Fort Lee, New Jersey-based cloud data protection company OwnBackup on Thursday announced that it raised $23.25 million in a Series C funding round.
The latest funding, which brings the total raised by the firm to nearly $50 million, was led by Insight Venture Partners and Vertex Ventures, with participation from existing investors Innovation Endeavors, Oryzn Capital and Salesforce Ventures.
OwnBackup says it will use the investment to build on its momentum in the Salesforce ecosystem, expand its product offering, double its engineering and European teams, and expand its partner network.
The company provides secure and automated daily backups for Saas and PaaS data, along with advanced comparison and restoration tools designed for disaster recovery. OwnBackup solutions cover data loss and data corruption incidents caused by malicious intent, human error, rogue applications, and integration errors. The firm says its services are used by over 1,000 businesses worldwide.
Along with the latest funding, OwnBackup announced on Thursday the general availability of OwnBackup Archiver, an archiving tool designed to address regulatory compliance needs.
The company also announced the expansion of its international leadership team. Gareth Morris has been appointed VP of Sales for EMEA, and Nikitas Koutoupes of Insight Venture Partners, Harpinder Singh of Innovation Endeavors, and Bob DeSantis of Conga have joined its board of directors.
Related: Digital Guardian Announces $30 Million Financing Round
Related: Data Protection Firm Cognigo Raises $8.5 Million
Related: ALTR Emerges From Stealth With Blockchain-Based Data Security Solution
Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.
More from Eduard Kovacs
- Industry Reactions to Hive Ransomware Takedown: Feedback Friday
- US Reiterates $10 Million Reward Offer After Disruption of Hive Ransomware
- Hive Ransomware Operation Shut Down by Law Enforcement
- UK Gov Warns of Phishing Attacks Launched by Iranian, Russian Cyberspies
- Dozens of Cybersecurity Companies Announced Layoffs in Past Year
- Security Update for Chrome 109 Patches 6 Vulnerabilities
- New Open Source OT Security Tool Helps Address Impact of Upcoming Microsoft Patch
- Forward Networks Raises $50 Million in Series D Funding
Latest News
- Critical Vulnerability Impacts Over 120 Lexmark Printers
- BIND Updates Patch High-Severity, Remotely Exploitable DoS Flaws
- Industry Reactions to Hive Ransomware Takedown: Feedback Friday
- Microsoft Urges Customers to Patch Exchange Servers
- Iranian APT Leaks Data From Saudi Arabia Government Under New Persona
- US Reiterates $10 Million Reward Offer After Disruption of Hive Ransomware
- Cyberattacks Target Websites of German Airports, Admin
- US Infiltrates Big Ransomware Gang: ‘We Hacked the Hackers’
