Internet, Investments, News

Tenaya Capital invests in enterprise solutions firm Druva

druva-logoPune based enterprise solutions firm, Druva, has raised USD 25 Mn in Series C funding led by Tenaya Capital with participation of its existing investors Sequoia Capital and Nexus VC.

The company had previously raised USD 5 Mn from Sequoia Capital in 2010 and later Nexus Venture Partners had invested USD 12 Mn in the company in 2011.

With this round of funding Tom Banahan from Tenaya will be joining the boards of Druva.

The company has raised this round in support of its inSync platform, an integrated suite of endpoint data protection and governance solutions that currently safeguards corporate information assets on desktops, laptops, tablets and smartphones in 76 countries.

inSync empowers an enterprise’s mobile workforce with backup, IT-managed file sharing, data loss prevention, and rich analytics. It is built with keeping both IT needs and end-user experiences in mind and can be deployed in public or private cloud scenarios or on-premise.

Jaspreet Singh, founder and CEO, Druva, said that their roadmap is to expand the inSync platform to become an essential component of the IT infrastructure.

Druva created inSync to address a very real problem in a massive market. In the process, the company has redefined data protection and governance for the mobile era,” said Tom Banahan, Managing Director of Tenaya Capital. “Our investment reflects Druva’s lead in the space, the vision and capabilities of the team, and most importantly the escalating need for new data control strategies that we expect to generate major business opportunities for the inSync platform.”

The new funding will also be used for R&D, expanding global sales and marketing, and expansion of Druva’s cloud infrastructure to support new deployments by large enterprises.

As per the company, Druva’s customer base has expanded from 1,500 to 2,100 in the last year with a corresponding jump from 1 Mn to 1.7 Mn in the number of endpoints under protection. It has also expanded its workforce from 124 at the end of 2012 to an expected 200 by the end of 2013.

Below is an infographic depicting Druva’s expansion since 2008

Tenaya Capital is a venture capital firm that invests in early growth venture-backed technology companies. A few of its portfolio companies include Eventbrite, Tidemark, Smartling, etc.

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