OwnBackup Approaches $3.35 Billion Valuation with Series E Investment; Expands its Leading Cloud-to-Cloud Data Protection to Microsoft
OwnBackup, a leading cloud data protection platform, today announced a Series E investment of $240 million co-led by Alkeon Capital and B Capital Group, including a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global. Existing investors Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures also participated. The company has cumulatively raised nearly $500 million, resulting in a $2 billion valuation increase in six months. OwnBackup also announced plans to expand its comprehensive backup and recovery solutions across other cloud platforms later this year, beginning with Microsoft.
OwnBackup's continued focus on empowering customers to own and protect their data on any cloud platform began with Salesforce's vast customer ecosystem. The additional funding bolsters OwnBackup's pattern of success in creating cloud data protection and management products that people need and love. OwnBackup currently provides cloud data protection, sandbox seeding and data archiving solutions for nearly 4,000 organizations worldwide.
“Our commitment to protecting our customers’ data and providing solutions that enable precise, rapid recovery continues to grow. While the cloud is crucial to doing business, the mass adoption of SaaS has resulted in a huge amount of data, and our work with Salesforce, Microsoft and other critical SaaS ecosystems enables companies to thrive in today’s digitally driven world,” said Sam Gutmann, CEO of OwnBackup. “The story of every business is written with data, and this latest round of funding will support our ongoing vision to empower our customers to own and protect their data on any cloud platform.”
With this latest funding round, OwnBackup is poised to extend its proven cloud data protection expertise to Dynamics 365 later this year. OwnBackup will help Dynamics 365 customers meet complex regulatory requirements and eliminate data disruptions due to user and integration errors. The offering will allow companies to maintain complete ownership of their data backups, rapidly restore lost or corrupted data, and drive greater organizational adoption of Microsoft Azure and Dynamics 365.
“We’re pleased to partner with OwnBackup and give Dynamics 365 customers an additional layer of protection for their data,” said David Totten, Chief Technology Officer at Microsoft. “By enabling organizations to automate the backup process and restore the precise data they need in minutes, OwnBackup’s solutions will help Dynamics 365 customers run more business-critical workloads while eliminating the risk of data loss.”
Along with Salesforce and Microsoft, OwnBackup is actively exploring other cloud providers as potential partners to deliver on its promise for customers to own and protect their mission-critical data.
“In the last 18 months, data has really taken center-stage as the virtual workplace expands,” said Abhi Arun, Managing Partner, Alkeon Capital. “Executives are focused on data solutions and their workforce’s ability to access and secure it when and where they need it. Likewise, customers demand seamless transfer and control of their data on a platform independent of their SaaS provider, while maintaining the highest levels of security for their end-users. That’s why we are thrilled to collaborate with and support OwnBackup’s leadership team as they continue to deliver incredible customer value in the Salesforce ecosystem and beyond.”
Nearly 4,000 customers trust OwnBackup across every industry, such as AECOM, Aston Martin, Ciena, Delivery Hero, Guidewire Software, the Make-A-Wish Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development Board, and the University of Miami.
OwnBackup, the leading cloud-to-cloud data protection platform, provides secure, automated, daily backups and rapid data restore tools of SaaS and PaaS data. Helping nearly 4,000 businesses worldwide safeguard critical cloud data, OwnBackup covers data loss and corruption caused by human errors, malicious intent, integration errors, and rogue applications.
Co-founded by seasoned data-recovery, data-protection, and information-security experts, OwnBackup is a backup and restore independent software vendor (ISV) on the Salesforce AppExchange. Headquartered in Englewood Cliffs, New Jersey, with research and development (R&D), support, and other functions in Israel, EMEA and APAC, OwnBackup is the partner of choice for some of the world’s largest users of SaaS applications.
About Alkeon Capital
Alkeon Capital is a global investment firm that invests in private and public growth and technology companies and category definers. With more than two decades of experience focusing on People and Innovation, Alkeon works closely with disruptive private companies to help them expand their addressable market, scale efficiently, and seamlessly crossover to the public markets. Alkeon's goal is to be a long-term and accretive partner to all its portfolio companies along their private and public journey.
