Odaseva closes its Series B round on $25m

Odaseva, a enterprise cloud trust platform for businesses, has collected $25m in its Series B round, which will support growth in North America.

Eight Road Ventures led the round, with commitments also coming from F-Prime Capital and previous backers Partech, Salesforce Ventures, and Serena.

With the funding in its pocket, Odaseva plans to build momentum in North America and internationally. The capital will help with the development of its technology, hiring staff for its San Francisco, Sydney and Paris offices, and inverse investment into its user and partner ecosystem.

Founded in 2012, the company helps large-scale Salesforce customers to improve their data protection. Its technology enables teams to back up and restore data, meet regulations, and protect data.

Odaseva CEO Sovan Bin said, “It’s been more than 20 years, and cloud adoption is still in its early days.

“Providers have made major strides in building trust with enterprise customers, and Odaseva is excited to be part of that transformation. Now is the time for us to expand our vision as we enable large-scale customers to accelerate their shift to the cloud.”

Over the past two years, Odaseva has doubled its headcount and added several new clients including Dropbox, Boston Scientific, and Manulife. It has also has 100% revenue growth for three consecutive years.

Partech partner Reza Malekzadeh said, “The Odaseva team started their journey focused on a major problem for large-scale Salesforce customers, helping them through their move to the cloud.

“Through the journey they demonstrated their technical leadership and incredible ability to execute by building on their vision beyond that initial focus market. We are very excited to see this new milestone on their journey to becoming a critical data platform for the cloud.”

With the close of the round, the company has raised a total of $40m in funding.

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