On Tuesday, cloud data management and protection firm Druva has announced that the firm has raised equity funding of $80 million which brings the total corpus raised to around $200 million in the latest round of funding. Investors like Sequoia Capital India, Nexus Ventures Partners, Tenaya Capital and others participated in the funding round led by Riverwood Capital.
The firm plans to use the raised capital for research and development process, expansion of operation internationally, and bring modify industry by better protection, management and use of data by enterprises.
With the growth of data protection market in India, Druvas growth is also enhancing. It is an estimate that the market would reach $28 billion in 2022 and this protection system has been adopted by 5000 top firms. These statistics indicate that the need for the same will grow which will help Druva to grow faster.
Druva has managed to provide its services to more than 4000 firms already. The firm also announced in May that it has 300% year on year growth in infrastructure data protection revenue.