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October 15, 2013

Deal Alert: Data backup software firm Druva raises $25-M Series C led by Tenaya Capital

Data security solutions company Druva has raised $25 million in Series C funding led by US-based Tenaya Capital with participation from existing investors Sequoia Capital India and Nexus Ventures. Tom Banahan, Managing Director of Tenaya Capital, has joined the company’s board. Druva will use the new funds to support R&D, expand global sales and marketing and cloud infrastructure to support new deployment. 

Druva, founded in 2007, has over 2,100 customers and protects 1.7 million endpoints. It is also expected to employ 200 people by the end of the year, up from 124 at the end of 2012.
From the Venture Intelligence PE Deal database: Druva had raised $2.72 million in Mar-10 from Sequoia Capital India and the Indian Angel Network (including Rehan yar Khan and Sharad Sharma) and another $1.79 million tranche in Feb-11 from the same investors. In Aug-11, Nexus Venture Partners joined Sequoia for a $9.5 million round. (Subscribers to the database can login to view the company financials, valuation, deal structuring and other transaction details.) 


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