Sequoia leads $51m round for Indian data security firm Druva

Existing backers Tenaya Capital, NTT Finance and Nexus Venture Partners also participated in the round, in addition to new investors EDBI - the corporate VCs arm of Singapore's Economic Development Board - Blue Cloud Ventures, and Hercules Capital. Druva will use the new capital to accelerate product innovation and drive sales and marketing for its global expansion.

Founded in 2008, Druva provides backup and cloud data solutions to corporate customers, focusing on medium to large-size enterprises. Its products are meant to enable efficient information sharing within organizations and with customers while ensuring secure file storage and transparency of data trails for governance and compliance purposes.

Druva currently has more than 400 employees; in the last two years it has launched subsidiaries in Japan and Germany, in addition to its existing presence in India and the US. It has over 4,000 clients worldwide, including NBC Universal, Marriott, Stanford University and NASA, for which it protects more than 25 petabytes of data.

"The fragmentation of data, combined with increasing regulatory needs, is making enterprises everywhere rethink how information is best managed," said Druva founder and CEO Jaspreet Singh in a release. "This new capital enables us to continue to serve customers through notable innovations, partnerships and additional global expansion."

With the newest round, Druva has raised $118 million in total; AVCJ Research's records show Sequoia participating in all of its funding rounds so far. Nexus first invested in Druva's $12 million Series B round alongside Sequoia in 2012 and has taken part in every round since.

Information security has emerged as a major concern in recent years as online businesses struggle to prevent exposing customers' sensitive data amid rapid changes in internet technology.

A number of Asian start-ups in the sector have received VC support, including India's Seclore, which raised a Series B round earlier this year led by Helion Ventures and Ventureast, while Australia's Data Republic got backing from NAB Ventures and Westpac's Reinventure Fund in May. At the other end of the spectrum is Chinese cybersecurity firm Qihoo 360, which completed a PE-backed privatization worth $9.3 billion in June.

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• Topics
• South Asia
• Support services
• Technology
• Expansion
• India
• Sequoia Capital
• EDBI
• Nexus India Capital Advisors
• Tenaya Capital
• Growth capital
• TMT
• Venture