OwnBackup Closes $15.5 Million Financing Round

OwnBackup Ltd., in backup and recovery, announced the close of a $15.5 million round of financing co-led by new investor Vertex Ventures and existing investor Insight Venture Partners.

Existing investors Innovation Endeavors, Oryzn Capital and Salesforce Ventures also participated in the round.

Since announcing its last round in July 2017, the company has driven growth by expanding its market reach, continuing its technology innovation, deepening its investment in the Salesforce community, and adding partnerships with Sage and Veeva.

Serving hundreds of mid-sized companies and large enterprises across major industry, OwnBackup helps customers protect critical cloud data-securing trillions of SaaS/PaaS records every day, preventing data corruption, ensuring BC, minimizing operational disruptions and meeting compliance mandates.

“OwnBackup has emerged as a cloud-era leader in data protection by putting its visionary technology into practice,” said Aviad Ariel, general partner, Vertex Ventures. “Its impressive growth in the last year demonstrates that the company is primed to dominate the evolving SaaS/PaaS data protection industry as more companies realize the need to better secure critical application data in the cloud and comply with regulatory requirements such as GDPR and HIPAA.”

As more companies embrace SaaS and PaaS environments, security and compliance challenges are intensifying. To meet the rising demand for additional cloud data protection, OwnBackup will use this investment to accelerate its global growth. The funding will drive product innovation and support recruiting efforts to double its team in the United States and Israel before the end of the year.

“While companies often assume that the SaaS and PaaS vendors are responsible for the data, the company owning the data is still responsible when data is corrupted by accident, malicious intent or through bad code and weak integrations. With the support of our investors, we will continue to provide the ultimate in independent data protection peace of mind – ensuring that companies have the same data protection in their cloud environments as their on-premise applications,” added OwnBackup CEO Sam Gutmann. “We look forward to building on our successes to date as we use the latest funding to break new ground in the data protection space and fill the security void that many companies were not even aware existed.”

OwnBackup technology is built on the Salesforce Platform and available on the Salesforce AppExchange. Advanced features in the latest version of the OwnBackup platform tighten SaaS backup and recovery security, support regulatory compliance, offer greater control and access, and improve backup and recovery performance-making data protection easier, faster and better integrated with existing security systems.

Vertex Ventures’ Aviad Ariel will join Nicolas Wittenborn of Insight Venture Partners and Ziv Kop of Innovation Endeavors on the OwnBackup board.

Read also:
OwnBackup Secures $7.5 Million Series B Investment
Total now reaching $11 million
2017.07.14 | Press Release
OwnBackup Closes $3.5 Million Series A
2016.02.08 | Press Release