Forges ahead with plans to expand its team, operations, and channel
Clumio, a provider of SaaS-based enterprise backup, has raised $135 million in series C funding from Sutter Hill Ventures, Altimeter Capital, and Index Ventures, bringing its to-date funding to $186 million over three rounds.
The Lowdown: Having emerged from stealth just about three months ago, Clumio now can accelerate its vision to deliver a globally consolidated data protection service for the public cloud.
The Details: Clumio’s offering allows enterprises to securely back up their data centers and remote sites without purchasing, configuring, or managing any hardware or software. The SaaS product protects data wherever it resides and lets enterprises migrating to the cloud protect workloads such as VMware Cloud on AWS and native AWS services.
The company also announced this week the expansion of its secure backup as-a-service to support native AWS services.
The latest series C funding was led by Mike Speiser, managing director of Sutter Hill Ventures, as well as new investor Altimeter Capital and existing investor Index Ventures.
The new funding will help Clumio execute in four areas:
• Accelerate the growth of its engineering teams in Santa Clara, California – its headquarters – and in Bangalore, India
• Expand its go-to-market and service operations in the United States
• Add more support for its 100% channel strategy and build momentum for its technology partner programs with AWS, VMware, and others
• Introduce support for new workloads
Background: According to IDC, the global market for SaaS application revenue is expected to increase from about $100 billion in 2018 to more than $185 billion by 2022 and the Data Protection-as-a-Service market, which includes spending on backup and disaster recovery cloud services, will hit more than $10 billion by 2022.
Clumio officials feel the company is uniquely positioned to take advantage of the SaaS trend and to help enterprises move data protection to the cloud, just as they’ve done already with CRM, data warehouse workloads, HR, and IT service management.
The Buzz: “Enterprise IT can no longer afford the time, complexity, and expense of building and managing data protection solutions on-prem or in the cloud,” said Poojan Kumar, co-founder and CEO of Clumio. “Unlike legacy backup vendors, Clumio SaaS is born in the cloud. This round of investment allows us to push that advantage as we accelerate our development and go-to-market strategy while continuing to meet customer requirements for backup, regardless of where the data is.”
“Similar to Snowflake disrupting the data warehousing market by leveraging the scale, elasticity, and economics of the public cloud, Clumio is building a globally consolidated data protection service the right way,” said Speiser. “Harnessing the full power of the public cloud, they’re re-imagining the backup experience for the enterprise, paying particular attention to security, predictable costs, and simplicity for their customers.”