India-born Druva raises $147M at $2B valuation

PUNE: Cloud data protection and management company Druva on Monday announced it has raised $147 million led by CDPQ, a global investment group, taking its valuation to $2 billion. The latest funding also has a significant investment by New York-based Neuberger Berman.

Founded by CEO Jaspreet Singh and Milind Borate (co-founder and CTO) in Pune in 2008, the entire R&D work at the company is being done from India.

Druva which has now moved its headquarters to Sunnyvale, California, said in a statement that the new investment will fuel continued expansion of its cloud platform to meet today's unprecedented needs, and extend the company's industry leadership as it defines tomorrow's data protection.

"The unprecedented events of 2020 have ushered in a generational cloud transformation for businesses, and data's increasing value is at the very heart of it," said Singh.

"Druva pioneered the cloud data protection category almost a decade ago and has led the way in defining the architecture, business model, and user experience our customers now expect," he added.

The round also included participation from existing investors Viking Global Investors and Atreides Management. (IANS)

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