Remote Working Together With Digital Transformation Boosts Revenues Of OwnBackup Backed By Salesforce.com, Inc. (NYSE:CRM): Raises Funds Of $167.5 Million

OwnBackup, which is supported by Salesforce.com, Inc. (NYSE:CRM), raised funds of $167.5 million from investors like Vertex Ventures, Innovation Endeavors, Oryzn Capital, and Salesforce Ventures. Other participants in the recent funding include Sapphire Ventures and Insight Partners. After the new funding round, the valuation of OwnBackup is $1.4 billion. It’s total funding now stands at $267.5 million.

OwnBackup will use the mobilized funds for improving its footprint in New Jersey, Tel Aviv, and London and to recruit additional engineers. The company will also use funds to take over related products.

Protects customers against data loss

OwnBackup protects its customers such as Boston Dynamics and Zoom Video Communications from data loss caused by bad code or human errors. It mainly focuses on Salesforce platforms like AppExchange. Sam Guttman, CEO of OwnBackup said it plans to add more firms into its clientele. Protection and backing up of data offer immense future potential.

OwnBackup will play a vital role in helping the small and big secure and manage their critical SaaS Software as a solution) data. The company offers automated and secure backups of PaaS data, and Salesforce daily. Its other services include disaster recovery, restoration services, and management tools to detect backup gaps.

OwnBackup commands a customer base of 3,000. The company recently added 400 new clients in the recent quarter. Gutmann said the data stored in SaaS applications and the data generated improves at a faster pace because of the wide adoption of cloud and digital transformation.

According to Guttman, the company is of the view that no company that operates in the cloud should lose its vital data. The company focuses on helping the firms to backup, secure, and manages their SaaS Data.

Ample scope for growth

The customer base of Salesforce is 15,000. In contrast to this, OwnBackup holds a fraction of customers and has a lot of scope to grow further. It currently provides support for SaaS applications such as Sage Business Cloud Financials, nCino, Veeva, and Salesforce.

Competitors

Odaseva, Druva, CloudAlly Commvault, AvePoint, and Skyvia are some of the competitors in the backup market of Salesforce. Big Backup suppliers like Veeam, Rubrik, Dell EMC, Cohesity, and Acronis do not have capabilities specific to Salesforce.

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