Druva secures a funding from Riverwood Capital worth $80 million

The data protection company, Druva has raised a funding of $80 million (about Rs 513 crore) from US- based Riverwood Capital for the second time in a year. It has secured a total of $200 million capital. It is bulking up capital as enterprises face frequent threats from cyber attacks.

 

An investor pegged Druva’s valuation following its latest fundraise at $500-600 million. In 2014, when Druva raised a fund, it was estimated to be worth about $220 million. It also did not disclose the worth of the company when it raised fund of $51 million from investors in October.

 

The data protection company will use the fund to speed up research and development and also its global marketing strategy. With increasing cyber attacks like WannaCry, it is a matured time to invest for Druva.

 

In its data protection business, the company has seen an annual growth of 300%. It serves more than 4,000 customers worldwide, including Cipla, Marriott and Lockheed Martin. The total data protected by Druva exceeds 40 petabytes, the company said in a statement.