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OwnBackup Approaches $3.35 Billion Valuation with $240 Million Investment

OwnBackup Employees. (Company pic Photo: Buxa)

Israel’s OwnBackup, a cloud data backup and recovery platform, is now a super-unicorn. The company is now worth almost $3.35 billion. OwnBackup hit this mark after completing a $240 million Series E round of investment co-led by Alkeon Capital and B Capital Group, including a secondary investment in the company by BlackRock Private Equity Partners and Tiger Global.

The new investment comes on the heels of a $167.5 Million Series D completed by OwnBackup just this past January. The company has now raised nearly $500 million in total. The latest investments have raised OwnBackup’s valuation by $2 billion in just six months. OwnBackup also announced plans to expand its comprehensive backup and recovery solutions across other cloud platforms later this year, beginning with Microsoft.

Founded in 2015 by technology veterans with deep experience in data recovery, data protection and information security, OwnBackup offers comprehensive backup, visual compare, and fast recovery capabilities. The company states that it has helped hundreds of organizations through data loss and corruption crises.

And everything is going into the cloud these days. Microsoft, for example, now offers its Office suite of programs as a software as a solution (SaaS) service. Users can now access the programs on line, without needing to install them on their computers, as well as store their documents in the cloud.

Major corporations are now switching over to cloud computing for their data and doing away with bulky and costly local servers which need extra man-hours for maintenance purposes. Amazon continues to build more and more server farms around the world for its AWS cloud computing platform.

And just look at what has been going on lately in Startup Nation. Israeli cybersecurity firms have been bringing in billions in new investments for cloud security services.

OwnBackup boasts that their solution also provides enterprises with the performance and reporting required to meet compliance regulations in a number of industries. They provide secure, automated, daily backups of SaaS and PaaS data, including Salesforce.

All of this has helped make OwnBackup the top-ranked backup and restore ISV on the Salesforce.com AppExchange, a venue the solution has been listed on since 2012, and to gain recognition as a Gartner “Cool Vendor” in Business Continuity and IT Disaster Recovery.

This latest funding round will be used by OwnBackup to complete the development of its new cloud data protection service Dynamics 365, which it expects to release later this year.

OwnBackup states that Dynamics 365 will help users meet complex regulatory requirements and eliminate data disruptions due to user and integration errors. “The offering will allow companies to maintain complete ownership of their data backups, rapidly restore lost or corrupted data, and drive greater organizational adoption of Microsoft Azure and Dynamics 365,” says OwnBackup.

“Our commitment to protecting our customers’ data and providing solutions that enable precise, rapid recovery continues to grow. While the cloud is crucial to doing business, the mass adoption of SaaS has resulted in a huge amount of data, and our work with Salesforce, Microsoft and other critical SaaS ecosystems enables companies to thrive in today’s digitally driven world,” said Sam Gutmann, CEO of OwnBackup. “The story of every business is written with data, and this latest round of funding will support our ongoing vision to empower our customers to own and protect their data on any cloud platform.”

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