Pune-based cloud data protection firm Druva has formally announced the acquisition of a hybrid cloud data protection and migration company CloudLanes, which enables seamless and secure movement of data from on-premises to cloud.
Founded in 2015, US-based CloudLanes is a secondary storage platform built on public clouds with a hybrid cloud approach. The product is designed for data guardianship and is optimised for backup and archival workloads. Further, CloudLanes combines these capabilities with security and governance, chain of custody and data verification capabilities.
CloudLanes’ software claims to rapidly and securely ingests data from on-premises and move it to the cloud in a fast, secure, and auditable manner for protection needs, freeing organisations from legacy scalability and architecture.
“CloudLanes’ innovative approach to data migration enhances the Druva Cloud Platform and will bring enterprises a novel and powerful new approach to data protection and management,” said Abhijit Dinkar, cofounder and CEO of CloudLanes.
By integrating CloudLanes, Druva will bring all the benefits of its cloud capabilities to these on-premises environments, providing instant recovery and enhancing data security without requiring any hardware.
Additionally, efficient and cost-effective cloud-based resources and lifecycle management will decrease total cost of ownership, by eliminating the need for on-premises storage and compute resources.
“The addition of CloudLanes will help us extend the advantages of cloud to more enterprises at the edge, bringing greater access to data, enhanced protection, and help accelerating growth through simple and reliable data protection.” said Jaspreet Singh, founder and CEO, Druva.
Founded in 2008 by Jaspreet Singh, Milind Borate, and Ramani Kothandaraman, Druva offers cloud data protection and information management, leveraging the public cloud to offer a single pane of glass controls to protect, preserve, and discover information. The company is now nearly at a $100 Mn annual run rate.
Recently in June, Druva raised $130 Mn in a funding round led by Viking Global Investors and entered the unicorn club with a valuation of around $1Bn. The funding round also saw participation from investors such as Neuberger Berman and Atreides Management, and existing investors including Riverwood Capital, Tenaya Capital, and Nexus Venture Partners.
At that time, Druva has shared plans to invest these funds in innovation and strategic acquisitions. Prior to this round, Druva has also raised $198 Mn in funding from key investors such as Riverwood Capital, Sequoia Capital India, Nexus Venture Partners, IAN among others.
Druva was one of the 30 soonicorns, according to Inc42’s The State Of Indian Startup Ecosystem 2018.