Cybersecurity Firm Seeing Green After Large Back-to-Back Rounds of Funding
By 2019 the cybersecurity market is expected to be worth $155.74 billion.
As the number of Internet connected devices continues to grow so will the need for protection. This creates an immense opportunity for cybersecurity agencies to stretch their arms and increase their customer base as enterprises look to minimize risk through maximizing protection.
Druva, a supplier of data protection solutions for enterprises, has announced the closing of a Series D funding round which brought in $25 million.
This latest round of funding came after a Series C round of funding in which the company also brought in $25 million. Both rounds were led by the same group of investors: Sequoia Capital, Nexus Venture Partners and Tenaya Capital.
According to Druva, the new funding will be used expand upon the features available in their inSync platform, diversify their portfolio as well as to further its international reach.
"Our business is now at an inflection point,” said Jaspreet Singh, Druva founder and CEO. “We have established the value of our inSync platform, gone beyond data protection with the addition of critical governance capabilities, begun building an ecosystem with partnerships that will leverage inSync-captured data to meet a range of needs, and launched an initiative to expand our offerings for protecting data at the edge of the enterprise.”