BlackRock Backs OwnBackup at $3.35B Valuation
August 10, 2021
secured a Series E investment of $240 million co-led by Alkeon Capital and B
Capital Group, including a secondary investment in the company by BlackRock
Private Equity Partners and Tiger Global. Existing investors Insight Partners,
Salesforce Ventures, Sapphire Ventures, and Vertex Ventures also participated.
The company has cumulatively raised nearly $500 million, resulting in a $2
billion valuation increase in six months. OwnBackup also announced plans to
expand its comprehensive backup and recovery solutions across other cloud
platforms later this year, beginning with Microsoft.
OwnBackup's continued focus on empowering customers to own and protect their
data on any cloud platform began with Salesforce's vast customer ecosystem. The
additional funding bolsters OwnBackup's pattern of success in creating cloud
data protection and management products that people need and love. OwnBackup
currently provides cloud data protection, sandbox seeding and data archiving
solutions for nearly 4,000 organizations worldwide.
“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.”
With this latest funding round, OwnBackup is poised to extend its proven cloud
data protection expertise to Dynamics 365 later this year. OwnBackup will help
Dynamics 365 customers 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.
“We’re pleased to partner with OwnBackup and give Dynamics 365 customers an
additional layer of protection for their data,” said David Totten, Chief
Technology Officer at Microsoft. “By enabling organizations to automate the
backup process and restore the precise data they need in minutes, OwnBackup’s
solutions will help Dynamics 365 customers run more business-critical workloads
while eliminating the risk of data loss.”
with Salesforce and Microsoft, OwnBackup is actively exploring other cloud
providers as potential partners to deliver on its promise for customers to own
and protect their mission-critical data.
“In the last 18 months, data has really taken center-stage as the virtual
workplace expands,” said Abhi Arun, Managing Partner, Alkeon Capital.
“Executives are focused on data solutions and their workforce’s ability to
access and secure it when and where they need it. Likewise, customers demand
seamless transfer and control of their data on a platform independent of their
SaaS provider, while maintaining the highest levels of security for their
end-users. That’s why we are thrilled to collaborate with and support
OwnBackup’s leadership team as they continue to deliver incredible customer
value in the Salesforce ecosystem and beyond.”
Nearly 4,000 customers trust OwnBackup across every industry, such as AECOM,
Aston Martin, Ciena, Delivery Hero, Guidewire Software, the Make-A-Wish
Foundation, Medtronic, Navy Federal Credit Union, Singapore Economic Development
Board, and the University of Miami.