Security Experts:

OwnBackup Achieves 'Unicorn' Status With $167.5 Million Funding Round

Cloud data protection provider OwnBackup has completed a $167.5 million Series D funding round, which helped it reach “unicorn” status, at a valuation close to $1.4 billion. To date, the company has raised a total of more than $267.5 million in funding.

Founded in 2015 and headquartered in Englewood Cliffs, New Jersey, the company provides customers with a cloud-to-cloud backup and restore platform to automatically backup their SaaS and PaaS data.

The new funds, the company says, will help it continue to invest in global expansion and in extending its platform.

OwnBackup has approximately 3,000 customers, with more than 400 added over the past quarter alone. The company serves organizations such as Aston Martin, Guidewire Software, Medtronic, Navy Federal Credit Union, the University of Miami, and Zoom.

The new financing round was co-led by Insight Partners, Salesforce Ventures, and Sapphire Ventures, but also saw participation from existing investors Innovation Endeavors, Oryzn Capital, and Vertex Ventures.

“At OwnBackup, our belief more than ever is that no company operating in the cloud should ever lose data, especially during tumultuous times like these. We look forward to advancing this mission even further with new product developments in the months to come,” Sam Gutmann, CEO of OwnBackup, said.

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