Druva gets $25 million in Series D, plans expansion to Asia and Europe
Druva announced that it received $25 million in Series D funding, led by Sequioa Capital and participated by Nexus Venture Partners and Tenaya Capital. The company got $5 million in April 2010, $12 million in August 2011, and another $25 million in October 2013, bringing the total to $67 million after the recent investment. The company reportedly plans to use the latest funding to develop new ideas as well as to expand in Asia and Europe.
Druva offers a cloud backup tool, with added data protection and governance services on mobile devices. Furthermore, it also offers users mobile device recovery in case a device gets lost.
The company claims, they offer a cloud storage alternative compared to traditional storage vendors. The different approach reportedly garnered them the attention of clients such as Dell, Hitach, NASA and Pfizer to name a few.
According to CEO Jaspreet Singh, they were not really looking for more money when Sequioa approached them and offered them additional funding but, "It's good to raise money when people want to give you money."