Druva Achieves 500% Growth in Annual Recurring Revenue in Infrastructure Data Protection

Druva, Inc. announced record bookings and annual recurring revenue (ARR) performance for its infrastructure data protection business, an integrated service of its Cloud Platform, with more than 500% ARR growth over the last six months.

The company is in its 10th consecutive quarter of year-over-year growth, and was ranked as one of the fastest growing data protection providers in Deloitte’s 2017 Technology Fast 500. It drives this momentum through product innovation and is positioned to scale alongside industry demand, serving more than 4,000 global customers, including 10% of the world’s Fortune 500 companies.

“Today’s data is global. The traditional enterprise IT network must evolve to keep pace with the speed at which their modern digital counterparts now move, regardless of location or workload demands,” said Jaspreet Singh, founder and CEO, Druva. “That agility combined with the modernization of data protection is crucial for business longevity, as just one security misstep can have serious long-term consequences. The cloud is the best solution to address these needs, and Druva’s growth in the market is proof that customers want help overcoming data protection challenges. More than a cloud data protection vendor, Druva is a strategic partner for enterprises looking for a platform solution that meets their IT and business needs.“

In the first half of the year, the industry experienced a rise in cybercrime with malware such as Petya and WannaCry, wreaking havoc on enterprises. Druva is suited to deliver ransomware immutability and anomaly detection through its machine learning capabilities, providing customers with a cloud-first data protection and recovery solution that adds a degree of separation from on-premises environments.

“Data is a critical asset for most businesses,” said Harish Belur, VP, Riverwood Capital LLC. “Organizations cannot afford to leave their business data unprotected. Druva delivers the industry’s best cloud data protection and management solution, by offering it as a Data Management-as-a-Service solution designed to protect data on user end-points, in the cloud and in the data center. The Druva Cloud Platform maximizes the value from protected data while cutting costs, mitigating errors and eliminating recovery failure.”

Corporate momentum:
• Ranked #175 in the 2017 Deloitte Technology Fast 500 with 616% growth, placing it as the fastest growing cloud data protection solution provider.
• Raised $80 million of growth equity funding to accelerate R&D, expand go-to-market efforts worldwide and lead the industry in redefining how enterprises protect, manage and use their data.
• Granted an Authority to Operate (ATO) under the Federal Risk and Authorization Management Program (FedRAMP) – the only vendor in the data protection space with this distinction.
• Completed the Service Organization Control (SOC) 2 Type II certification for its data protection solutions to further assure customers that Druva has designed and implemented effective internal controls that maintain the confidentiality and privacy of the data it processes.
• Received industry awards and distinctions including Best DR/BC Offering from SC Awards Europe 2017 and the 12th Annual 2017 IT World Award gold winner in the Data Recovery as a Service category.
• Built out key roles with the addition of backup/recovery pundit W. Curtis Preston as chief technical architect, with further plans to increase global workforce by 14% over the next six months.

Product innovation:
• Announced Druva Cloud Platform, an industry as-a-Service solution that is redefining the cloud data protection market by providing a unified control plane for data management services across endpoint, server and cloud application data.
• Released Druva Apollo, a service delivered via the Druva Cloud Platform that enables data management for Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) cloud workloads on a single policy control plane.

Customer acquisition:
• Welcomed 300 new customers over the past six months, including AIG, ANDRITZ, General Electric, Hulu, Intuit, Marriott, PwC, ServiceNow and Xerox. Customer base also now includes four of the nine top consulting firms and four of the top 10 U.S.-based pharmaceutical companies.
• Announced that following its FedRAMP certification, a prerequisite for most government organizations, customer base now includes 17 federal government agencies and 3 out of the 10 largest federal integrators.
• Revealed record expansion of its server data protection business with triple-digit revenue growth.
• Doubled channel-driven ARR year-over-year.

Ecosystem expansion:
• Joined the Cloud Security Alliance and Nutanix Elevate Technology Alliance Partner Program.
• Added a strategic partnership with the BSI Cybersecurity and Information Resilience, offering the cybersecurity consultancy firm’s portfolio of cloud security solutions a simplified way to restore their data to previous versions in the event of ransomware and malicious malware attacks.
• Developed integration with both SharePoint and Hyper-V, delivering Data Management-as-a-Service for Microsoft-focused customers.