Clumio – a leader in data backup and recovery for public cloud – announced that it has secured $75 million in a Series D funding round led by Sutter Hill Ventures, along with participation from existing investors Index Ventures and Altimeter Capital, and new investor NewView Capital.
This funding round will accelerate the company’s innovation and go-to-market in radically simplifying backup and recovery for public cloud customers. And Clumio has now raised a total of $261 million.
Clumio also revealed a 4X growth in annual recurring revenue (ARR) in 2023, fueled by accelerated enterprise customer acquisition like software powerhouse Atlassian, legal and risk management leader LexisNexis, and recently public fast-casual restaurant chain Cava. Now Clumio is well into double-figures in millions of dollars in annual recurring revenue (ARR), with over 100 petabytes (PB) of cloud data protected for hundreds of customers, a net promoter score (NPS) of 86, and a 5-star rating on the AWS Marketplace.
When it comes to public cloud backup and recovery, the majority of enterprises today rely on rudimentary tools like snapshots and replicas. But these lack the necessary optimizations, observability, and security for enterprise-level operations, quickly becoming complex and expensive to manage. Clumio — the only serverless backup solution — overcomes these challenges with an autonomous, default-air-gapped, and immutable platform that proactively monitors compliance and reduces cost.
Along with these highlights, Clumio continued its product innovation with the general availability of S3 Instant Access, a new paradigm for data recovery without having to perform a restore operation. In the incident of a disruption, Amazon S3 customers use this feature to keep their critical applications up and running while a full recovery takes place in parallel. For its streak of innovation and momentum in 2023, Clumio was awarded InfoWorld Technology of the Year in the Cloud Compliance and Governance category.
KEY QUOTES:
“Few markets are as big as backup and recovery. While many legacy vendors offer products for on-premise data protection, backup and recovery at public cloud scale is a significant technical challenge that Clumio is uniquely positioned to solve.”
- Mike Speiser of Sutter Hill Ventures
“Customers have reached a point of maturity in the public cloud where backup and recovery of their critical data is now a top priority. It is foundational to their operational resilience, ransomware recovery, and regulatory compliance needs. Because traditional backup and recovery vendors are not architected for public cloud applications, Clumio is seeing a deluge of demand across cloud databases, data lakes, and high-performance storage. We will use our Series D funding to accelerate our momentum in these areas, across the major cloud providers.”
- Poojan Kumar, co-founder and CEO of Clumio
“Clumio is doing to enterprise backup and recovery what Snowflake did to enterprise data warehousing. With the explosion of cloud data, customers need a backup solution natively built in the cloud that can leverage and scale with their other cloud services. I witnessed this shift from bolt-on, retrofitted deployments towards hands-off, consumption-based solutions first-hand during my tenure at Snowflake, when the company grew its revenue 30X in five years. I am excited to lead Clumio on a similar revenue trajectory.”
- Rick Underwood, Chief Revenue Officer at Clumio
“Clumio helped us automate the resilience of Jira Cloud. Clumio was the only solution that met our needs for high-fidelity backup and restore at scale, both in terms of data volume as well as change-rate. It has also been simple to implement and easy to use.”
- Alex Grach, Head of Engineering, Core Engineering Services at Atlassian
