OwnBackup Closes $23 Million Series C Round, With Total Now at $50 Million

OwnBackup, Inc. closed a $23.25 million Series C round of financing co-led by Insight Venture Partners and Vertex Ventures.

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

The company also announced the expansion of its international team and availability of OwnBackup Archiver, which empowers businesses to meet internal and external compliance policies for SaaS data.

“Thanks to the unwavering support of our committed investment partners, we will be able to continue to scale to meet escalating market demand for our solutions as companies realize the need to claim ownership of cloud data security concerns and proactively ensure their data is protected and accessible at all times,” noted OwnBackup CEO Sam Gutmann. “As we set the bar for cloud data protection, our focus continues to be growing the team and leading the pack in cloud data protection innovation.”

Owning Cloud Backup for Cloud Data
OwnBackup helps more than 1,000 businesses worldwide protect critical cloud data-securing trillions of SaaS and PaaS records to prevent data corruption/data loss, ensure BC, minimize operational disruptions and meet compliance mandates. Achieving 100% Y/Y revenue growth for its cloud data protection platform, the company will use the investment to build on its momentum in the Salesforce ecosystem. With plans to deepen its partner network and double both its engineering and European teams, it will increase its presence around the globe and expand its product offerings to support a range of cloud data needs.

“OwnBackup has demonstrated value for Salesforce customers and partners,” noted Mike Wolff, SVP global ISV partners, Salesforce. “OwnBackup data protection solutions are a welcome addition to Salesforce AppExchange, and we are thrilled by the company’s steadfast commitment to the Salesforce community.“

In addition to the funding, OwnBackup announced the availability of Archiver, a product that addresses regulatory compliance needs while optimizing the performance of users’ SaaS platforms. The archiving tool automatically archives data and attachments that are no longer needed in production – while maintaining their integrity, data access and security to comply with a range of regulations and policies.

Expert Expansion
To drive growth across Europe, OwnBackup also appointed seasoned technology sales leader Gareth Jonathan Morris as VP sales for EMEA. Bringing almost two decades of enterprise software sales and leadership to his new role, he will focus on expanding the company’s European footprint. Based in OwnBackup’s London office, he will grow and manage the EMEA sales team. Before joining OwnBackup, he held various roles in which he grew and led high-performance sales teams across Europe. He previously served as the VP and GM of EMEA for Model N, regional VP for Salesforce in the UK, and technology sales manager for Oracle. He currently also serves as a board’s advisor for TheSearchBase.

Nikitas Koutoupes, Insight Venture Partners, Harpinder Singh, Innovation Endeavors, and Bob DeSantis, president and COO, Conga, joined the board to help the company navigate market opportunities.

“OwnBackup’s visionary leadership team and pioneering products have driven extraordinary growth over the last few years. As the call for data protection in cloud environments intensifies, OwnBackup will continue to lead the market,” added Koutoupes. “With OwnBackup, organizations can confidently embrace the cloud and trust that their critical data is safe and secure. OwnBackup users rely on its products to manage the DR process and ensure they have immediate access to the comprehensive backups they need to quickly restore their data and prove compliance.”

Read also:
OwnBackup Closes $15.5 Million Financing Round
Total now reaching $26.5 million
April 13, 2018 | Press Release
OwnBackup Secures $7.5 Million Series B Investment
Total now reaching $11 million
July 14, 2017 | Press Release
OwnBackup Closes $3.5 Million Series A
February 16, 2016 | Press Release