Just 6 months after raising $50 million, Israeli startup OwnBackup, an enterprise cloud-to-cloud backup platform, secured $167.5 million in Series D funding. The investment was led by Salesforce, Insight Partners, and Sapphire Ventures, with participation from existing investors Innovation Endeavors, Vertex Ventures, and Oryzn Capital.
The company’s post-money valuation landed at $1,4 billion, meaning that OwnBackup is the fourth Israeli startup to join the prestigious Unicorn club in the month of January.
6 months between rounds, and the fundraising game is on high
OwnBackup’s cloud-to-cloud backup and recovery services provide daily, automated, and secured backups for data from SaaS and PaaS platforms, such as Slack, Salesforce, and ServiceNow. The company’s system currently aids over 1,000 multinational companies to secure critical data stored on the cloud - with the goal of preventing data corruption and loss, ensuring business continuity, while reducing disruption to operations.
“Since day one, we’ve believed that no company operating in the cloud should ever lose data. We are laser-focused on achieving our vision of a single pane of glass for companies to manage, backup, and secure all of their SaaS data,” said Sam Gutmann, CEO of OwnBackup.
The company deploys a comprehensive toolkit of solutions, including tools that help compare and recover data for rehabilitation purposes. The goal behind it is to cover data loss or corruption, whether from human error, malicious applications, or integration setbacks. This is all done while emphasizing security, privacy, and GDPR regulations. Furthermore, the system allows to automatic archive of unused data - keeping it complete, accessible, and secure.
“As cloud adoption and digital transformation accelerate, the data produced by and stored in SaaS applications is growing even faster. Executives recognize that their approach to cloud data management and security must evolve and adapt to a cloud-native paradigm. Our platform is purpose-built for cloud-to-cloud backup and protection and this latest round of funding is the next step in our mission to help our customers truly own their SaaS data," added Gutmann.
OwnBackup was founded in 2015 by Eran Cohen, CTO Ariel Barckman, and EVP of Sales Ori Yankelev. Currently, the company is helmed by Sam Gutmann as CEO. OwnBackup is headquartered in Fort Lee, New Jersey, has its R&D center in Tel Aviv, in addition to another office in London. The company will use the new capital to further advance its software capabilities, and has raised $267.5 million to date.