Sequoia, Nexus invests $12 in Druva
Nexus Venture Partners and Sequoia Capital has jointly invested $12 million in a Series B round of funding in Druva, a global data protection solutions firm.
Sequoia is a returning investor in the raise, having injected approximately $5 million in Druva in April 2010. That Series A investment round was made with Indian Angel Networks.
Druva, which launched in 2007, claims more than 750 customers globally. Among its key products is its InSync system, which delivers a near-instantaneous automated backup of laptop computers, which is additionally compatable with web browsers and iPhone, iPad and Android devices.
“With wide adoption of its on-premise and cloud-based solutions, the fast-growing company is racking up an impressive list of reference customers,” Jishnu Bhattacharjee, principal at Nexus, said in a release.
Shailendra Singh, managing director at Sequoia Capital, added that, “We now expect the company to invest significantly in sales and marketing to grow the business in what is a high-growth segment of the backup industry and a multi-billion-dollar market opportunity.”
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.