Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Symantec Leads $9 Million Investment in Backupify

Backupify, a provider of online backup services for cloud application data, today announced that it has secured $9 million in series C funding that will be used to accelerate further development and adoption of its backup tools.

Backupify, a provider of online backup services for cloud application data, today announced that it has secured $9 million in series C funding that will be used to accelerate further development and adoption of its backup tools.

Backupify LogoThe funding was led by Symantec, with existing investors Avalon Ventures, General Catalyst Partners, and Lowercase Captial also taking part. Combined with past efforts, the company has raised a total of $19.5 million.

Simply put, Backupify makes backups of all the cloud data. Founded three years ago and based in Cambridge, Mass., the company takes snapshots of all the data stored in various clud applications, including Google Apps, Salesforce, Flickr, Twitter, Facebook, and Blogger. Customers can keep the data stored in a Backupify-owned cloud, or download them for local storage.

“Every day the CIOs and I.T. leaders we talk to are asking us to support more of the cloud-based applications they use to run their businesses,” said Rob May, CEO of Backupify.

As more data is stored in cloud-based services, threats to that data increases, whether it’s a result of user error, corruption, or hacking, said Anthony Woolf, senior director of corporate development at Symantec. Maintaining a second copy of cloud-based data helps mitigate those risks, Woolf said.

The company claims to protect data for more than 5,000 businesses and backing up more than 300 terabytes of data, including more than two billion emails. The new funding would allow the company to add more features and products to attract new customers and help businesses “move to the cloud with confidence,” May said. The company is seeing demand for adding other cloud platforms and advanced management controls that would allow the customers more control over the data.

Related ReadingBackupify – Securely Backing up the Cloud from the Inside Out

Written By

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Cybersecurity Funding

Forward Networks, a company that provides network security and reliability solutions, has raised $50 million from several investors.

Application Security

Many developers and security people admit to having experienced a breach effected through compromised API credentials.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Funding/M&A

Thoma Bravo will spend $1.3 billion to acquire Canadian software firm Magnet Forensics, expanding a push into the lucrative cybersecurity business.