Is Druva Ready For An IPO?

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According to a MarketsAndMarkets report, the cloud backup market is expected to grow at a CAGR of 26.1% from $1.30 billion in 2017 to $4.13 billion by 2022. A leading player in the space is data protection solutions provider Druva that recently made its first acquisition.

Druva’s Offerings

Druva was founded in 2008 by CTO Milind Borate, CEO Jaspreet Singh, and Ramani Kothandaraman. Today, it provides an industry-leading data management-as-as service platform that unifies data protection, governance, and intelligence across enterprise data. It protects and manages over 100PB of data worldwide for over 4,000 enterprises including NASA, Pfizer, hospitality giant Marriot, NBC Universal, Dell, Hitachi, ServiceNow, Stanford University, Continental, Emerson, Flex, Fujitsu, and defense equipment maker Lockheed Martin.

Druva was founded in Pune, but after it gained traction, it shifted its headquarters to Sunnywale, California. In the past few years, Druva has set up subsidiaries in Japan and Germany and has opened offices in the UK, Australia, and Singapore. It has also set up cloud data center offerings in Canada, the UK, and Hong Kong that would satisfy national and regional data protection requirements. About 72% of its customers are in the Americas, while the rest are spread across Europe and Asia.

Druva last year acquired Chicago-based CloudRanger, which streamlines backups, disaster recovery, and server control for AWS Cloud. CloudRanger was integrated into the Druva Cloud Platform within 60 days. Both CloudRanger and Druva employ a cloud-native architecture that enables immediate integration and enhancements. CloudRanger has raised a total of $1.1 million in funding and had an estimated annual revenue of $2 million. The terms of the deal were not disclosed.

Druva’s Cloud Platform is comprehensive and contains architected and patented global data deduplication capabilities. Druva can have a single global dedupe index, whereas most classic data protection systems have low elasticity and require additional hardware once they reach 100 terabytes on the dedupe index. Druva’s services, which employ a multi-tenant, stateless node architecture with fully elastic storage for both data and metadata, can scale into hundreds of petabytes. Druva has also built an extensive security model, employing a security-by-design approach, which has made the company one of the few HIPAA- and FedRAMP-audited organizations in the cloud.

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