Acrew Capital backs HYCU in $53m Series B

HYCU, a company that helps organisations protect their data, has raised $53m from a Series B funding round.

The round was headed by Acrew Capital and saw participation from investors including Atlassian Ventures and Cisco Investments. Following this round, HYCU has raised a total of $140.5m since inception.

Established in 2018, HYCU claims it is the fastest-growing leader in the multi-cloud backup and recovery as a service industry. By bringing SaaS-based data backup to both on-premises and cloud-native environments, the company provides data protection, migration and disaster recovery to more than 2,000 companies worldwide.

HYCU said it will use the new funding to invest in go-to-market initiatives to meet increasing demand for its products. It will also launch a new developer-led SaaS service. The company also plans to expand widen alliances, product marketing and customer success teams.

Acrew Capital co-founder Theresia Gouw said, ?Amidst the current economic climate, the explosion of data assets and the high value of data, weve seen HYCU rise as the key way of simplifying the multi-cloud data protection experience including a powerful way to address ransomware protection and recovery.p>

Identity management platform?ZITADEL?has collected $2.5m in its seed funding round, which was led by Nexus Venture Partners.

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