OwnBackup raises $23.25 million in series C investment round
By Akshay Kedari  Date: 2019-06-01

OwnBackup raises $23.25 million in series C investment round

The cloud to cloud data backup and recovery company OwnBackup has reportedly announced that it has closed a series C funding round worth $23.25 million. Among the investors in the latest round are Salesforce Ventures, the corporate investment division of San Francisco-based Salesforce which focuses on investments in technology developers aimed at developing the Salesforce Customer Success Platform.

Reportedly, with the latest round, OwnBackup has secured total funding of approximately $50 million. The company is solely focused on Salesforce integration. Salesforce is its strategic investors.

Sam Gutmann, CEO of the N.J.-based firm Fort Lee, reportedly stated that the company is not certainly limited to the Salesforce environment. Salesforce serves 140,000 customers and the company believes that every one of them needs a backup and recovery solution, he further added.

Gutmann added that the OwnBackup was initially designed to support any SaaS relational database-based platform, but early-on selected to focus on Salesforce because of its size. The goal of the company is to work with any firm relational database-based platforms, but most startups fail due to lack of focus, he further stated.

As per reliable sources, the bulk of OwnBackup's sales are direct, but that could change. The company recently appointed two new directors. One will focus on growing business with ISVs developing new applications for the Salesforce ecosystem, and other will focus strengthen ties with systems integrators who work with Salesforce.

Apparently, Gutmann declined to comment on financial situation of OwnBackup but noted that the company has been investing in growth.

OwnBackup has not been optimizing for profitability yet. The company saw 100-percent growth last year and is seeing it again this year.

Reportedly, OwnBackup has also introduced OwnBackup Archive, its first archive-focused offering. OwnBackup Archive provides Salesforce customers the ability to archive their data for compliance reasons and to increase operational efficiency by moving older data off the platform.

Source credit: https://www.crn.com/news/storage/salesforce-helps-fund-ownbackup-a-salesforce-focused-data-protection-provider?itc=refresh

https://apnews.com/Globe%20Newswire/1f93c7291e4d0b850daeb7b7872b829f

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Turning Point Brands offers free sanitizer bottles to combat COVID-19
Turning Point Brands offers free sanitizer bottles to combat COVID-19
By Akshay Kedari

From offering medical aids to donating funds, many companies worldwide have come forward to help governments and people to fight the spread of the novel coronavirus. Recently, Turning Point Brands, one of the leading tobacco product manufacturers in ...

Isracann enters JV agreement to develop cannabis production in Israel
Isracann enters JV agreement to develop cannabis production in Israel
By Akshay Kedari

Isracann Biosciences Inc. has recently entered a joint venture agreement for phased partnership of 2 near-term farm operations at the Sharon Plain region in Israel. This JV agreement will provide significant revenue generating opportunities to the Is...

Russia to track people at risk of COVID-19 through their geolocation
Russia to track people at risk of COVID-19 through their geolocation
By Akshay Kedari

Mikhail Mishustin, the Russian Prime Minister, recently gave the regional authorities 5 days for developing a system that can track citizens by using mobile phone geolocation data. The move is aimed at tracking people who have come into contact with ...

Govt. of India launches WhatsApp chatbot to answer COVID-19 queries
Govt. of India launches WhatsApp chatbot to answer COVID-19 queries
By Akshay Kedari

The Indian Government has finally decided to put its foot down on fake WhatsApp news as its Ministry of Health plans to collaborate with WhatsApp to launch a helpline number for offering COVID-19 related information. The helpline’s main focus w...

Keysight, VIOMI partner to introduce 5G IoT home solutions in China
Keysight, VIOMI partner to introduce 5G IoT home solutions in China
By Akshay Kedari

In a bid to accelerate the launch of 5G supported IoT devices for consumers in China, California headquartered electronics company- Keysight Technologies Inc. has reportedly announced a partnership with Chinese firm- VIOMI, a leader in IOT enabled sm...