A little over six years ago, OwnBackup was co-founded by a small group of seasoned data protection and recovery experts in Tel Aviv, Israel. Our mission was simple, but ambitious: To make sure that no company operating in the cloud ever loses data. Since then, we’ve grown rapidly to become the #1 cloud data protection platform for Salesforce and the de facto standard for SaaS data protection.
Today, I’m thrilled to announce the next chapter in our incredible growth story: our $240M Series E funding round and expansion into other SaaS platforms, beginning with Dynamics 365 later this year. With this latest round, our cumulative funding is now over $500 million, marking a new valuation of $3.35 billion! Thank you to our new investors, Alkeon Capital, B Capital Group, BlackRock Private Equity Partners and Tiger Global, along with existing investors Insight Partners, Salesforce Ventures, Sapphire Ventures, and Vertex Ventures.
This round of funding will give us the ability to continue to create cloud data protection and management products that people need and love. More specifically, it will enable us to do three important things:
At OwnBackup we pride ourselves on helping customers access their data even during service disruptions, help them proactively monitor for loss or corruption, and easily identify and quickly fix what’s broken.
But we go beyond being the most advanced backup and recovery solution. We also provide easy sandbox seeding to accelerate development cycles, data archiving to improve performance and usability, and advanced tools to manage compliance. This additional funding will allow us to continue to innovate and build products that help companies manage, protect and secure their SaaS data all in one place.
As I mentioned earlier, we also officially announced our plans to expand to Microsoft. With this latest funding round, we’re poised to extend our proven cloud data protection expertise to Dynamics 365 late this year. The offering will enable Dynamics 365 customers to maintain complete ownership of their data backups, and rapidly restore data should it become lost or corrupted. It will also drive greater adoption of Azure and Dynamics 365.
Along with Salesforce and Microsoft, we are actively exploring other cloud providers as potential partners to deliver on its promise for customers to own and protect their data.
We couldn’t have achieved this success without an amazing team. One of our core values at OwnBackup is “we care about everything we do”, and that shines through in all 370+ 5-star Salesforce AppExchange reviews we receive.
We’ve grown from 11 employees at the end of 2016 to over 500 employees today, and now have offices in the U.S., Tel Aviv, Europe, India and Australia.
I couldn’t be more excited for the future of OwnBackup and helping even more companies protect their mission-critical SaaS data. If you want to be a part of the next chapter of our story, come join us!