Druva raises $130M in late stage financing

June 20, 2019Client News

Gunderson Dettmer client Druva, the leader in cloud data protection and management, has raised $130 million. The funding round was led by Viking Global Investors and included participation from funds advised by Neuberger Berman and Atreides Management as well as existing investors Riverwood Capital, Tenaya Capital and Nexus Venture Partners.

In the announcement of the financing Druva founder and CEO Jaspreet Singh said, “The line between data and business is blurring. The data management market is forecasted to be worth $55 billion next year, yet the landscape is dominated by solutions that are 20 years old. Druva is disrupting the way enterprises protect and leverage their data with a modern, cloud-native SaaS platform. Today’s funding will help Druva to power data protection for the cloud era, and accelerate our momentum to better serve the needs of enterprise customers.”

The Gunderson Dettmer deal team was led by Bennett Yee and included Bradley Krack, Valerie Lau and Amy Luong.