Data protection firm Druva joins the unicorn club with $130 M funding

Data Protection Start-up Druva Crosses $100 mn in annual recurring revenue

Druva a data protection startup crosses $ 100 mn in annual recurring revenue. It is a data-protection start-up that counts the US space agency National Aeronautics and Space Administration (Nasa) and drugmaker Pfizer among its customers,said it has surpassed $100 million annual recurring revenue (ARR). Druva offered as a service. It is globally accessible,infinitely scalable and completely autonomous data.It becomes India's latest unicorn after $130 million funding round. India's 17th tech unicorn,is Druva .Now the rate of $100 million per year and has 700 employees across pune and california. The major advantage of this ,it provides user data backup and restore services,mobile workforce data protection,device refresh and OS migration,and mobility solutions for cloud-based clients.                                        

                                             Jaspreet Singh, Founder and CEO of Druva said that "there is only one technology capable of keeping pace with today's demads for rappid innovation, on -demand scalability,robust security and sheer compute power,that is cloud. Trust of customers us to help them successfully transform their businesses through the cloud,and with our depth of workload coverage and seamless platform.,they can immediately experience substantial cost savings,continuous innovations and enhanced security every day                                                                                                                               cloud help us to drive innovation,enhance customer experience,power coloboration. The cloud has changed everything. Now it's changing the way you protect and manage your data. Druva might now serve large clients,but it had small beginnings.It has raised $328 million and they continued raising more money. The company has 4000 clients including Marriott,pfizer and hitachi. The average revenue of about $25,000 per customer,and over time, wallet size have been increasing.                                            

                                      Druva joins to other business and they focused startups such as B2B marketplace Udaan and the Chennai-based software as a service (saas) player freshworks,which have attained Unicorn status in the past year. Unicorn are startups whose value is considered to be more than $1 billion.It's revenue is nearly $100 million, and is growing at 50%. According to industry tracker IDC,the data protection industry has continued to expand , with its market size expected to touch $55 billion by 2020. The shift to cloud as the de-facto environment for business will only accelerate in the year to come, and according to Gartner,80 percent of enterprise will migrate entirely away and close their on-premises data centres by 2025. Built entirely on amazon web services (AWS) , druva said it was helping companies successsfully enter the cloud era through radically simple data protection and management.