OwnBackup Secures $50 Million in Funding

OwnBackup, Inc. announced $50 million in new funding led by Insight Partners, with participation from Salesforce Ventures and Vertex Ventures less than one year after raising Series C financing. Existing investor Innovation Endeavors also participated in the follow-on round, which brings the company’s total funding to over $100 million.

The additional capital will be used to accelerate product development and scale go-to-market functions in support of firm’s vision to give enterprise CIOs one pane of glass where they can backup, protect, and analyze their mission-critical and increasingly complex SaaS data.

“This oversubscribed round signifies investors’ recognition of our early dominance in a huge addressable market,” said Sam Gutmann, CEO. “In today’s uncertain climate, more CIOs and CEOs realize the importance of building greater resiliency into their business. We’re committed to keeping their operations running around the clock with enterprise-grade, set-it-and-forget-it monitoring and recovery-both during the Covid-19 pandemic and over the long term.”

“OwnBackup provides automated and fast data protection so customers can feel confident that their business data is always protected,” said Matt Garratt, managing partner, Salesforce Ventures. “OwnBackup has been a long standing Salesforce partner on AppExchange, and we are pleased to continue to support their growth with this new investment to drive further innovation for customers.”

Recent highlights of OwnBackup

• Achieved approximately 100% Y/Y revenue growth for 2 years running
• Earned 98% five-star reviews in the Salesforce AppExchange
• Supports over 2,000 customers such as AECOM, athenahealth, Michigan State University, and Navy Federal Credit Union-securing 60 trillion SaaS and PaaS records
• Employs more than 220 people globally, with headcount growth of 200% over the past 2 years
• Recently expanded its bench with the addition of Salesforce veteran Jamie Grenney as CMO, and data security expert Roi Dover as VP of R&D
• Ranked 25th on the 2020 Financial Times Americas’ Fastest Growing Companies list and number 102 on the 2019 Inc. 5000

“OwnBackup is the BC partner of choice for forward-thinking enterprise CIOs, and has achieved incredible growth and customer success in the five years since it was founded,” said Nikitas Koutoupes, MD, Insight Partners. “With the backup and recovery market expected to surpass $18 billion by 2026 (1), there’s massive untapped potential for OwnBackup’s stellar team and proven solutions. We believe demand for the company’s products will continue to soar, both within the Salesforce ecosystem and beyond.“

Enabling holistic oversight and continuity for all mission-critical SaaS data
OwnBackup’s data recovery solutionshttps://www.ownbackup.com/platform-overview make it painless to backup data, metadata: and attachments stored in Salesforce. The platform’s real-time monitoring and alerts help enterprises recover faster from data loss, ensure BC, speed up operations, and meet compliance mandates. During the Covid-19 crisis, governments and businesses need to manage potentially life-saving data sets-including contact tracing, health checks, testing, medical research, and pandemic response details-all of which require maximum protection. With the new funds raised today, the company plans to meet this demand and expand its backup, recovery, archiving, and sandbox seeding services into a unified solution for all corporate data across a variety of SaaS apps.

“OwnBackup is a lifesaver, because not only does it give us peace-of-mind with a single pane of glass for our valuable SaaS data, it lets our team jump faster into new projects, since we know we can always roll back if needed,” said Matthew McGarry, senior principal Salesforce technologist, Medtronic. “As we become more sophisticated in how we leverage and build out our Salesforce environments, OwnBackup ensures that we minimize the risk of any data loss, reduce our storage costs, eliminate regulatory compliance headaches, and have the tools to properly govern all of our crucial enterprise data.”

(1) Stratistics MRC, Backup and Recovery – Global Market Outlook, March 2018

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