ground in the data protection space and fill the security void that many companies were not even aware existed.”
Gutmann is quite familiar with the cloud backup market. He previously co-launched Intronis, a cloud backup firm that Barracuda Networks acquired in September 2015.
In contrast, OwnBackup’s cloud-to-cloud backup, recovery, and replication technology is built on the Salesforce Platform and available on the Salesforce AppExchange. The company also provides backup services for Slack and ServiceNow. Last year the company diversified its portfolio with the launch of a Sandbox Seeding solution for Salesforce and expanded its replication and data integrity capabilities.
Insight Venture Partners, by the way, also owns stakes in Unitrends and Spanning Cloud Apps -- both of which have growing MSP-focused backup businesses, along with relationships with Kaseya.
Vertex Ventures’ Aviad Ariel will join Nicolas Wittenborn of Insight Venture Partners and Ziv Kop of Innovation Endeavors on the OwnBackup Board.
Insight Venture Partners, by the way, also owns stakes in Unitrends and Spanning Cloud Apps -- both of which have growing MSP-focused backup businesses, along with relationships with Kaseya.
