Sutter Hill Ventures Leads Oversubscribed Round Joined by New Investor Altimeter Capital and Existing Investor Index Ventures

SANTA CLARA, CA – Nov. 19, 2019 — /BackupReview.info/ — Clumio, innovators of authentic SaaS for enterprise backup, today announced $135 million in series C funding on the heels of its August launch from stealth. In a very short time, the company has realized a strong market response and rapid enterprise customer adoption for its secure backup as a service highlighting the importance of the data protection problem that Clumio set out to solve. This momentum attracted the new round of funding that will enable Clumio to accelerate its vision to deliver a globally consolidated data protection service in and for the public cloud.

Series C is led by Mike Speiser, managing director of Sutter Hill Ventures and new investor Altimeter Capital – a global investment firm notable for funding Okta, Twilio, and Snowflake among other SaaS companies. Index Ventures, an existing investor, is also a participant in the round. This more than triples Clumio’s funding to date for a total of $186M through three rounds.

“Enterprise IT can no longer afford the time, complexity and expense of building and managing data protection solutions on-prem or in the cloud,” said Poojan Kumar, Clumio CEO and co-founder. “Unlike legacy backup vendors, Clumio SaaS is born in the cloud. This round of investment allows us to push that advantage as we accelerate our development and go to market strategy while continuing to meet customer requirements for backup, regardless of where the data is.”

IDC estimates the global market for SaaS applications revenues is expected to increase from approximately $100 billion in 2018 to more than $185 billion by 20221. Clumio is uniquely positioned to take advantage of this trend, giving enterprises a fast and effective way to make progress against organizational mandates to move workloads to the cloud or minimize the amount of time they spend on applications and operations that are not core to their businesses. According to IDC, the Data Protection as a Service market – which includes spend on backup, and disaster recovery cloud services – will grow to over $10 billion by 20222. Enterprises have already moved CRM, IT service management, HR and data warehouse workloads to the cloud. Clumio’s mission is to do the same for this large market.

“Similar to Snowflake disrupting the data warehousing market by leveraging the scale, elasticity and economics of the public cloud, Clumio is building a globally consolidated data protection service the right way,” said Mike Speiser, Managing Director, Sutter Hill Ventures. “Harnessing the full power of the public cloud, they are reimagining the backup experience for the enterprise paying particular attention to security, predictable costs and simplicity for their customers.”

This new funding will help Clumio execute in the following areas:

  • Accelerate the growth of its engineering team, both at the company’s headquarters in Santa Clara, CA and in its new development center in Bangalore, India
  • Expand go to market and service operations in the U.S.
  • Add more support for its 100% channel strategy with additional partner resources and programs and build upon momentum in technology partner programs with AWS, VMware and others
  • Introduce support for new workloads as Clumio continues to execute against its vision for a globally consolidated data protection service

Clumio is a secure, backup as a service that consolidates the protection of an enterprise data center and any remote sites with no hardware or software to size, configure, manage – or even buy at all. As enterprises move aggressively to cloud, they can use Clumio to protect workloads like VMware Cloud on AWS and native AWS services. Authentic SaaS protects data regardless of where it resides and delivers critical benefits to the enterprise:

Today, Clumio also announced a secure SaaS Backup for AWS that eclipses snapshot only protection strategies to reduce risk of data loss, increase security and lower retention costs. Full press release here

Learn more about Clumio and #AWSBackup today, November 19th, at 9AM PST when Clumio executives and technical leaders join industry analysts and influencers on a CrowdChat hosted by TheCube.

Resources

  • #AWSbackup Crowdchat
  • Chadd Kenney’s Announcement Blog Post
  • Cloud Data Protection: Avoiding Cloud Data Loss
  • Read About the Product and Benefits Enterprise Backup as a Service for AWS Native Services
  • Learn How Clumio is Reimagining Enterprise Backup
  • Read our Blogs
  • Follow us on Twitter

About Clumio
Clumio is the innovator of authentic SaaS for enterprise backup. Using this secure service, organizations eliminate hardware and software for on-premise backup and avoid the complexity and cost of running third-party backup software in the cloud. As enterprises move aggressively to cloud, they use Clumio to protect workloads like VMware Cloud on AWS and native AWS services. Born in the public cloud, Clumio can leverage the most modern cloud services to ensure it meets the current and future backup requirements of the most demanding enterprises. For more information, visit: www.clumio.com

Contact:
Waters Communications for Clumio
clumio@waterscomms.com
Alison Guzzio
484-459-3243

Source: Clumio

 

 

 

General Tags: online file storage, data storage, online backup providers directory, data security, backing up online, online backup services, online data backup, online backup reviews, top rated online backups, online backup news, online file backup, online backup companies, SaaS, compare online backups, online backup, CEO interviews, cloud computing, software as a service

Like us on Facebook




===========================
Do you like this post? Subscribe to our RSS feed ===========================



Share/Save/Bookmark

Related posts:

  1. Rubrik Raises $180 Million Series D at $1.3 Billion Valuation to Further Accelerate Global Adoption of Cloud Data Management
  2. Clumio Announces $51M in Funding and Unveils Authentic SaaS for Enterprise Backup
  3. Clumio Announces Secure SaaS Backup for AWS
  4. Clumio Achieves ‘Advanced Technology Partner’ Status in the Amazon Web Services Partner Network
  5. Igneous Secures $25 Million in Series-C Funding Led by WestRiver Group to Accelerate Unstructured Data Management for Global Data-Centric Enterprises
  6. CloudLock Raises $16.5 Million Series C Round Led by Bessemer Venture Capital to Accelerate its Disruption of Enterprise Cloud Security
  7. City of Davenport Selects Clumio
  8. Zetron Selects Clumio Backup As a Service
  9. Rubrik Raises $261 Million Series E Funding at $3.3 Billion Valuation to Expand into New Data Management Markets
  10. Avere Systems Cracks the Code for Hybrid Cloud Storage; Raises $20 Million to Accelerate Growth

Tags: