Cloud data protection platform OwnBackup announced on Tuesday 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.
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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 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."