About B Capital
B Capital Group is a multi-stage, international investment firm founded in 2015 by Raj Ganguly, Eduardo Saverin, Howard Morgan, and Kabir Narang. B Capital invests in companies transforming large traditional industries across borders and geographies. Leveraging a global team of seasoned experts and a strategic partnership with BCG, B Capital helps founders navigate business challenges, raise capital, and attract talented leadership at every stage of the startup lifecycle. B Capital invests in enterprise technology (e.g., consumer enablement technologies, enterprise application software, infrastructure, security, AI/ML), fintech and insurtech, industrial and transportation, and healthcare tech and Bio IT. The B Capital portfolio includes global, industry-leading companies like Aetion, Atomwise, Bounce, Centivo, Carro, Dailyhunt, DataRobot, Evidation Health, FalconX, Icertis, Innovaccer, Kopi Kenangan, Ninja Van, Notable Labs, Payfazz, Synack, Ula, and YaloChat, XingYun. For more information, visit http://www.bcapgroup.com/.
About Blackrock Private Equity Partners
As private equity moves from alternative to essential, investors are seeking to build specific private equity portfolios catering to their individual needs. BlackRock Private Equity Partners has a history of leading the evolution of our industry to better serve our clients and has built a private equity platform that continues in that tradition. Our strategies span the private equity toolkit, offering investors exposure through direct, primary, secondary and co-investment strategies and draw on a common set of institutional advantages—our global scale and sourcing network, investment transaction experience and access to insights amplified with analytics and technology—to deliver top quartile performance through an entire investment cycle. On behalf of, and in partnership with our clients, BlackRock Private Equity Partners builds diversified portfolios of investments across the spectrum of private equity, including leveraged buyouts, venture capital, growth equity and distressed/opportunistic strategies. BlackRock Private Equity Partners has over 160 dedicated professionals in 5 global offices and manages US$38.9 billion in client commitments as of June 30, 2021.
About Tiger Global Management
Tiger Global Management is a leading global technology investment firm with over $70 billion under management. The firm focuses on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, UiPath, Stripe, Databricks, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Peloton, Attentive, LinkedIn, Flipkart, and Toast.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
About Salesforce Ventures
Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Salesforce Ventures, the global investment arm of Salesforce, invests in the next generation of enterprise technology that extends the power of the Salesforce Platform. Salesforce Ventures is building the world's largest ecosystem of enterprise cloud companies and extending that technology to customers. Portfolio companies receive funding, strategic advisory and operating support, and can easily join Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 375 companies, including DocuSign, GoCardless, Guild Education, nCino, Twilio, Zoom and others across 22 countries since 2009. For more information, please visit www.salesforce.com/ventures.
About Sapphire Ventures
Sapphire Ventures is a leading venture capital firm that partners with visionary teams and venture funds to build companies of consequence. For nearly two decades, Sapphire has been investing capital, resources and expertise in innovative startups and technology-focused venture funds around the world. With more than $6.8B in AUM across Sapphire Ventures, Sapphire Partners and Sapphire Sport, and with team members in Austin, London, Palo Alto and San Francisco, Sapphire is well-positioned to help scale companies and venture funds, elevating them to become global category leaders. To learn more about Sapphire Ventures, visit: https://sapphireventures.com/.
About Vertex Ventures
With over $1B in AUM, Vertex Ventures is a leading Israeli venture capital firm. Established in 1997, Vertex has invested in more than 100 companies across 5 funds and already exited from over 40 companies. The fund is an early investor in 3 of the top 10 largest VC stories out of Israel in the last decade: Waze (Acquired by Google for $1.3bn), CyberArk (IPO, $2.5bn+) and SolarEdge (IPO, $1.5bn+). Investments typically range from seed to early-stage rounds with focus on deep technology startups across key sectors including Enterprise Software, Cybersecurity, Automotive, Cloud Infrastructure, Big Data & Analytics, Enterprise SaaS, AgriTech, Digital Health, Industry 4.0 and Fintech.
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