Backupify Secures $9 Million in Series C Funding Investment will enable technical and commercial growth of cloud backup provider
CAMBRIDGE, Mass., July 11, 2012 /PRNewswire/ -- Backupify, the leading provider of online backup services for cloud application data, today announced that it has secured $9 million in Series C funding from Symantec Corp. as well as existing investors Avalon Ventures, General Catalyst Partners and Lowercase Capital. In combination with previous funding, the company has now raised a total of $19.5 million. Backupify will apply the funds to accelerate further development and adoption of its industry-leading backup solutions and support for additional online services.
Over the last three years, Backupify has safeguarded data for more than 5,000 businesses, backing up more than 300 terabytes of data stored including more than two billion emails. This rapid growth and market leadership position attracted Symantec to participate in the funding round.
"As more data is stored in cloud-based services, the threats to that data posed by user error, corruption and hacking also increase. Maintaining a secure second copy of cloud-based data can mitigate each of these risks," said Anthony Woolf, senior director, corporate development, Symantec. "We support Backupify's efforts to help consumers and businesses protect the data they create in cloud applications."
"Backupify has made tremendous progress since their last round of funding," said Rich Levandov, managing director, Avalon Ventures. "The company has deepened its support for Google Apps, added support for Salesforce.com, and continued to scale its sales and marketing efforts. This funding round will enable the organization to continue its rapid growth in size and scope."
"Every day the CIOs and I.T. leaders we talk to are asking us to support more of the cloud-based applications they use to run their businesses. This new round of funding will enable us to extend our market leadership by adding more features and products to fuel new customer adoption, and help businesses move to the cloud with confidence," said Rob May, CEO, Backupify. "We're excited to have Symantec involved in this investment, validating our strategic vision to drive innovation in cloud data management and backup."
For more information on Backupify, visit www.backupify.com.
Backupify is the leading backup provider for cloud application data, offering an all-in-one archiving, search and restore solution for the most popular online services including Google Apps, Salesforce, Facebook, Twitter and more. Backupify ensures that companies can access and control the data they entrust to these systems and prevents data loss from external threats, user error or service failure. Backupify was founded in 2008 and is based in Cambridge, Massachusetts. For more information, please visit http://www.backupify.com or follow @Backupify on Twitter.