OwnBackup Secures $50 Million in Funding to Help Protect Critical SaaS Data
ENGLEWOOD CLIFFS, N.J., July 07, 2020 (GLOBE NEWSWIRE) -- OwnBackup, a leading cloud-to-cloud business continuity platform, today announced $50 million in new funding led by Insight Partners, with participation from Salesforce Ventures and Vertex Ventures less than one year after raising Series C financing. Existing investor Innovation Endeavors also participated in the follow-on round, which brings the company’s total funding to over $100 million. The additional capital will be used to accelerate product development and scale go-to-market functions in support of OwnBackup’s vision to give enterprise CIOs one pane of glass where they can backup, protect, and analyze their mission-critical and increasingly complex software-as-a-service (SaaS) data.
“This oversubscribed round signifies investors’ recognition of our early dominance in a huge addressable market,” said Sam Gutmann, CEO of OwnBackup. “In today’s uncertain climate, more CIOs and CEOs realize the importance of building greater resiliency into their business. We’re committed to keeping their operations running around the clock with enterprise-grade, set-it-and-forget-it monitoring and recovery—both during the COVID-19 pandemic and over the long term.”
“OwnBackup provides automated and fast data protection so customers can feel confident that their business data is always protected,” said Matt Garratt, managing partner at Salesforce Ventures. “OwnBackup has been a long standing Salesforce partner on AppExchange, and we are pleased to continue to support their growth with this new investment to drive further innovation for customers."
Recent highlights of OwnBackup’s market leadership
- Achieved approximately 100 percent year-over-year revenue growth for two years running
- Earned 98 percent five-star reviews in the Salesforce AppExchange
- Supports over 2,000 customers—such as AECOM, athenahealth, Michigan State University, and Navy Federal Credit Union—securing 60 trillion SaaS and PaaS records
- Employs more than 220 people globally, with headcount growth of 200% over the past two years
- Recently expanded the company’s leadership bench with the addition of Salesforce veteran Jamie Grenney as chief marketing officer, and data security expert Roi Dover as vice president of research and development
- Ranked twenty-fifth on the 2020 Financial Times Americas’ Fastest Growing Companies list and number 102 on the 2019 Inc. 5000
“OwnBackup is the business continuity partner of choice for forward-thinking enterprise CIOs, and has achieved incredible growth and customer success in the five years since it was founded,” said Nikitas Koutoupes, managing director at Insight Partners. “With the backup and recovery market expected to surpass $18 billion by 20261, there’s massive untapped potential for OwnBackup’s stellar team and proven solutions. We believe demand for the company’s products will continue to soar, both within the Salesforce ecosystem and beyond.”
Enabling holistic oversight and continuity for all mission-critical SaaS data
OwnBackup’s award-winning data recovery solutions make it painless to backup data, metadata, and attachments stored in Salesforce. The platform’s real-time monitoring and alerts help enterprises recover faster from data loss, ensure business continuity, speed up operations, and meet compliance mandates. During the COVID-19 crisis, governments and businesses need to manage potentially life-saving data sets—including contact tracing, health checks, testing, medical research, and pandemic response details—all of which require maximum protection. With the new funds raised today, OwnBackup plans to meet this demand and expand its backup, recovery, archiving, and sandbox seeding services into a unified solution for all corporate data across a variety of SaaS apps.
“OwnBackup is a lifesaver, because not only does it give us peace-of-mind with a single pane of glass for our valuable SaaS data, it lets our team jump faster into new projects, since we know we can always roll back if needed,” said Matthew McGarry, senior principal Salesforce technologist at Medtronic. “As we become more sophisticated in how we leverage and build out our Salesforce environments, OwnBackup ensures that we minimize the risk of any data loss, reduce our storage costs, eliminate regulatory compliance headaches, and have the tools to properly govern all of our crucial enterprise data.”
For more details on OwnBackup’s products, click here or read its five-star reviews on Salesforce AppExchange and G2 Crowd.
OwnBackup, the leading cloud-to-cloud backup and restore vendor, provides secure, automated, daily backups of SaaS and PaaS data, as well as sophisticated data compare and restore tools for disaster recovery. Helping more than 2,000 businesses worldwide protect critical cloud data, OwnBackup covers data loss and corruption caused by human errors, malicious intent, integration errors and rogue applications. Built for security and privacy, OwnBackup exceeds the General Data Protection Regulation (GDPR) requirements for backed-up data. Co-founded by seasoned data-recovery, data-protection and information-security experts, OwnBackup is a top-rated backup and restore ISV on Salesforce AppExchange and was awarded the Salesforce Appy Award in 2018. OwnBackup ranks number 25 on the 2020 Financial Times Americas’ Fastest Growing Companies list and number 102 on the 2019 Inc. 5000 list. Headquartered in Englewood Cliffs, N.J., with R&D, support and other functions in Tel Aviv and London, OwnBackup is the vendor of choice for some of the world’s largest users of SaaS applications.
For more information, visit ownbackup.com.
1 Stratistics MRC, “Data Backup and Recovery - Global Market Outlook,” March 2018