We estimate the total cost to U.S. business of hacks over the last decade is north of $3 trillion and it seems there is news of major new ransomware attacks every day – like this one, which involved paying a $600,000 ransom.

This explains why Druva just received a $130 for cloud backup.

Cloud is taking over. But it is worth noting there are inherent benefits to a hybrid backup model when it comes to moving large amounts of data quickly. Having a local appliance means restoring can be done far more quickly.

But even Datto – who popularized the hybrid model among MSPs, yesterday released an appliance-free backup solution.

“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,” said Jaspreet Singh, Founder and CEO, Druva. “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 company’s solutions also help with compliance like GDPR as well as eDiscovery. Life sciences, government, tech, manufacturing and education are just some of the major markets they serve. The company’s solutions are available via MSPs.

Hacking is a business. Most companies do not realize they are on the front lines of this new industry.

Those that do, realize backups are crucial and one of the only defenses – once an infection has happened.

This explains the company’s rapid growth and potential for the future.

We have put together cybersecurity best practices for every organization. We urge you to read the document and live by it.

Learn about the latest in everything you need! UCaaS, the Channel, IT, IOT, Edge, Cybersecurity, AI, SD-WAN, and the Future of Work at the world’s only SD-WAN Expo and MSP Expo, part of the ITEXPO #TechSuperShow, Feb 12-14, 2020 Fort Lauderdale, FL.