OwnBackup makes it three new Israeli unicorns in a week, raises $167.5 million at $1.4 billion valuation
SaaS data protection company’s valuation continues to climb following five years of triple-digit growth
OwnBackup, a leading cloud data protection platform, announced on Thursday a Series D investment of $167.5 million co-led by Insight Partners, Salesforce Ventures, and Sapphire Ventures, with participation from existing investors Innovation Endeavors, Vertex Ventures, and Oryzn Capital. OwnBackup raised $50 million just six months ago and its cumulative funding now totals over $267.5 million. Founded in 2015 by Ariel Berkman, Daniel Gershuni, and Eran Cohen, the New Jersey-based company employs 250 people worldwide, 70 of them in its Israel development center.
“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. “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.”
Earlier this week both Melio and DriveNets also attained unicorn status.
OwnBackup’s cloud-to-cloud backup and restore platform provides secure, automated, daily backups of SaaS and PaaS data, as well as sophisticated data compare and restore tools for disaster recovery.
The additional funds will support ongoing investments in global expansion and extend OwnBackup’s platform to help companies big and small manage and secure their most mission-critical SaaS data.
Among the nearly 3,000 customers using OwnBackup products are the likes of AECOM, Aston Martin, Ciena, Delivery Hero, Guidewire Software, the Make-A-Wish Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development Board, and the University of Miami. In its most recent quarter, the company added over 400 new customers, including Alstom SA, Boston Dynamics, Crocs, USA Cycling, Zoom, and many others.
