Cloud-to-cloud business continuity platform, OwnBackup announced that the company has raised $50 million in Series D funding. The funding round was led by Insight Partners, with participation from Salesforce Ventures and Vertex Ventures. Existing investor Innovation Endeavors also participated in the follow-on round. The company also stated that the latest round brings the company’s total funding to over $100 million. According to the announcement, the additional capital will be used to accelerate product development and scale go-to-market functions.
Recent highlights of OwnBackup:
- 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
Sam Gutmann, CEO of OwnBackup said,
“This oversubscribed round signifies investors’ recognition of our early dominance in a huge addressable market. 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.”