Israeli startup OwnBackup, which develops a backup and recovery platform for cloud data, announces an expansion on the company’s funding round with a $50 million investment led by Insight Partners and Vertex, with the startup’s existing investors Salesforce Ventures and Innovation Endeavors also participating. This injection of capital is added to the $23 million funding round from last year, bringing the company a total of more than $100 million raised up-to-date.
Doubled our last funding round
OwnBackup’s cloud to cloud recovery and backup platform provides daily, automated and secure backups for SaaS data and PaaS data from the likes of Slack, SalesForce, and ServiceNow. The company that runs SalesForce’s cloud data recovery and backup noted that they had added an additional 250 customers, bringing its total up to 2000 customers from around the world that OwnBackup’s platform assists in managing all the critical data from the organization - aiming to prevent loss of data and assure business as usual.
The Israeli startup wants to take out the element of human error when dealing with stored data in the cloud, the company also provides various tools to compare and recover data that could have been tarnished by the same human involvement. The system is able to combat human mistakes while enforcing security, privacy, and keeping to GDPR regulations. It also important to note that the platform covers all aspects of cloud data, as mentioned above, utilizing its tools to automate the transfer of unused data to the archive.
The company’s CTO, Ariel Berkman, told Geektime that the COVID-19 pandemic had impacted workflow, further explaining that “the Coronavirus outbreak and total market uncertainty has definitely made current and potential customers think twice about where they’re investing funds, however, it’s at times like these when big organizations realize the importance of operational fluidity regarding their critical data back-and-recovery systems.”
Berkman also mentioned the funding round, saying “We are happy to expand our R&D team, who are facing difficult software challenges as a part of our incredibly speedy growth.” He did decline to give us the company evaluation based on the funding round, but did say that “the evaluation has more than doubled since the last funding grab.”
OwnBackup was founded in 2015 by Eran Cohen, Ariel Berkman, Ori Yankelev, and CEO Sam Gutman. The company headquarters are based out of New Jersey, with the R&D center in Tel Aviv, and another office based in London. The Israeli startup intends to recruit more talent but is still keeping an open eye on the global crisis before shedding out money left and right.