Druva collects $130m in funding round from Viking Global

Cloud data protection and management company Druva has collected $130m in a new funding round.

US-based hedge fund Viking Global Investors led the investment, with participation also coming from Riverwood Capital, Tenaya Capital, and Nexus Venture Partners. Contributions also came from funds advised by Neuberger Berman and Atreides Management.

Proceeds from the round will accelerate the growth of the company and nurture the global expansion. Additionally, funds will be used to drive product innovation.

Druva is a cybersecurity platform which offers all-in-one backup, disaster recovery, archival and analytics solutions. Clients leveraging Druva can access ransomware protection, compliance monitoring and GDPR compliance.

The company has more than 4,000 enterprise customers including Flex, Hitachi, Live Nation, Marriot and Pfizer.

Druva founder and CEO Jaspreet Singh said, “The line between data and business is blurring. The data management market is forecasted to be worth $55 billion next year, yet the landscape is dominated by solutions that are 20 years old. Druva is disrupting the way enterprises protect and leverage their data with a modern, cloud-native SaaS platform.

“Today’s funding will help Druva to power data protection for the cloud era and accelerate our momentum to better serve the needs of enterprise customers.”

The new funding round has brought the company’s total capital raised to $328m.