OwnBackup secures $50 million in Series D funding to help protect critical SaaS data
OwnBackup, a New Jersey-based cloud-to-cloud business continuity platform that provides backup and security services for Salesforce clients, today announced a $50 million in follow-on funding led by Insight Partners, with participation from Salesforce Ventures, Vertex Ventures, and existing investor Innovation Endeavors. This latest round, which brings the company’s total funding to more than $100 million, comes less than a year after Series C financing.
The additional capital 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 backup, protect, and analyze their mission-critical and increasingly complex software-as-a-service (SaaS) data. The new round spotlights SaaS backup and recovery momentum as global crisis puts business continuity to the top of mind
Founded in 2015 by Ariel Berkman, Daniel Gershuni, Eran Cohen, Ori Yankelev, and Sam Gutmann, OwnBackup provides secure, automated, daily backups of SaaS and PaaS data, as well as data compare and restore tools for disaster recovery. To date, the startup has helped more than 2,000 businesses worldwide protect critical cloud data. OwnBackup covers data loss and corruption caused by human errors, malicious intent, integration errors and rogue applications.
“This oversubscribed round signifies investors’ recognition of our early dominance in a huge addressable market,” said Sam Gutmann, CEO of OwnBackup. “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 at 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.”
The OwnBackup 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—including contact tracing, health checks, testing, medical research, and pandemic response details—all of which require maximum protection. 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.
“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,” said Nikitas Koutoupes, managing director at Insight Partners. “With the backup and recovery market expected to surpass $18 billion by 2026, 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.”