OwnBackup raises $23.25 million for data backup and restore services
OwnBackup, a cloud-to-cloud backup and restore vendor with offices in the U.K., New Jersey, and Tel Aviv, today announced that it’s secured $23.25 million in series C financing co-led by Insight Venture Partners and Vertex Ventures, with participation from existing investors Innovation Endeavors, Oryzn Capital, and Salesforce Ventures. The fresh capital comes after a year in which revenue grew 100% year-over-year — an achievement made more impressive by the backup and recovery market’s anticipated uptick to $18.21 billion by 2026 — and it brings OwnBackup’s total raised to over $50 million, according to Crunchbase.
The company also announced the appointment of Salesforce and Oracle veteran Gareth Morris as VP of sales for Europe, the Middle East, and Africa, as well as three new board members: Insight Venture Partners managing director Nikitas Koutoupes, Innovation Endeavors general partner Harpinder Singh, and Conga president and CEO Bob DeSantis.
CEO Sam Gutmann said the cash infusion will be used to deepen OwnBackup’s partner network, double its engineering and European teams, and expand product offerings. “Thanks to the unwavering support of our committed investment partners, we will be able to continue to scale to meet escalating market demand for our solutions as companies realize the need to claim ownership of cloud data security concerns and proactively ensure their data is protected and accessible at all times,” he added. “As we set the bar for cloud data protection, our focus continues to be growing the team and leading the pack in cloud data protection innovation.”
OwnBackup, which was founded in 2012, offers a range of services in the archival domain, including file comparison, recovery, management, sandbox seeding, replication, and compliance. Its data safeguarding suite enables admins to schedule automatic daily backups of custom objects, standard objects, and attachments, and to restore backed-up data, metadata, and relationships on command.
With OwnBackup’s visual comparison and recovery tools, users can drill down into files to see what’s been added, deleted, or changed, or restore deleted data (along with related records) from multiple points in time to the same environment or any other. On the management and seeding side of things, OwnBackup’s built-in search can find corrupted data (plus children, parent, and object dependencies) and export backup snapshots to databases, or create anonymized test sets for quality assurance purposes.
OwnBackup’s archiver service — OwnBackup Archiver — works with Salesforce, Sage, Veeva, and Ncino, and lets managers set custom policies and unarchive directly from within the target software-as-a-service (SaaS). OwnBackup claims it provides the fastest knowledge article, account, orphaned record, attachment, and file backup for SaaS platforms in the industry.
Most of OwnBackup’s processes integrate with external systems using its API. Toward that end, backup files can be exported automatically to a range of databases, and Salesforce data can be exposed to on-premises apps, business intelligence systems, and analytics tools. Users receive alerts based on triggers, workflows, and validation rules when data is modified or restored, and they receive updates on backup progress via email.
OwnBackup’s platform offers authentication, encryption key management, and access controls compliant with GDPR, HIPAA, SEC 17a-4. Encrypted fields and encryption keys can be backed up and recovered in cipher-text form, and all customer activities are audited and logged. As an added precaution, data is encrypted using admin-approved customer keys rather than derivatives or composite keys, and the keys are rotated and destroyed according to a schedule or on-demand.
For enterprise clients with more stringent integrity validation requirements, there’s Ice, OwnBackup’s blockchain-backed service that generates a verified signature and index from the timestamp and the content of the original backup. In the event the backup is modified, the signature, which is stored on public blockchain, will no longer be producible using the combination of the current backup content and the original timestamp.
To date, OwnBackup says it’s backed up over 8 million tables for more than 1,000 customers in health care, finance, insurance, government, nonprofit, higher education, manufacturing, and media verticals, among them Yellow Pages, Athena Health, DenMat, and Michigan State University.
“OwnBackup’s visionary leadership team and pioneering products have driven extraordinary growth over the last few years. As the call for data protection in cloud environments intensifies, OwnBackup will continue to lead the market,” said Koutoupes. “With OwnBackup, organizations can confidently embrace the cloud and trust that their critical data is safe and secure. OwnBackup users rely on its products to manage the disaster recovery process and ensure they have immediate access to the comprehensive backups they need to quickly restore their data and prove compliance.”
Source: VentureBeat
