- OwnBackup — a leading cloud-to-cloud business continuity platform — announced $50 million in new funding
OwnBackup — a leading cloud-to-cloud business continuity platform — announced $50 million in new funding led by Insight Partners with participation from Salesforce Ventures and Vertex Ventures. And existing investor Innovation Endeavors also participated in the follow-on round, which brings the company’s total funding to more than $100 million.
This additional funding will be used to accelerate product development and scale go-to-market functions in support of OwnBackup’s vision to give enterprise CIOs one pane of glass where they can back up, protect, and analyze their mission-critical and increasingly complex software-as-a-service (SaaS) data.
Some of the recent highlights of OwnBackup’s market leadership include achieving approximately 100% year-over-year revenue growth for two years running and the earning of 98% five-star reviews in the Salesforce AppExchange. Plus the company now also supports over 2,000 customers like AECOM, athenahealth, Michigan State University, and Navy Federal Credit Union. And OwnBackup has secured 60 trillion SaaS and PaaS records.
The company employs more than 220 people globally with headcount growth of 200% over the past two years. And OwnBackup recently expanded the company’s leadership bench with the addition of Salesforce veteran Jamie Grenney as chief marketing officer and data security expert Roi Dover as vice president of research and development.
OwnBackup’s data recovery solutions make it painless to backup data, metadata, and attachments stored in Salesforce. And the platform’s real-time monitoring and alerts help enterprises recover faster from data loss, ensure business continuity, speed up operations, and meet compliance mandates.
During the COVID-19 crisis, governments and businesses need to manage potentially life-saving data sets—such as contact tracing, health checks, testing, medical research, and pandemic response details — all of which require maximum protection. And with the new funds raised today, OwnBackup 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.
Key Quotes:
“This oversubscribed round signifies investors’ recognition of our early dominance in a huge addressable market. 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.”
– Sam Gutmann, CEO of OwnBackup
“OwnBackup provides automated and fast data protection so customers can feel confident that their business data is always protected. 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.”
– Matt Garratt, managing partner at Salesforce Ventures
“OwnBackup is the business continuity partner of choice for forward-thinking enterprise CIOs, and has achieved incredible growth and customer success in the five years since it was founded. With the backup and recovery market expected to surpass $18 billion by 20261, 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.”
– Nikitas Koutoupes, managing director at Insight Partners
“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. 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.”
– Matthew McGarry, MBA, Senior Principal Salesforce.com Technologist at Medtronic
