OwnBackup Gets $50M to Help Protect Critical SaaS Data

People assume that if it’s in the cloud, it’s protected. But for most SaaS apps like Salesforce there is a shared responsibility for keeping data safe. Customers are responsible for the errors and corruption they create. Yet despite this exposure, most organizations don’t backup their SaaS data or have the ability to easily recover.

OwnBackup Website

We have written before that companies sometimes forget that data in the cloud needs to all be secured but we haven’t focused enough on explaining it needs to be protected by backups as well. OwnBackup does a good job of explaining why, above.

You may recall, we broke the news on the company’s $23 million in funding around a year ago.

OwnBackup is a leading backup vendor for Salesforce and has had some impressive wins lately:

●      Achieved approximately 100 percent year-over-year revenue growth for two years running 

●      Earned 98 percent five-star reviews in the Salesforce AppExchange

●      Supports over 2,000 customers—such as AECOM, athenahealth, Michigan State University, and Navy Federal Credit Union—securing 60 trillion SaaS and PaaS records

●      Employs more than 220 people globally, with headcount growth of 200% over the past two years

●      Recently expanded the company’s leadership bench with the addition of Salesforce veteran Jamie Grenney as chief marketing officer, and data security expert Roi Dover as vice president of research and development 

●      Ranked twenty-fifth on the 2020 Financial Times Americas’ Fastest Growing Companies list and number 102 on the 2019 Inc. 5000

As a result, the company recently announced $50 million in new funding led by Insight Partners, with participation from Salesforce Ventures and Vertex Ventures less than one year after raising Series C financing. Existing investor Innovation Endeavors also participated in the follow-on round, which brings the company’s total funding to over $100 million. The additional capital will be used to accelerate product development and scale go-to-market functions in support of OwnBackup’s vision to give enterprise CIOs one pane of glass where they can backup, protect, and analyze their mission-critical and increasingly complex software-as-a-service (SaaS) data. 

Profile photo of Sam Gutmann
Sam Gutmann, CEO of OwnBackup

“This oversubscribed round signifies investors’ recognition of our early dominance in a huge addressable market,” said Sam Gutmann, CEO of OwnBackup. “In today’s uncertain climate, more CIOs and CEOs realize the importance of building greater resiliency into their business. We’re committed to keeping their operations running around the clock with enterprise-grade, set-it-and-forget-it monitoring and recovery—both during the COVID-19 pandemic and over the long term.” 

Profile photo of Matt Garratt
Matt Garratt, managing partner at Salesforce Ventures

“OwnBackup provides automated and fast data protection so customers can feel confident that their business data is always protected,” said Matt Garratt, managing partner at Salesforce Ventures. “OwnBackup has been a long standing Salesforce partner on AppExchange, and we are pleased to continue to support their growth with this new investment to drive further innovation for customers.” 

Profile photo of Nikitas Koutoupes
Nikitas Koutoupes, managing director at Insight Partners

“OwnBackup is the business continuity partner of choice for forward-thinking enterprise CIOs, and has achieved incredible growth and customer success in the five years since it was founded,” said Nikitas Koutoupes, managing director at Insight Partners. “With the backup and recovery market expected to surpass $18 billion by 2026, there’s massive untapped potential for OwnBackup’s stellar team and proven solutions. We believe demand for the company’s products will continue to soar, both within the Salesforce ecosystem and beyond.”

OwnBackup’s solutions make it easy to backup data, metadata, and attachments stored in Salesforce. The platform’s real-time monitoring and alerts help enterprises recover faster from data loss, ensure business continuity, speed up operations, and meet compliance mandates. During the COVID-19 crisis, governments and businesses need to manage potentially life-saving data sets—including contact tracing, health checks, testing, medical research, and pandemic response details—all of which require maximum protection. With the new funds, OwnBackup plans to meet this demand and expand its backup, recovery, archiving, and sandbox seeding services into a unified solution for all corporate data across a variety of SaaS apps. 

Profile photo of Matthew McGarry, MBA
Matthew McGarry, senior principal Salesforce technologist at Medtronic

“OwnBackup is a lifesaver, because not only does it give us peace-of-mind with a single pane of glass for our valuable SaaS data, it lets our team jump faster into new projects, since we know we can always roll back if needed,” said Matthew McGarry, senior principal Salesforce technologist at Medtronic. “As we become more sophisticated in how we leverage and build out our Salesforce environments, OwnBackup ensures that we minimize the risk of any data loss, reduce our storage costs, eliminate regulatory compliance headaches, and have the tools to properly govern all of our crucial enterprise data.”

Obviously making solutions that help companies with business continuity that tie into the fast-growing Salesforce platform is a fantastic business to be in right now. The amount of data generated by customer interactions continues to grow… Recorded audio and video are some of the latest bandwidth hogs; Meaning continued growth in the market for backups for many years to come.

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