FORT LEE, NJ, OwnBackup, a leading Software-as-a-Service (SaaS) application backup and restore vendor, today announced the close of a $7.5 million Series B round.
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The round was led by Insight Venture Partners, a New York-based private equity and venture capital firm and one of the world's largest investors in high-growth software companies. Existing investors Innovation Endeavors, Oryzn Capital, and Salesforce Ventures also participated in the round, which constitutes a minority equity stake.
The round comes on the heels of an explosive year for OwnBackup, with 330% year-over-year revenue growth in 2016. Users of SaaS applications are increasingly turning to OwnBackup for data protection, archiving, compliance and development enablement. These organizations are fueling a burgeoning market for cloud-to-cloud private backup, recovery and replication services. The new capital will fuel the company's continued expansion and speed product innovation, including backup and recovery services for additional SaaS applications and the simplification of test data environments for developers working with SaaS applications.
"Partnering with Insight Venture Partners, we will use the latest investment to further grow our team, scale our business, deliver transformative solutions and raise awareness of the need for more proactive protection of valuable enterprise SaaS-based data," said Sam Gutmann, CEO, OwnBackup. "They share our vision that no company operating in the cloud should ever lose data. The OwnBackup solution has provided our clients peace of mind, in staying ahead of data loss and corruption crises, in knowing they can recover both data and metadata, and in being able to navigate through data crises quickly and with complete confidence."
OwnBackup, a backup and recovery application on the Salesforce AppExchange, is a pioneer in the cloud-to-cloud backup, recovery and replication space. The company was co-founded by industry veterans with deep experience in data-recovery, data-protection and information-security. Headquartered in Fort Lee, New Jersey, and with a R&D and Support Center in Tel Aviv, Israel, OwnBackup is the vendor of choice for some of the world's largest users of SaaS applications.
"OwnBackup is an impressive, young company, and we are excited to add them to our portfolio of high-growth software and internet-enabled companies. The OwnBackup service fills an important void in the enterprise SaaS world, and we look forward to working with the OwnBackup team as a strategic advisor," said Nicolas Wittenborn, Vice President at Insight Venture Partners.
Wittenborn will also join the OwnBackup Board of Directors. For complete details on the latest OwnBackup offering, please visit: https://www.ownbackup.com/products
OwnBackup, a leading cloud-to-cloud backup and restore vendor, provides secure, automated, daily backups of SaaS and PaaS data, as well as sophisticated data compare and restore tools for disaster recovery. OwnBackup covers data loss and corruption caused by human errors, malicious intent, integration errors and rogue applications. Co-founded by seasoned data-recovery, data-protection and information-security experts, OwnBackup is a top-ranked backup and restore ISV on the Salesforce AppExchange and was selected as a Gartner 2015 "Cool Vendor" in Business Continuity and IT Disaster Recovery. For more information, visit http://www.ownbackup.com.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in nearly 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com or follow us on Twitter: @insightpartners.
Salesforce Ventures Salesforce Ventures -- Salesforce's corporate investment group -- invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce has invested in more than 200 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.